ETHICS

Ethics

Ethics

Task one: Ethical issue

Business ethics is a somewhat of a young area of study which has not matured in decades, usually people accept it as an approximate way of working in a traditional society. According to the article, it is difficult to highlight what is ethical, and what is not. It is acceptable as factual science, that when business ethics turn to organizational matters, they manage not to address the financial context in which the management of the business takes place, but rather in an organizational context altogether. This topic presents managers in companies with tough business conclusions founded on the uncertainties of heritage relativism (Navran 2006, 16).

The stakeholders and their stakes

One of the most recurring ethical matters that can be discovered in the locality of companies is the number of them that have managed with the inquiry of bribery and gift giving in global business. This topic presents managers in companies with tough business conclusions founded on the uncertainties of heritage relativism. It may be the case that, in their dwelling homeland, the exchange of presents between business aides is unethical and, in some situations, such swaps may be construed as illegal bribes.However, in numerous owner nations business gift giving is a heritage anticipated part of managing business and business connection building. In detail, in some nations the malfunction to give presents may lead to the decrease of business transactions since the owner may take the non-attendance of a gift as an abuse and in some contexts the worth of a gift is to be high. Gift giving in global business transactions is, therefore a difficulty of relativism and is often in the precept “When in Rome, manage as the Romans do”. This vintage adage proposes that the occurrence of heritage relativism is genuine and that there may be more than one ethical benchmark as asserted by which persons require measuring their actions.Moreover, it proposes to managers in companies that they require being mindful of any dissimilarity in owner homeland business practices that go away from their own and that occasionally these might confrontation with their own dwelling homeland business ethics and fundamental values. In this case, gift giving may emerge to be a pattern of bribery that corrupts the grade playing area of business or it may just emerge to be an acknowledged and regular part of business relationships, it all counts on your outlook from the owner or the dwelling homeland and the appropriate standards that stand behind that view (Brown 2006, 41).

Relevant regulation

Corporate codes of ethics can be based on ethical principles, which evolved to some extent limit the maximum ethical requirements:

Utilitarian principle - provides the greatest benefit to the greatest number of people

Individualistic principle - aims to achieve someone else's long-term interests.

Social responsibility of balancing the power of corporations and corporate liability

Voluntary social responsibility to avoid enforcement of government regulation.

Task two: The ethical issue

Business ethics is a requirement of the person, whatever his job. If maintaining a genuine concern for employees providing "dignity and respect," the ...