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BETH 5120 Business Ethics And Social Responsibility

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BETH 5120 Business Ethics And Social Responsibility

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BETH 5120 Business Ethics And Social Responsibility

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Course Code: BETH5120
University: Seattle University

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Country: United States

Question:
Demonstrates thoughtful reflection on the concepts of business ethics, ethical principles, organizational issues, personal and organizational learning, and other important features discussed in this course.
Answer:

Business Ethics
Business ethics entail principle sets that are used in the determination of the right thing from the wrong thing. This brings out one’s behavior or conduct. In business, the decision-making process that involves individuals can be determined to be ethical or not. There are essential business ethics which are crucial to the development of a business. In addition, an individual’s ethical standing has to be taken into consideration. In that note, the standards used to measure one’s ethical standards apply to the standards used to measure a business’s ethics.
The concepts of business ethics
There are concepts as well as issues surrounding business ethics. Moral standards are applied to organizations and systems which aid in the production and distribution of goods and services. This also applies to individuals working with the organizations and the systems they are subjected to. Concepts in Business ethics have concerns with three various types of moral or ethical issues, (Botta et al., 2018, 78). These include issues affecting how businesses are conducted within specific systems that the business has been established on with the conclusion of political, economic and legal or social systems. The second aspect or concerns is pegged on corporate issues such as a company’s conduct. Lastly, certain concepts observe issues faced or brought up by individuals especially in terms of different behavior amongst employees in a company.
Businesses have been considered to be “corporate citizens” hence their ability to be judged as having moral and ethical values, (Greenwood & Freedman, 2017, 2). In such businesses, employees, stakeholders, and employers seek to know the business’s standards and moral values and what they mean to them. The importance of these morals and ethics are also considered especially on how they help in the decision making processes. Lastly, the corporate entity seeks to determine how moral standards can be used to accomplish its activities that lead to success.
The motive to get profits is overshadowed by the existence of ethics in a business. Business ethics that are good strive at ensuring that codes of moral conduct are adhered to so that consumers have the best expectations of the products and services they seek from the business. Despite the aim of getting profits, businesses have to ensure that the rights associated with human beings have to be observed at all times since intense scrutiny follows when these rights are compromised. Good ethics have to be adhered to for a business to succeed and have a good reputation. By adhering to ethical conduct/business ethics, the business is able to discourage disobedience and breaking of laws in the business entity. Employees and other members are always reminded to uphold morality and ethical behavior, (Mele & Fontrodona, 2017, 672). In addition, expensive lawsuits against the business can be avoided by upholding ethical standards. Employees and customers have rights and as such, businesses are mandated to observe the rights. Lastly, a business’s image is important. By adhering to moral codes of conduct and business ethics, a lot can be achieved. For instance, profitability will be realized, revenue losses due to reduced customers will be avoided and the business’s reputation will be upheld.
Ethical principles
There are four main ethical principles. The first is Respect for Autonomy. Autonomy is associated in Latin to mean “self-rule” where other people’s autonomy has to be respected. This is in relation to the different decisions that an individual makes in life. Competent adults must be understood and their decisions should not be interfered with. On the other hand, their decisions have to be empowered. In business, consumers and their decisions or choices have to be considered. Businesses have to also provide goods and services in relation to what a client desires.
The second principle is Beneficence. This means that individuals have the duty of bringing out or leading to the occurrence of good results from all actions. One should prevent harm despite the conflicts that one may be faced with, (Mladenovic, Martinov & Bell, 2017, 10). In business, one has to make tough pricing decisions based on the inputs. Despite the consumers having a say in the pricing, economic times dictate the pace hence the conflicts that may arise. However, the need to provide quality goods and services has to be implemented fully.
Nonmaleficence forms the third principle which requires individuals not to do or commit any kind of harm. In situations where harm cannot be evaded or avoided, one is tasked with the duty of minimizing it, (Orlitzky, 2017, 718). In addition, risks associated with harming other individuals have to be reduced too. The use of resources is also covered in this principle and individuals are required not to waste resources.
Lastly, the principle of justice is part of ethical principles. Here, one is tasked with providing to others what he or she owes. Also, one is needed to equally treat others in society in a fair way too.
Organizational issues
Businesses and organizations always face issues that affect them. Some of these issues range from political, economic, geographical and at times developmental issues, (Grady 2017, 20).  The main issues that are faced by organizations range from, productivity, job role designs, process management, relationships with various customers, people and lead to the need for more innovative ideas. In as much as businesses attempt to bring out a positive outlook, these aspects hamper the way in which they exist. Technology has been a major factor in determining whether a business prospers or not, (Pearson, 2017, 112). For instance, businesses are moving from the normal brick and mortar businesses to online businesses. The rate of competition is also on the rise hence the lack of profitability. In addition, organizational culture also hampers the operation of businesses especially when there are different cultures in the organization.
Personal and organizational learning
This mainly entails the aspect of learning between similarly minded individuals so that progress is achieved. Existing areas are improved on so that productivity is increased. Through interaction with different employees, one is able to learn every day. Organizational learning also aims at providing better value to existing and new customers through the provision of quality and excellent products, (Pedersen Gwozdz & Hvass, 2018, 267). As such, organizations are tasked with reduction of errors, development of new business models, increasing productivity as well as participating in societal responsibilities.
The learning experience in the course and identify areas of your greatest (or least if necessary) development or understanding
My learning experience in the course enabled me to have new insights into business ethics. This is in relation to how business entities are run with the main pillar being adherence to codes of conduct set by a business entity. This also leads to the creation of business ethics and principles which are essential in the business and corporate world. By having a better understanding of ethics and morals, one is able to have a successful work relationship with others as well as the community at large.
References
Botta, F., Bain, G., Ogundare, A., He, Y., & Li, Y. (2018). Ethical Principles highlighted by Nestlé. 78-93
Grady, C. (2017). Ethical principles in clinical research. In Principles and Practice of Clinical Research (Fourth Edition)(pp. 19-31).
Greenwood, M., & Freeman, R. E. (2017). Focusing on ethics and broadening our intellectual base. 1-3
Melé, D., & Fontrodona, J. (2017). Christian ethics and spirituality in leading business organizations: Editorial introduction. Journal of Business Ethics, 145(4), 671-679.
Mladenovic, R., Martinov-Bennie, N., & Bell, A. (2017). Business students’ insights into their development of ethical decision-making. Journal of Business Ethics, 1-13.
Orlitzky, M. (2017). How cognitive neuroscience informs a subjectivist-evolutionary explanation of business ethics. Journal of Business Ethics, 144(4), 717-732.
Pearson, R. (2017). Business ethics as communication ethics: Public relations practice and the idea of dialogue. In Public relations theory (pp. 111-131).
Pedersen, E. R. G., Gwozdz, W., & Hvass, K. K. (2018). Exploring the relationship between business model innovation, corporate sustainability, and organisational values within the fashion industry. Journal of Business Ethics, 149(2), 267-284.

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