1 Ethical Theories in Business BUS 670 Legal Environment September 25, 2017 2 Ethical Theories in Business Introduction In the business ethics involves the systemization, defending and recommendation of concepts that define the right and wrong actions or behaviours. Theories are categorised into three broad categories; metaethics, normative and applied ethics. Ethical theories are the tools that bring the foundation to the difficult situations. Normative theory and virtue ethics theory are the two theories that are mostly applied in businesses as far as operation is concerned (Butts and Rich, 2013). Situation Employees are represented by the labor unions (Davidson and Forsythe, 2017). Labor unions are the representatives of the employees in organisations; they are responsible for making bargaining agreements when the employees are seeking legal consideration such as good working condition, remunerations among other issues involved during contract signing (Trevino, 2015). Ethical theories are applicable when the employees and the employer are not in agreement concerning certain issues; for example, in a situation when employees demand salary increment, and the employer do not have enough money allocated for salaries. Negotiating salary increment requires some ethical theories to achieve long-term agreement between the counterparts (Gabriel, 2008). 3 Ethical Theories Applicable Normative theory is applicable during the bargaining process between the labor union and the employer regarding the salaries of the employees in the organization. Achieving maximum happiness towards the majority is the ultimate goal for the negotiation process considering the fact that employees are the human resources required by the organisation to run smoothly (Arnold, 2014). According to utilitarian theory, the pleasing majority is important because it can help the organisation to meet unity and connectivity between the employees and the business owners. Utilitarian is significant considering Human Resource makes over 75% of the business; employees operate machines. Thus they are supposed to be pleased to make sure the business meets the elements of a synergy system. According to John virtue theory is a technique to ethics that advocates that individual’s character is the primary element of the ethical thinking more than the rules regarding the acts themselves or their impacts. Therefore, virtue theory can be applied when the employees and the employer are in disagreement that may cause tragic repercussions to the business. Striking due to salary increment issues (Kolb, 2008). Explanation According to Law The issues regarding the disagreement between the employees and the employers supposed to be handled under the labor laws to avoid the misconception and abuse of the constitutional rights (Brenkert and Beauchamp, 2010). The employees is supposed to understand the prevailing labor laws before complaining and demonstrating (Fraedrich and Ferrell, 2017). The labor cost is regulated by the laws concerning the employees’ rights to remuneration; for 4 example, the prescribed salaries per job groups as far as the economic state and time value of money are considered by the employees and employers Benjamin and Curtis, 2010). Conclusion Ethical theories are vital to business processes because it helps in establishing good relations between the conflicting parties. Ethical theories such as the normative and virtue are applicable across all the businesses across the industries thus they are supposed to be taken seriously by all business stakeholders. 5 References Arnold, Denis. Ethical Theory and Business. , 2014. Print. Benjamin, Martin, and Joy Curtis. Ethics in Nursing: Cases, Principles, and Reasoning. Oxford: Oxford University Press, 2010. Print. Brenkert, George G, and Tom L. Beauchamp. The Oxford Handbook of Business Ethics. Oxford: Oxford University Press, 2010. Print. Butts, Janie B, and Karen L. Rich. Nursing Ethics: Across the Curriculum and into Practice. Burlington, MA: Jones & Bartlett Learning, 2013. Print. Davidson, Daniel V, and Lynn M. Forsythe. Business in the Contemporary Legal Environment. , 2017. Pr Ferrell, O C, John Fraedrich, and Linda Ferrell. Business Ethics: Ethical Decision Making and Cases. , 2017. Print. Flynn, Gabriel. Leadership and Business Ethics. Dordrecht: Springer, 2008. Print. Kolb, Robert W. Encyclopedia of Business Ethics and Society. Thousand Oaks: Sage Publications, 2008. Print. Mahoney, John. Teaching Business Ethics in the Uk, Europe and the Usa: A Comparative Study. London: Bloomsbury, 2013. Print. Trevino, Linda K. Managing Business Ethics: Straight Talk About How to Do It Right. Place of publication not identified: John Wiley, 2015. Print. . 