Business Ethics: Exploring Principles, Issues, and Learning

This essay provides a comprehensive overview of business ethics, beginning with a definition of the subject and its importance in the business world. It explores essential concepts and issues, including moral standards and their application to organizations and individuals. The essay delves into the key ethical principles of respect for autonomy, beneficence, nonmaleficence, and justice, explaining their significance in business decision-making. Organizational issues, such as productivity, job design, process management, and relationships with customers, are examined, along with the impact of technology and organizational culture. The essay also discusses personal and organizational learning, emphasizing the importance of continuous improvement and adaptation. The author reflects on their learning experience, highlighting how the course has deepened their understanding of business ethics and its practical implications for professional and community interactions. The essay concludes by emphasizing the importance of adhering to ethical codes of conduct for a business to succeed, maintain a good reputation, and avoid legal and financial repercussions.

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Business Ethics
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Business Ethics
Business ethics entail principle sets that are used in the determination of the right thing
from the wrong thing. This brings out one’s behavior or conduct. In business, the decision-
making process that involves individuals can be determined to be ethical or not. There are
essential business ethics which are crucial to the development of a business. In addition, an
individual’s ethical standing has to be taken into consideration. In that note, the standards
used to measure one’s ethical standards apply to the standards used to measure a
business’s ethics.
The concepts of business ethics
There are concepts as well as issues surrounding business ethics. Moral standards are
applied to organizations and systems which aid in the production and distribution of goods
and services. This also applies to individuals working with the organizations and the systems
they are subjected to. Concepts in Business ethics have concerns with three various types of
moral or ethical issues, (Botta et al., 2018, 78). These include issues affecting how
businesses are conducted within specific systems that the business has been established on
with the conclusion of political, economic and legal or social systems. The second aspect or
concerns is pegged on corporate issues such as a company’s conduct. Lastly, certain
concepts observe issues faced or brought up by individuals especially in terms of different
behavior amongst employees in a company.
Businesses have been considered to be “corporate citizens” hence their ability to be judged
as having moral and ethical values, (Greenwood & Freedman, 2017, 2). In such businesses,
employees, stakeholders, and employers seek to know the business’s standards and moral
values and what they mean to them. The importance of these morals and ethics are also

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considered especially on how they help in the decision making processes. Lastly, the
corporate entity seeks to determine how moral standards can be used to accomplish its
activities that lead to success.
The motive to get profits is overshadowed by the existence of ethics in a business. Business
ethics that are good strive at ensuring that codes of moral conduct are adhered to so that
consumers have the best expectations of the products and services they seek from the
business. Despite the aim of getting profits, businesses have to ensure that the rights
associated with human beings have to be observed at all times since intense scrutiny follows
when these rights are compromised. Good ethics have to be adhered to for a business to
succeed and have a good reputation. By adhering to ethical conduct/business ethics, the
business is able to discourage disobedience and breaking of laws in the business entity.
Employees and other members are always reminded to uphold morality and ethical
behavior, (Mele & Fontrodona, 2017, 672). In addition, expensive lawsuits against the
business can be avoided by upholding ethical standards. Employees and customers have
rights and as such, businesses are mandated to observe the rights. Lastly, a business’s image
is important. By adhering to moral codes of conduct and business ethics, a lot can be
achieved. For instance, profitability will be realized, revenue losses due to reduced
customers will be avoided and the business’s reputation will be upheld.
Ethical principles
There are four main ethical principles. The first is Respect for Autonomy. Autonomy is
associated in Latin to mean “self-rule” where other people’s autonomy has to be respected.
This is in relation to the different decisions that an individual makes in life. Competent

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adults must be understood and their decisions should not be interfered with. On the other
hand, their decisions have to be empowered. In business, consumers and their decisions or
choices have to be considered. Businesses have to also provide goods and services in
relation to what a client desires.
The second principle is Beneficence. This means that individuals have the duty of bringing
out or leading to the occurrence of good results from all actions. One should prevent harm
despite the conflicts that one may be faced with, (Mladenovic, Martinov & Bell, 2017, 10). In
business, one has to make tough pricing decisions based on the inputs. Despite the
consumers having a say in the pricing, economic times dictate the pace hence the conflicts
that may arise. However, the need to provide quality goods and services has to be
implemented fully.
Nonmaleficence forms the third principle which requires individuals not to do or commit
any kind of harm. In situations where harm cannot be evaded or avoided, one is tasked with
the duty of minimizing it, (Orlitzky, 2017, 718). In addition, risks associated with harming
other individuals have to be reduced too. The use of resources is also covered in this
principle and individuals are required not to waste resources.
Lastly, the principle of justice is part of ethical principles. Here, one is tasked with providing
to others what he or she owes. Also, one is needed to equally treat others in society in a fair
way too.
Organizational issues
Businesses and organizations always face issues that affect them. Some of these issues
range from political, economic, geographical and at times developmental issues, (Grady

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2017, 20). The main issues that are faced by organizations range from, productivity, job role
designs, process management, relationships with various customers, people and lead to the
need for more innovative ideas. In as much as businesses attempt to bring out a positive
outlook, these aspects hamper the way in which they exist. Technology has been a major
factor in determining whether a business prospers or not, (Pearson, 2017, 112). For
instance, businesses are moving from the normal brick and mortar businesses to online
businesses. The rate of competition is also on the rise hence the lack of profitability. In
addition, organizational culture also hampers the operation of businesses especially when
there are different cultures in the organization.
Personal and organizational learning
This mainly entails the aspect of learning between similarly minded individuals so that
progress is achieved. Existing areas are improved on so that productivity is increased.
Through interaction with different employees, one is able to learn every day. Organizational
learning also aims at providing better value to existing and new customers through the
provision of quality and excellent products, (Pedersen Gwozdz & Hvass, 2018, 267). As such,
organizations are tasked with reduction of errors, development of new business models,
increasing productivity as well as participating in societal responsibilities.
The learning experience in the course and identify areas of your greatest (or least if
necessary) development or understanding
My learning experience in the course enabled me to have new insights into business ethics.
This is in relation to how business entities are run with the main pillar being adherence to
codes of conduct set by a business entity. This also leads to the creation of business ethics
and principles which are essential in the business and corporate world. By having a better

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understanding of ethics and morals, one is able to have a successful work relationship with
others as well as the community at large.

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References
Botta, F., Bain, G., Ogundare, A., He, Y., & Li, Y. (2018). Ethical Principles highlighted by
Nestlé. 78-93
Grady, C. (2017). Ethical principles in clinical research. In Principles and Practice of Clinical
Research (Fourth Edition)(pp. 19-31).
Greenwood, M., & Freeman, R. E. (2017). Focusing on ethics and broadening our intellectual
base. 1-3
Melé, D., & Fontrodona, J. (2017). Christian ethics and spirituality in leading business
organizations: Editorial introduction. Journal of Business Ethics, 145(4), 671-679.
Mladenovic, R., Martinov-Bennie, N., & Bell, A. (2017). Business students’ insights into their
development of ethical decision-making. Journal of Business Ethics, 1-13.
Orlitzky, M. (2017). How cognitive neuroscience informs a subjectivist-evolutionary
explanation of business ethics. Journal of Business Ethics, 144(4), 717-732.
Pearson, R. (2017). Business ethics as communication ethics: Public relations practice and
the idea of dialogue. In Public relations theory (pp. 111-131).
Pedersen, E. R. G., Gwozdz, W., & Hvass, K. K. (2018). Exploring the relationship between
business model innovation, corporate sustainability, and organisational values within
the fashion industry. Journal of Business Ethics, 149(2), 267-284.