view” that is, a point of view that does not evaluate standards according to whether they advance the interests of a particular individual or group, but one that goes beyond personal interests to a “universal” standpoint in which everyone’s interests are impartially counted as equal. Last , moral standards are associated with special emotions and a special vocabulary. For example, if I act contrary to a moral standard, I will normally feel guilty, ashamed, or remorseful; I will characterise my behaviour as “immoral” or “wrong” and I will feel bad about myself and experience loss of self-esteem.
WHY ETHICS IS IMPORTANT IN THE BUSINESS ENVIRONMENT NOT EVERY DECISION CAN BE COVERED BY ECONOMIC, LEGAL, OR COMPANY RULES AND REGULATIONS. MORE OFTEN THAN NOT, RESPONSIBLE DECISION MAKING MUST RELY ON THE PERSONAL VALUE AND PRINCIPLES OF INDIVIDUALS INVOLVED. INDIVIDUALS WILL HAVE TO DECIDE FOR THEMSELVES WHAT TYPE OF PERSON THEY WANT TO BE. MANY STUDENTS BELIEVED THAT “BUSINESS ETHICS” WAS AN OXYMORON. MANY ALSO VIEW ETHICS AS A MIXTURE OF SENTIMENTALITY AND PERSONAL OPINION THAT WOULD INTERFERE WITH THE EFFICIENT FUNCTIONING OF BUSINESS.
• IN ORDER TO SUSTAIN THE FIRM, ETHICALLY RESPONSIBLE BUSINESS DECISION MAKING MUST MOVE BEYOND A NARROW CONCERN WITH STAKEHOLDERS TO CONSIDER THE IMPACT THAT DECISION WILL HAVE ON A WIDE RANGE OF STAKEHOLDERS. • IN A GENERAL SENSE, A BUSINESS STAKEHOLDER WILL BE ANYONE WHO AFFECTS OR IS AFFECTED BY DECISION MADE WITHIN THE FIRM, FOR BETTER OR WORSE. FAILURE TO CONSIDER THESE ADDITIONAL STAKEHOLDERS WILL HAVE DETRIMENTAL IMPACT ON THOSE STAKEHOLDERS, ON STOCKHOLDERS, SPECIFICALLY, AND ON THE FIRM’S LONG-TERM SUSTAINABILITY AS A WHOLE. • UNETHICAL BEHAVIOR NOT ONLY CREATES LEGAL RISKS FOR A BUSINESS , IT CREATES FINANCIAL AND MARKETING RISKS AS WELL. MANAGING THESE RISKS REQUIRES MANAGERS AND EXECUTIVES TO REMAIN VIGILANT ABOUT THEIR COMPANY’S ETHICS.
You've reached the end of your free preview.
Want to read all 12 pages?
- Fall '15
- Ethics, moral standards, DEWI SUSILOWATI