78% 2:52 10 4GE Х Waypoint - Feedback https://au.waypointoutcomes.com WAYPOINT : + Back to Dropbox Assignment: Week 4 - Assignment Course: BUS670 BUS670: Legal Environment (MOD1735A) William Muniak View markup for BUS 670 Legal Environment Week 4 Assignment.docx Week 4 Outline EVALUATION Your Week 4 assignment was timely submitted. Good job! However your work would have significantly benefited from the use of APA outline format rather than na Please review your work for grammar and mechanics before it is submitted. Your topic selection would benefit from additional precision and clarity. Please be sure to avoid the brea multitude of business situations (which would not be manageable to fully address within the limitations paper assignment requires you to focus upon a particular business situation that presents a particular application of particular laws and/or regulations In addition, you were also required to identify at least two specific ethical theories under which the situa benefiting from additional identification and brief discussion regarding the specific applicability of two situation you identified. For example, the book discusses multiple ethical theories (eg utilitarianism, de relativism, egoism) and your outline would have benefited from additional discussion regarding the spec In addition, your work would have benefited from more being more specific and explanatory as to the pa your Final Paper. A general reference to such broad concepts as employment law.contract law' or even the specific law you will be addressing in your Final Paper) does not me to provide you with more specif track with respect to the relevant areas of law which are applicable to the business situation you identifs The exceptions identified above made it difficult for me to provide you with more specific guidance and respect to the noted deficiencies in your outline of the final paper). You did identity 10 sources and included those in your reference page good job! However you did NOT use the textbook Please feel free to contact me with any questions. Prof Will Muniak (0.45/0.60) Describes a Business Situation That Presents a Legal and Ethical Issue Basic-Offers a general description of a business situation that presents a legal and ethical issue. Relev (0.52 / 0.60) Describes at Least Two Ethical Theories to Be Used for Analysis of the Business Situatie Proficient - Offers a description of at least two ethical theories under which the business situation will be (0.38/0.60) Explains the Specific Areas of Law to Be Used for Analysis of the Business Situation Below Expectations - Minimally explains the specific areas of law under which the business situation wil (0.38 / 0.60) Prepares a Reference Page Below Expectations - Prepares a reference pages that contains at least seven scholarly references. Som contain significant errors (0.17/0.23) Critical Thinking: Evidence Basic Identifies applicable information from credible sources, but max neglect the application of such A 71% 8:04 10 * 4G! BUS670 Assignments Week 6- Final Paper /29/2017 Account Home Announcements Syllabus Modules Dashboard Courses Calendar Grades Course Policies Writing Center & Library Course Resources Inbox Help Final Paper Prepare an 11- to 15-page paper (not including the title and reference pages) that assesses a legal/ethical issue or situation relating to a current previous, or potential future work environment. Use at least 10 scholarly sources that are suitable for research in a graduate-level course. Your paper must include the following . A description of a business situation that presents a legal and ethical issue. The business situation must be from prior, current, or anticipated future employment experiences or from a current event. The description of the business situation must not exceed two pages . An analysis of the ethical concerns raised by the situation Apply at least two different ethical theories to the situation to support at least two different outcomes. • The paper must determine which ethical outlook as applied to this particular situation will result in the best legal outcome for the business . An explanation of at least three of the relevant areas of law that have been addressed in this course les constitutional law.contracts, anti-trust law, securities regulations, employment law, environmental law, crimes, or torts) and an assessment of the each area of law as it applies to the business situation identified, . A recommendation to reduce liability exposure and improve the ethical climate or the overall ethics of the situation. Your recommendation must be supported by specific legal, ethical and business principles Writing the Final Paper The Final Paper: . Must be 11 to 15 double-spaced pages in length (not including the title and reference pages, and formatted according to APA style as outlined in the Ashford Writing Center . Must include a title page with the following: • Title of paper Student's name Course name and number Instructor's name • Date submitted Must begin with an introductory paragraph that has a succinct thesis statement which identifies the focus of the V
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