Business Ethics: Ethical Philosophies, Challenges, and Stakeholders

This presentation provides an overview of business ethics, emphasizing its importance for organizational decision-making and sustainability. It explores ethical philosophies such as deontological, utilitarianism, rights, and virtue ethics, which guide ethical decision-making processes. The presentation identifies common ethical challenges, including unethical leadership, discrimination, toxic workplace culture, and unrealistic goals, while also suggesting measures for senior management to maintain business standards. Furthermore, it highlights the critical role of stakeholders—including employees, investors, the public, board members, and shareholders—in upholding ethical business practices, particularly focusing on how employee productivity, performance, and behavior contribute to maintaining high standards. The presentation concludes by reinforcing the necessity for organizations to adhere to ethical principles to ensure long-term success and sustainability.

Business ethics

Table of Content
 Introduction
 Ethical organisation and the reason that why company is ethical
 Ethical philosophy
 Ethical challenges and their measures
 Stakeholders and their role in order to maintain business standards
 Conclusion
 References

Introduction
 Business ethics are considered as the professional or
applied ethics which needs to follow by an organisation in
order to run their business ethically.
 It is the study of appropriate business practices and policies
regarding controversial subjects which includes insider
trading, bribery, corporate governance, fiduciary
responsibilities and corporate social responsibility.

Ethical organisation
It is necessary to understand by every organisation
that ethics are crucial for an organisation to follow as
it helps in decision making. When an organisation is
following ethics then they are mostly taking right
decisions as ethics guides an organisation. It is found
that Tesla is considered as one of the most ethical
organisations.
The reason that why company is ethical
There are certain reasons are mentioned below that shows why
Tesla is considered as ethical:
• Tesla’s main mission is to transform the world into sustainable
transport.
• Tesla is focusing on manufacturing of electric vehicles. Tesla is
the organisation that focuses on reducing environmental
pollution.

Ethical philosophy
Ethical philosophies are considered as principles of ethics which helps an organisation to take right decision. It is found
that ethical philosophies help to analyse the situation first and then apply ethical principles in the decision making
process. There are main four ethical philosophies which are followed by organisations:
• Deontological
• Utilitarianism
• Rights
• Virtue

Ethical challenges and their measures
It is necessary to understand by an organisation that they
should prepare for measures as there are many cases found
in the organisation where they face ethical challenges.
Some if the ethical challenges are mentioned below:
• Unethical Leadership
• Discrimination and harassment
• Toxic workplace culture
• Unrealistic and conflicting goals, etc.
It is necessary for an organisation that they should take
right measures in order to deal with the ethical challenges
in an organisation. In this field, senior management team
playing an important role as they are responsible for
maintaining business standards.
Some points are mentioned below which states that how
senior management team of Tesla maintain business
standards:
• Senior management team is devising strategies of Tesla
and ensuring that it should be properly implemented.
• They are setting ambitious achievable goals.
• Coordinating with all functional departments of an
organisation.
• Managing the relationships with stakeholders.
• Effective organising of organisational resources.

Stakeholders and their role in order to maintain business standards
It is found that stakeholders are the important person for every
organisation as they are responsible for the success and growth
of an organisation. Important stakeholders of Tesla are
mentioned below:
• Employees
• Investors
• Public
• Board of directors
• Shareholders, etc.
These are the important stakeholders who are responsible
for the ethical business. It is found that employees are the
one who maintain business standards. Some of the below
points are mentioned below that shows how they are
marinating business standards:
• Productivity of employees helps to maintain business
standards
• Employees’ performance also assists in marinating
business standards.
• It is found that employees’ behaviour towards
organisational goals and objectives also helps to
maintain business standards.

CONCLUSION
 It can be concluded from the discussion of ethics that it is necessary for an
organisation to follow all the ethics in an effective way.
 This is necessary for an organisation to follow ethical philosophies so that they
can take right decision.
 This presentation covered reason of ethics as well as ethical challenges. It also
discussed stakeholders and their role in the organisation in order to maintain
business standards.

References
 Adeleye, I., and et.al., 2020. Business ethics in Africa: the role of institutional context,
social relevance, and development challenges. Journal of business ethics, 161(4), pp.717-
729.
 Baykal, E., 2021. Meeting Customer Expectations in Islamic Tourism: Effects of Islamic
Business Ethics. In Multidisciplinary Approaches to Ethics in the Digital Era (pp. 276-
291). IGI Global.
 Bell, E., Winchester, N. and Wray-Bliss, E., 2020. Enchantment in business ethics
research. Journal of Business Ethics, pp.1-12.
 Davani, M.R.E., 2020. Business ethics (pp. 182-199). De Gruyter Oldenbourg.

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