Ethical And Ethical Principles Of Business Ethics Essay

1. An introduction that includes your final decision and explanation of that decision. (1 point) First, I will advise my company not to sell the drug, due to the dangerous side effect of it. It may be a little percentage relative to all users, but the side effects have no remedy. Furthermore, death and paralysis are not something to be taken lightly. It is a very serious matter to be taken into consideration. 2. A complete definition and discussion of the meaning of business ethics; (1 point) â€Å"Business ethics is the application of moral and ethical principles in a business context.† – In the business society it is not just about what the law says, there are instances that a situation is in accordance with the rule of law, but somehow there are gray areas that violates the common principles of the society. That is the reason why nowadays, moral and business ethics are being observed widely. 3. A discussion of how you and other business leaders can encourage your companies to act ethically; (1 point) I will set an example by enforcing what is right, and when a wrongful action has been committed, I will uphold the values that will encourage to rectify the misdeed. 4. A discussion of what your answer and advice to the company would be if you applied each of the three main approaches to ethical reasoning (which should include a discussion of each of the three approaches.) Your decision may not be the same as each of the three approaches is applied to the scenario. (3Show MoreRelatedEthical Principles Of Business Ethics1995 Words   |  8 PagesBUSINESS ETHICS Ethics is the branch of philosophy that focuses on morality and the way in which moral principles are applied to everyday life. It involves an active process of applying values, which may range from religious principles to customs and traditions. Business ethics focuses on the good or wrong behavior in the world of business, all companies have a responsibility to apply moral and ethical principles to the marketplace and workplace. Also business people have a responsibility to theRead MoreEthical Concepts And Principles Of Business Ethics1673 Words   |  7 Pagesregulations designed to ensure proper conduct in business. Plus, individual businessmen and women have their own private consciences to guide them. So do we really need to study business ethics? Is it necessary for businesspeople to be familiar with abstract ethical concepts and principles, and to engage in ethical reasoning? Why / why not? (7 points) I believe it is most certainly necessary for business people to be familiar with ethical concepts and principles. The increasing complexity of today s economyRead MoreThe Five Business Ethics Myths Essay879 Words   |  4 PagesCommon Ethics Misconceptions Trevino Brown (2004) in Academy of Management Executives talked about the five business ethics myths. 1. It is easy to be ethical 2. Unethical behavior in business results from bad people 3. A formal code of ethics is the easiest way to manage them 4. Principled leadership revolves around your leaders 5. At one time, people appeared to be more ethical Pundits and business leaders say being ethical is straightforward when being ethical is complexRead MoreHow Ethics Affects Business Relationships Within An Organization Essay1294 Words   |  6 Pages Business ethics, business relationships and leadership make immense contribution towards influencing an organization’s overall existing culture. They all play a key role in an organization s development, success, and achievement through various aspects. 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