Ethics

WEEK 1 Ethics in Action BUS 670

Business ethics are engaged in the corporate world in order to encourage and regulate behaviors that affect the business decisions that are continuously presenting themselves. Employers and their employees are constantly faced with situations that put individual's morals to the test. In addition to an organization striving for profitability and gaining long term business value, organizations should also focus their efforts on promoting social responsibility. Not only should employers aim to serve their local community, but also encourage their own employees to lead better lives. There are many theories that encompass the application of business ethics and behaviors to use in order to cope with ever-changing social norms and the diverse cultural differences that exist among the corporate world. Mallor, et al. (2010) discusses four of these theories and their foundations in corporate ethics: Rights Theory, Justice Theory, Utilitarianism, and Profit Maximization. Two of the theories focus on results of a decision or action; conversely, two of the theories focus on the decision or action itself. Rights theory of corporate ethics attempts to satisfy ethical dilemmas by considering the basic fundamental rights that all humans pose by simply existing. Each of us faces a moral compulsion not to harm the fundamental rights of others (Mallor, et al., 2010, pg 93). This theory stems from 18th century philosopher, Immanuel Kant, who viewed humans as moral actors that are free to make choices. He formulated this idea by insisting the answer to an ethical dilemma could be applied to any situation, and therefore defining it as ethical law. He stated, Act only on that maxim whereby at the same time you can will that it shall become a universal law. Treat humanityas an end in itself, never merely as it means. In Kants eyes, we should not use or manipulate others to achieve our own happiness (Mallor, et al., 2010, pg 94) Not only can this theory...