Business Ethics Summary

Ethics is one of the oldest disciplines, the object of study of which is morality. The term ethics was introduced by Aristotle, who thoughtfully remarked that ethics “helps to know what to do and what should be avoided”.

Modern ethics is first and foremost, the science that allows to consider human relationships, as well as to evaluate the behavior of people in terms of generally accepted norms. There are professional ethics, which includes a system of moral norms of human behavior, belonging to a particular social group. An entrepreneur should not only know the ethical behavior standards, but also to follow them.

There are so-called professional ethics, and in particular – business ethics, which includes standards of entrepreneur behavior. Entrepreneurial activity is impossible without the numerous contacts with people; it is not designed to work alone.

What is the difference between business etiquette and business ethics? Business ethics is primarily a negotiation with partners; ethics recordkeeping; use ethical methods of competition. Business ethics considered to be the same for businessmen from different countries. Business etiquette – are certain rules governing the work style, manner of communication between firms, the appearance of businessmen, sequence and manner of negotiating and so on.

Business etiquette is formed under the influence of certain traditions and the prevailing historical conditions of the country. Therefore, those entrepreneurs who cooperate with foreign partners, is very useful to have a national business etiquette cooperating party prior to the joint activity.

The issues of business social responsibility, ethics, and environmental protection are on the agenda of modern companies.Social responsibility of business ethics and environmental protection are equally important and urgent tasks of modern business than the financial performance of the organization or the pay of top managers, because the issues of corporate responsibility are able to provide the same impact on business reputation and business value, as well as standard indicators of economic growth.

“Social responsibility is a voluntary effort on the part of business to take various steps to satisfy the expectation of different interest group… the interest group may be owners, investors, employees, consumers, government, society or community. ” (nos.org, 05.21.2009)

In our days environmental protection, for some business industries as automotive industry, drives to new technology and innovation. And this is true even for General Motors Company. “As an automotive manufacturer, environmental responsibility is a key issue for GM. It is playing an active role in the development of hydrogen fuel-cell powered vehicles that emit only clean water and offer twice the energy efficiency of traditional engines.” (Alex Blyth, 11.05.2003)

Without being perceived as a sign of economic strength, social responsibility has today the form of corporate civic – a way to create stable and profitable business relationship for all parties, a non-aggressive way, less harmful to work around the community, a friendly way of communication with society. In this form, social responsibility is nothing but a modern and open way of flexible management. Practices and social responsibility programs are more accessible and more interesting for small business enterprises.

Questions emanate as to the ethical considerations of the professional’s liability and how power and dominance should be utilized in service to the society and customer. Most professions have internally implemented principles of practice that associates of the profession must abide by, to forbid exploitation of the customer and uphold the wholeness of the profession. This is not only to the advantage of the client but to the advantage of those belonging to the profession. For instance, an American business may ask an engineer to manifest the safety of a project which is not safe. While one engineer may deny manifesting in the project on moral basis, the business may find a less painstaking engineer who will be ready to manifest in the project for a payoff, thus saving the business the cost of restyling. Disciplinary principles permit the profession to formulate a standard of behavior and assure that one meets this standard, by checking them from the professional body if they do not practice consequently. This permits those professionals who act with moral sense to practice in the cognition that they will not be counteracted commercially. by those who have less ethical qualms. It also maintains the public’s trust in the profession, meaning that the public will continue to seek their services.

One can show integrity in every step of professional life, and that comprises the truthfulness of statements in one’s curriculum vitae. It is common cognition that many people amplify their skills or experience when searching for jobs. They may over-accentuate their role in projects, their participation in certain industries or areas, or their acquaintance with various Information Technology packages. The interviewers can easily catch this foolishness, and thus one will have to face failure at the very beginning by not getting selected for the particular job. Potency-based interviewing is grounded on the premise that past performance is a good revealer of possible future performance. It uses elaborate questions about what one has done to inculcate one’s your past behaviors. Thus, starting with one’s resume, one can demonstrate his/her ethical values in the professional arena. In the professional arena, a person should not adopt unethical methods, such as accepting bribes, trying to hurt the sentiments of associates or not showing respect to the sub-ordinates.

Everyone has an ethical ambit. As a professional, one needs to make sure that one has a firm cornerstone. If one can meet the moral standards as expected of him/her, one is potent to encourage and urge on others and attain career honors and rewards.

References:

Behrman, Jack N. (1988).Essays on Ethics in Business and the Professions;

George, Richard T. de (1999),Business Ethics;



Source by Michael Alexander Newman