Business Ethics

LECTURE REVIEW 1

As per my understanding bribing is undertaken by a person or an organization when he/she adopts unfair means like under-table dealings, or giving unethical favor to persuade someone to act, as they desire.

Example- Company A’s manager gifts an expensive thing or favors Company B’s manager in an unethical way to pass their (Company A) contract and give them the business deal.

I think taking or giving bribery is wrong on the part of the company as it gives rise to other unethical activities as well. As the world is becoming a global marketplace owing to the increasing power of the MNC’s and their role in the marketplace across the globe, it should be the responsibility of the companies and other business to act ethically in their daily business dealings.

To support my opinion mentioned above, I would like to use two theories.

1) The first theory I would use is the Kant’s Deontology theory. Based on this theory, a person/Business organization should adopt virtues that are morally valid and also Business/people should act according to them without thinking of the repercussions and the outcomes.

Under the Kant’s Deontology theory, there is a law known as Categorical (universal) Imperative, which supports my opinion. Within this law there are 3 main principles –

* Universality- This principle suggests that we should act according to the universally accepted norms and virtues. In simple words it means, that actions that are right for others, should be right for us. The virtues that are universally accepted are non contestable and should be respected by everyone.

In case of bribery the topic becomes quite debatable because in some countries taking bribe is very common whereas in some other countries it is considered unethical and even illegal to do so. For example- In my country India that is a developing nation, taking and giving bribe is common in a business to decrease the interference of the local authorities whereas in...