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Theoretical Concept approaches of business ethics

Business ethics is the attitude and ways that a small business is created and the way in which a business package with the globe. Many businesses act in divert or different ways depend on just how it's made by the owners of the business. Business ethics serves as a theory and standard that is guiding behavior of people in the business. Many business have different reputation will depend on the ways in which they are produced some business have bad reputation while some have bad reputation. Some businesses are formed for money making venture although some are made because they want to generate income and at exactly the same time want to give its customers maximum satisfaction. How a company is formed brings about ethical behavior. Ethics is a set of moral principles that a business should follow and prices that a business should embraced for a business to be successful. Most business should have a code of ethics in order for the business to have a principle guiding the business enterprise so the business can be flourishing.

Crane A and Matten D (2004) identified business ethics as the analysis of business activities and decisions where issues of incorrect and right are attended to.

ETHICS:

Ethics in an enterprise about value culture, value for other and value for self so that there may be fairness in the contemporary society and things can be done appropriately and well in our environment. Ethics is all about the ways in which people behave in our society.

TYPES OF BUSINESS ETHICS:

MORAL OBJECTIVISM: This can be describe as what is morally incorrect or right in term of the behavioural attitude of a person. They are fact that which is not specific physical facts, or that which you feel or assume to be morally truth. Moral objectivism is super easy expressing, it is either good or bad and moral objectivism can be said to be non consequentiality.

MORAL RELATIVISM: What is morally incorrect or right will depend on what individual perception and it change from one person to another and also from one culture to some other and it could be connect to the society cultural belief and its belief that different people have different history which can be linked to our individual moral opinion and culture. The overall belief is that it is wrong to say that certain culture or idea of individual is more advanced than another culture. We can base what's right or wrong on what specific idea and environment which we've our personal also contribute to what will belief.

CONSEQUENTIALISM: This is the theories which effect into the outcomes of a particular action that includes a valid and moral judgement about the action. Moral wisdom about the action will need to have facts and must be valid. The consequentialism can be describe as an function that tell us whether the outcome of a behavior is morally or ethically right and it may also be right or wrong. The judgment about consequentialism should be significant.

DEONTOLOGY: This is a Greek phrase this means deno, which suggest responsibility and the logos, means science. It focuses on moral rules and duties. In order for us to make moral choice, we have to know our moral tasks and how exactly we can adjust to prospects responsibilities. If we follow our duties were doing morally things if we fail to follow our responsibilities we have been doing immoral things. In deontology our responsibilities, rules and responsibility is corresponding to God needs.

PRINCIPILISM: That is ethics that targets medical medical care. This concerning do with moral issues associated with doctor who are responsible for healthcare of specific or group of people. Principilism focuses on moral principles namely autonomy, beneficence, non-maleficence and justice.

In conclusion ethics is focused on moral concept which is ruling what's right or wrong in individual conduct whether the principle regulating right or wrong is accepted by specific or groups inside our society. Some business activities that human being take part in might be lawful and unlawful that will also be unethical to individual, for example

Selling a good that the cost of processing is low wages to growing countries will be regard as unethical also using dog as experimenting can even be unethical.

The idea of absolute and comparative ethics:

Ethical theories depend on what's right and incorrect and the outcome of the action. Doing what's right is obeying your obligations and the rule that guide an enterprise. Ethical behaviour of people doing business is very important in our contemporary society. Our moral opinion about life changes as time passes. There differs kind of individuals in the world coming from different ethnics group which moral perception and culture differs, therefore people's perception and thinking to things happening in our modern culture now is different. Some notion in the presence of religious beliefs others do not perception in religious beliefs. Some belief that abortion should be urged in our contemporary society other feel it is taking of human life. In a few area of the world some beliefs in circumcision of women while other feel it is barbaric and immoral. Therefore moral belief has to do with our culture, society and belief we all have because of our religion and qualifications.

ABSOLUTE ETHICS: The fact that there is merely one truth and code of do which people generally perception in, which everyone obey which is the reality and everyone must obey it and folks must be aware of computer.

