Ethical Issues in Business

Feb 3rd, 2012
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Ethics – the study of whatever is right and good for humans Business ethics – business actions etc in light of some aspect of human value. - it requires the evaluation of business practices. - Goes beyond facts to include the “ought to” of a situation.

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Ethical Issues in BusinessSome definitions:Ethics - the study of whatever is right and good for humansBusiness ethics - business actions etc in light of some aspect of human requires the evaluation of business practices.Goes beyond facts to include the "ought to" of a situation.The two traditional issues involved with ethics:1. Ethical Relativism - are there universal values that apply to everyone or is everything relative to individual, country, company etc.a. Relates to cultural relativism. This presumes that different peoples reason about morality varies by culture, education and religious traditions. b. Arguments for ER are: i. Empirical evidence of cultural relativism.ii. There is no viable universal standard that can be applied to everyone.c. Arguments against ER are:i. Just because finding universals is hard - that does not imply that ER is correct.ii. Just because a particular issues is not resolved does not imply that it is, in principle, not ever resolvable.iii. Taking ER to its full extent means that you can't justify any moral judgements at all.d. The Foreign Corrupt Practices Act (1977) attempted to legislate that what we say is moral is how we should behave. This Act was driven by the issue that you are being inconsistent with yourself if you say something is immoral yet do it anyway just because you are in a foreign country.2. Truth telling - can you ever justify not telling the truth? Must we communicate honestly?a. A vigorou

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