Business Ethics Assignment

Business Ethics Assignment - Nirali Patel Date Feb 12/2010

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Nirali Patel Date- Feb’ 12/2010 Write a 3 to 5 page paper reflecting on the importance of ethics as it relates to organizational growth and  development in your paper articulate analytically how the analysis of dilemma paradigms and the resolution  principles discussed in class can assist in developing a values-based organization.           Ethics is the right and wrong that prescribe what we should do, in terms of rights, Obligations, benefits  of the society, fairness or specific virtues, virtues of honesty, compassion and loyalty. In short , Ethics is practical side of morality .            Running a business ethically is good for business. However, "business ethics" if properly interpreted  means the standards of conduct of individual business people, not necessarily the standards of business as a  whole. Recent events in corporate America have demonstrated the destructive effects that occur when the  leadership of a company does not behave ethically. One might wonder why highly educated, successful, and  business savvy corporate professionals at Enron, Tyco, WorldCom, and Adelphia got themselves into such a big  mess. The answer lies in a profound lack of ethics.         Business leader are expected to run their business as profitably as they can. A successful and profitable  business in itself can be a tremendous contributor toward the common good of society. But if business leaders or  department managers spend their time worrying about “doing good” for society, they will divert attention from  their real objective which is profitability and running an efficient and effective organization.       Applying ethics in business makes good sense. A business that behaves ethically induces other business  associates to behave ethically as well. If a company (or a manager) exercises particular care in meeting all  responsibilities to employees, customers and suppliers it usually is awarded with a high degree of loyalty,  honesty, quality and productivity. For examples, employees who are treated ethically will more likely behave  ethically themselves in dealing with customers and business associates. I here, remember  the “Macy’s” example that was discussed in the class. Consumers are used to buying products despite how they feel about the 
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This note was uploaded on 11/08/2010 for the course MBA MGT 505 taught by Professor Brucecooners during the Winter '09 term at RMU.

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Business Ethics Assignment - Nirali Patel Date Feb 12/2010

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