Business Ethics Module 1: Start By Reading And Following The

Business Ethicsmod 1start By Reading And Following These Instructions

Choose your sources carefully. Consider the course discussions so far and any insights gained from it. Create your Assignment submission and be sure to cite your sources if needed, use APA style as required, and check your spelling.

Paper For Above instruction

Business ethics is a fundamental aspect of contemporary organizational operations, serving as a moral compass guiding companies toward responsible behavior. The importance of studying ethics lies in fostering trust, credibility, and sustainable success within the business environment. Ethical practices influence stakeholder relationships, enhance corporate reputation, and contribute to societal well-being. Understanding ethics enables employees and managers to navigate complex dilemmas, make informed decisions, and uphold integrity, which ultimately benefits the organization and the community it serves (Treviño & Nelson, 2016).

Concern about doing “the right thing” stems from the recognition that businesses operate within societal frameworks that demand accountability and moral responsibility. Ethical conduct ensures compliance with legal standards, prohibits deceptive practices, and promotes fairness. Moreover, ethical behavior mitigates risks of scandals, legal penalties, and damage to brand image, thus securing long-term profitability and stakeholder confidence (Ferrell, Fraedrich, & Ferrell, 2020).

Every individual's unique influences and values contribute to their personal value systems; applying these values to a community enhances social cohesion. When individuals bring their morals into a collective setting, a shared code of conduct can develop, fostering trust and cooperation. This collective moral foundation promotes ethical culture within organizations and communities by encouraging transparency, accountability, and mutual respect, leading to societal improvements (Donaldson & Werhane, 2019).

Historically, the evolution of business ethics reveals a trend towards increasing awareness and regulation. Although there have been notable scandals, such as Enron or Volkswagen, which showcase unethical conduct, modern businesses are more visibly committed to ethical standards due to societal pressure, stakeholder activism, and international regulations. Overall, many scholars argue that the business world is becoming more ethical as organizations adopt corporate social responsibility (CSR) practices, establish codes of conduct, and enforce compliance programs. However, challenges remain, and ongoing vigilance is required to sustain this positive trajectory (Crane, Matten, & Spence, 2019).

To resolve ethical dilemmas using the golden rule—treat others as you wish to be treated—one must consider the perspectives and rights of all stakeholders involved. This approach encourages empathy and fairness, guiding decision-makers to actions aligned with moral principles that promote mutual respect. For instance, in a situation involving a possible layoffs, applying the golden rule would suggest transparent communication, offering support or retraining, and considering alternative solutions that uphold dignity and fairness for both employees and the organization (Laczniak & Murphy, 2018).

References

• Crane, A., Matten, D., & Spence, L. J. (2019). Corporate Social Responsibility: Readings and Cases in a Global Context. Routledge.
• Donaldson, T., & Werhane, P. H. (2019). Ethical issues in business: A philosophical approach. Pearson.
• Ferrell, O. C., Fraedrich, J., & Ferrell, L. (2020). Business Ethics: Ethical Decision Making & Cases. Cengage Learning.
• Laczniak, R. N., & Murphy, G. B. (2018). Ethical Marketing Decisions: The Heart of Responsible Marketing. Routledge.
• Treviño, L. K., & Nelson, K. A. (2016). Managing Business Ethics: Straight Talk about How to Do It Right. Wiley.