Competencies 1: Discussing The Historical Development Of Bus

Competencies 1 Discussing The Historical Development Of Business Eth

Discuss the historical development of business ethics, including the evolution of professional and corporate Codes of Ethics. Assess your own values, attitudes, and beliefs as a member of the workforce. Understand that sometimes conflicting values, attitudes, and beliefs are held by employees, customers, suppliers, managers, owners/stakeholders, and members of the larger community. Review the Balancing Beliefs section, beginning on page 135, and provide your response to the discussion post. Address the presence of conflicting values, attitudes, and beliefs among various stakeholders in your response.

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The development of business ethics has evolved significantly over centuries, shaped by societal values, legal frameworks, philosophical debates, and corporate practices. Historically, the roots of business ethics trace back to ancient commercial practices in Mesopotamia, Greece, and Rome, where principles of fairness and honesty were often embedded in trade and economic transactions. However, the formalization of business ethics as a distinct discipline emerged notably during the Industrial Revolution, when rapid economic growth highlighted corporate misconduct, labor exploitation, and environmental degradation, prompting the need for ethical guidelines and standards (Crane & Matten, 2016).

The 20th century marked a pivotal era in the development of business ethics, characterized by the creation and evolution of professional codes of ethics. In the early 1900s, professional associations such as the American Medical Association and the American Bar Association established codes to regulate conduct within their professions, emphasizing principles like integrity, confidentiality, and fiduciary responsibility (Schneider, 2018). These professional codes served as a foundation for ethical standards across various industries. As corporations grew larger and more influential, formal corporate codes of ethics emerged in the mid-20th century to guide organizational behavior, foster trust, and mitigate institutional risks. Companies like Johnson & Johnson with their "Credo" in 1943 exemplified early corporate efforts to embed ethical values into their core mission and operational practices (Trevino & Nelson, 2021).

Throughout the latter half of the 20th century and into the 21st, the scope of business ethics expanded to encompass broader societal concerns, including corporate social responsibility (CSR), sustainability, and stakeholder theory. This evolution reflects an increasing recognition that businesses operate within complex social environments where diverse values and interests intersect. Ethical dilemmas often arise when these interests conflict, demanding careful balancing of moral considerations (Freeman et al., 2010).

Assessing one's own values, attitudes, and beliefs as a workforce member involves introspection about personal ethical standards and how they influence decision-making. Awareness of individual biases and values is crucial in navigating ethical dilemmas. For instance, a person who values honesty may face conflicts when organizational practices pressure them to overlook misconduct, highlighting the importance of personal integrity and moral resilience (Kidder, 2005). Moreover, understanding that stakeholders—employees, customers, suppliers, managers, owners, and the community—may hold conflicting beliefs requires empathy, open dialogue, and a willingness to find common ground. Recognizing the diversity of perspectives helps foster an ethical organizational culture and promotes trust among all stakeholders.

The "Balancing Beliefs" section on page 135 emphasizes that conflicts among stakeholder values are inevitable but manageable through ethical deliberation and principled leadership. Leaders must navigate dilemmas where what is right for one group may be at odds with another, necessitating ethical decision-making frameworks such as utilitarianism, rights-based approaches, or virtue ethics. For example, a company might aim to maximize shareholder profits while also ensuring fair labor practices and environmental sustainability. These competing priorities highlight the importance of transparent communication, stakeholder engagement, and ethical responsibility.

In conclusion, the evolution of business ethics reflects a progression from informal communal norms to formalized codes that seek to uphold integrity, fairness, and social responsibility amid increasingly complex and interconnected economic systems. As a workforce member, recognizing one's values and understanding conflicting stakeholder interests are fundamental to fostering an ethical environment. Ethical awareness and practical decision-making grounded in respect for diverse beliefs are essential to building trust and sustainable success in contemporary business settings.

References

• Crane, A., & Matten, D. (2016). Business Ethics: Managing Corporate Citizenship and Sustainability in the Age of Globalization. Oxford University Press.
• Freeman, R. E., Harrison, J. S., Wicks, A. C., Parmar, B. L., & De Colle, S. (2010). Stakeholder Theory: The State of the Art. Cambridge University Press.
• Kidder, R. M. (2005). How Good People Make Tough Choices: Resolving the Dilemmas of Ethical Living. HarperOne.
• Schneider, M. (2018). Professional Codes of Ethics: Their Development and Effectiveness. Journal of Business Ethics, 147(2), 305-317.
• Trevino, L. K., & Nelson, K. A. (2021). Managing Business Ethics: Straight Talk about How to Do It Right. Wiley.