Business Ethics Week 1 Assignment Responses To Each Question

Business Ethicsweek 1 Assignmentresponses To Each Question Should Ful

Why do we study ethics? Why should we be concerned about doing “the right thing”? If each of us has a unique set of influences and values that contribute to our personal value systems, how can that be applied to a community as a whole? Based on the history of business ethics reviewed in chapter 2, do you think the business world is becoming more or less ethical? Explain. How would you propose the resolution of an ethical dilemma using the golden rule?

Paper For Above instruction

Ethics serves as the foundational compass guiding individual and organizational behavior, fostering trust, integrity, and social cohesion within societies and businesses. The study of ethics is essential because it helps individuals understand the moral principles that underpin right and wrong actions, enabling them to navigate complex moral dilemmas prudently (Bauman, 2013). By exploring ethical theories and real-world applications, individuals are better equipped to make decisions that uphold societal values and promote fairness. Concern about doing "the right thing" stems from the recognition that ethical behavior sustains the social fabric, enhances reputation, and contributes to long-term success (Crane & Matten, 2016). Moreover, acting ethically mitigates risks related to legal penalties, reputational damage, and internal conflict, which are detrimental to personal and corporate entities.

Each person’s personal value system is shaped by influences such as culture, family, education, and life experiences, which create a diverse array of moral perspectives. Applying these individual morals to a community requires a shared understanding and adherence to collective norms that foster social harmony (Northouse, 2017). Community-based ethics often emphasize principles like justice, respect, and responsibility, serving as common ground that unites diverse personal morals into a cohesive societal framework (Schwartz, 2017). In practice, communities develop codes of conduct or moral standards that guide members' behavior, ensuring that individual moral influences contribute positively to societal well-being rather than conflict or disorder.

Historically, the business world has experienced fluctuations in ethical standards. In chapter 2, the evolution from unregulated, profit-driven corporations to more socially conscious enterprises suggests a trend toward greater ethical awareness. However, scandals such as Enron or Volkswagen emission fraud reveal persistent ethical lapses. Based on this history, I believe that while there is a conscious movement toward ethical practices, the overall trend remains complex. Recent emphasis on Corporate Social Responsibility (CSR) indicates heightened awareness, but greed, short-term profit pressures, and competitive dynamics continue to challenge ethical conduct (Cummings, 2014). Therefore, the business environment is becoming more ethically aware in some aspects but still faces significant challenges in consistently maintaining high ethical standards across industries.

The golden rule—treat others as you wish to be treated—is a powerful principle for resolving ethical dilemmas. To apply it, one must consider all parties involved and assess the fairness of proposed actions from their perspective (Kant, 1785). For example, if a manager considers cutting costs at the expense of employee welfare, applying the golden rule prompts asking, "Would I want to be treated this way if I were in their position?" If the answer is no, then alternative solutions should be explored that respect the dignity and fairness owed to all stakeholders. Such reciprocity fosters mutual respect, trust, and ethical consistency, guiding individuals to make decisions aligned with moral integrity (Rest, 1986). Implementing this rule requires empathy and a commitment to equitable conduct, which can elevate ethical standards in organizational decision-making.

References

• Bauman, C. W. (2013). Ethical decision making and behavior. In G. R. Goethals, S. Brenner, & G. J. Hogan (Eds.), The Psychology of Decision Making (pp. 215-229). Routledge.
• Crane, A., & Matten, D. (2016). Business Ethics: Managing Corporate Citizenship and Sustainability in the Age of Globalization (4th ed.). Oxford University Press.
• Kant, I. (1785). Groundwork of the Metaphysics of Morals. Translated by Mary Gregor (2002). Cambridge University Press.
• Northouse, P. G. (2017). Introduction to Leadership: Concepts and Practice (4th ed.). SAGE Publications.
• Schwartz, M. S. (2017). Ethical Decision-Making and Behavior in Organizations. Routledge.
• Rest, J. R. (1986). Moral Development: Advances in Research and Theory. Praeger Publishers.