Answer

Business Ethics

Question 1

Studies define in various forms. However, the simplest definition of ethics is a moral principle system. Ethics are developed from aspects that people believe is essential to living an exemplary life. Various researches associate ethical behaviour with honesty, integrity, loyalty, fairness, concern for others, respect for others, promising to keep, and most of all, knowing what is right and wrong. Studies indicate that ethics is often concerned with what is good for individuals and society and is also identified as moral philosophy (Shaw, 2016). Thus, when business and ethics are put together, it signifies developing ethical principles that act as guidelines for managing its activities and transactions. People use the same policies in various approaches to present themselves acceptably in professional and personal settings.

My decisions, particularly as they relate to ethically charged concerns, a matter that business and ethics incorporate the challenge of identifying how to justify our characters both to ourselves and others. When putting business and ethics together, people are obliged to consider what they should do and how they do it at all times, not only at work but in every place  (Shaw, 2016). Business ethics involve developing systems and strategies concerning possibly provocative subjects such as insider dealing, corporate governance, bribery, social fiduciary obligations, and social accountability.  Shaw (2016) indicates that strong and effective business ethics help organizations attract individuals who fit their culture and relate to their activities. Thus, ensuring respect and trustworthiness among the workforce increases its revenue. Furthermore, business ethics enhance integrity among the crew and gain trust from stakeholders such as consumers and investors.

Question 2

The five specific ethical issues that contemporary ethical managers must confront include an individual’s right to privacy, management style, discrimination, job dissatisfaction, health and safety of the employees, corporation, and social media (Ciulla, 2020). Individuals have the constitutional liberty to privacy,  particularly the freedom to constrain specific data about themselves. The management approach also influences the work setting. For instance, a leader who operates with assumptions about human nature, infighting and political manoeuvring damage employees interests. Health and safety remain the foremost moral concern in the workplace (Ciulla, 2020). Managers have an ethical responsibility not to present the employees with unnecessary risks, and workers have a priority to know about and decline hazards. One of the ethical theories suited to resolve each of the issues is Kant’s theory.

Kant’s theory is an actual model of an essentially non-consequentialist path to ethics. Non-consequentialist typically centres on moral rights. These are entitlements to act in a particular manner or have others work in a specific way (Pavlova et al., 2019). According to Kant, when individuals act from goodwill or moral reason, their actions have moral worth. Kant’s unconditional imperative indicates that an action is considered morally valid if only an individual can rationally will that the policy outlined by the action be international regulation. Kant thought that the absolute imperative is compelling on all reasonable creatures, despite their significant objectives and consequences (Pavlova et al., 2019). I choose Kant’s perspective because it provides us with firm patterns that do not rely on events. Kant’s ethics introduces a humanistic aspect of ethical decision making and emphasizes the significance of acting on policy and insight into responsibility.

Question 3

Acting ethically means distinguishing what “wrong” is and “right.” Fundamental standards exist worldwide that dictate illegal or unethical business practice activities. For instance, hazardous working situations are usually deemed unethical since they risk the worker’s health and safety. Shaw (2016) indicates that determining what actions or practices are more ethical or legal is often challenging to ascertain if they exist in a grey zone where the lines between moral and legal can be blurred. For instance, assuming business A works with a connection at company B, a person negotiating all the company B supplies costs. Company A sincerely desires to acquire the best rates on the reserves. When the person from organization B comes to their headquarters office to bargain a new agreement, they book him in a luxurious resort in the best suit and ensure that all his/her requirements are satisfied.

From a technical perspective, the method is not unlawful. Nevertheless, it might be deemed a grey zone adjacent to bribery. This is because the person is anticipated to be more willing to offer company A a value break at the cost of receiving the fairest settlement for his company. In these scenarios, the best approach to implement is an ethical strategy. Besides trying to win a contract, it is morally right to ensure that staff members are satisfied, and all their work needs are addressed (Shaw, 2016). The person from company B is also a staff. Therefore, company A should practice ethical approaches, such as ensuring the individual’s safety and wellness, which is fundamental.

Question 4

Utilitarianism is described as one of the best influential moral theories. Research indicates that utilitarianism centres on figuring out what is wrong and what is right (Fisher, Dimmock & Imler, 2021). The utilitarian considerations that I think are essential to layoff or downsizing decisions and their implementations are the Act and Rule utilitarian. Utilitarians often believe that morality’s objective is to make life more satisfying by enhancing the number of good elements such as satisfaction and happiness and reducing bad things such as sadness and pain (Fisher, Dimmock & Imler, 2021). The Act and Rule utilitarian consideration differ in their aspects and the way they appropriate.

Act utilitarianism is often described as the most natural utilitarian ideal interpretation. According to this perspective, if an individual’s objective is usually to produce the best outcomes, it seems plausible to consider that they should consider available options in every incident of deciding what the right thing to do (Fisher, Dimmock & Imler, 2021). These options can include identifying what actions could be implemented, predict their results and acknowledge the action that will ensure the most good. Fisher, Dimmock and Imler (2021) indicate that when people choose the activities that produce less utility than possible, the total utility of their actions will be less than the amount of goodness that they can produce.

Rule utilitarianism believes that individuals can maximize utility by developing a moral code that incorporates rules. Rule utilitarianism seems paradoxical. It advocates that individuals can ensure more beneficial outcomes by following rules than by often following other individual’s actions whose results are as helpful as possible (Fisher, Dimmock & Imler, 2021). This signifies that people should not copy other people’s actions regarding the implementation of layoffs or downsizing.

Question 5

In my perspective, what makes a  company good or bad is developing a code of ethics. An organization with a code of ethics can define and preserve acceptable behaviour standards. An excellent ethical framework helps the organization through periods of increased pressure, such as rapid growth or organizational change (Kashif, Zarkada & Ramayah, 2018). Moreover, a company with a code of ethics can decrease its susceptibility to misconduct. Emphasizing ethical practices in work, such as personnel policies, can outdo expensive litigations or fines. Moreover, a good company with a code of ethics can translate to excellent Public Relations (PR). Furthermore, what makes a company good or bad is how employees are treated in terms of wages and wellness, how honest the business is with its dealings, and if the company’s activities promote happiness or the opposite.

The theory that influenced my answer is the utilitarianism theory. This theory emphasizes that an ethical decision will produce the greatest good for the highest number. It is the only moral structure that can justify war or force. Furthermore, utilitarianism is considered the most common business ethics approach because it accounts for costs and benefits (Fisher, Dimmock & Imler, 2021). This theory has two parts. The rule utilitarianism helps the highest number of individuals using the fairest approaches possible and the act utilitarianism, which makes the most ethical actions possible for the good of the people.