Ethical and Moral Philosophies

Ethical and Moral Philosophies

Sarah Martin

OMM640: Business Ethics & Social Responsibility

Dr. Cedric Alexander

September 9, 2013

Ethics and moral philosophies can affect our decision making in almost any situation. In a business setting, this is also very true. Throughout this paper, there will be discussions about moral philosophies and its' application to business, as well as how morals can influence behaviors and decision making, along with how moral philosophies may impact global strategic planning, and how companies can integrate moral philosophies into their business practices, as well as an example of a company that has integrated morals into decision making and codes of conduct.

For several years, there has been an introduction of morals and ethics not only in our daily lives, but in the business world as well. Moral philosophy “refers to the specific principles or rules that people use to decide what is right and wrong” (Ferrell, Fraedrich, & Ferrell, 2013, p. 153). According to Ferrell, Fraedrich, and Ferrell (2013), “moral philosophies present guidelines for “determining how conflicts in human interests are to be settled and for optimizing mutual benefit of people living together in groups”. They direct businesspeople as they formulate business strategies and resolve specific ethical issues” (p. 153).

Moral philosophies help us determine how to make a decision. They also help guide us in making ethical decisions. Making the right decision can be tricky when in the business world. A person's moral decision making might differ from making a decision outside of business. “Moral philosophies are ideal moral perspectives that provide individuals with abstract principles for guiding their social existence” (Ferrell, Fraedrich, & Ferrell, 2013, p. 154).

Our values also impact how we make decisions. “Values, however, are our measures of importance, whereas ethics represents our judgments about right and wrong”...