RELATIVE ETHICS: The notion of comparative ethics is bottom on the actual fact that there is only single moral standard which pertains to all individual. The moral ideas and notion of human being differ from each other and also people notion in different part of the world is also different from one another which show that there surely is no stable moral standard in the world.

The difference between overall and relative ethics is explained below:

ABSOLUTE ETHICS:

The general notion is that there surely is a widespread moral standard.

There differs between what's right and incorrect.

RELATIVE ETHICS:

Relative ethics say there is no universal moral standard on earth.

The family' ethics says there is no difference between what's right and what's wrong.

Ethical issues which can affect the functional activities of a business:

The ethical conditions that can affect a company operational activities of a business today inside our world can be summarize as what is a happening in today's business. The way the business is working if the business enterprise is working ethically or not, business ethic in an organisation is the duty of the first choice and follower within an organisation.

The pursuing are a few of the management ethic in an organisation:

EMPLOYMENT Regulation.

EQUAL OPPORTUNITY

EMPLOYMENT REGULATION

DIVERSITY

EMPLOYMENY Legislations: It has regarding employment of employees, the least wages that staff will be paid, working time which will be made recognized to the employees when they are employed, also the occupation terms and conditions must be obeyed. Regulations that are governing employment inside our various organisations which is quite different from one another company to another company depend on the plans and the ways that the organisation is structured.

Some organisation are versatile and the working conditions and how they treat their employees is foundation on the procedures followed by the company, they ensure that the environment where their employees operate is safe and accident free and the make sure employees experience training on health insurance and safety so that they do not risk their lives in case there is risk at work, they make sure they tell them the implication of hazards and danger at work which are some of the things organisations should let their workers know before they begin working.

The case of BP petrol company one of the world largest oil producers in the world. It had been find out that the there was lapse safely of lives at the refinery by the US Chemical Safe practices and Hazard Exploration Board. It was noted that the company was endangering its employee's security by cost lowering. It had been also known that BP was spending money on project instead of spending money on safety of lives of its employees. The issues are that the management of BP did not take protection of its employees as their priority as well as the management of BP did not understand the safeness culture within the company. Employment law can affect a company and it might even make an enterprise to collapse therefore it is necessary that we should apply business ethics in company while dealing with work and employees within the organisation to make the policies and framework of the organisation work based on the aims and objectives.

EQUAL OPPORTUNITY: Equivalent opportunity should get to all in the culture without discrimination of age, colour, making love, or ethics or where in fact the person should have come from, everybody should get equal chance to in the modern culture. In some organisation they don't want to employ female because they believe that they'll not work in line with the rules and regulation of the organisation, they believe that they'll always want to be on leave while they are pregnant or take maternity leave which can not be good for the company because they think while they are suppose to be at work they will be on leave which will be a setback for the organisation.

This apply to the day to day running in business, there must be honest behaviours in the ways employees treat its personnel, customers and everything stakeholders in an enterprise, a company that apply ethics in the business makes the business enterprise to reach your goals and an enterprise should be responsible for its employees, customers, world and provider so that there will be common understanding between all the stakeholders which indicate the business has been run ethically, owning a business ethically indicate providing all the requirement that a business need to flourish making the business enterprise to grow and be productive because staff are being cured nice, by paying the minimal requirement of pay to employees and also providing a health and safe environment because of its customers and given equal opportunities to all the employees without being bias and advertising should get to employees when credited, all of these ethics a business should give all stakeholders in a business in order to consider the business to be ethics.

The opinion of other is that they have the right and they should be given the chance and privilege, this are some of the ethics in a business, if the company and stakeholders can understand today business organisation and our population, things will work well there will never be discrimination or whatsoever in our society, everybody will have equal opportunity and things will continue to work well for all of us all in our environment.

If people are not given equivalent opportunity in a office it make a difference the functional activities of the business enterprise because most of the workers will never be happy and diligent at work because they know they are not been treat with fairness and justice at work so therefore they have nonchalant frame of mind to work and they will not want to utilize seriousness because they know they aren't been cared for with similar opportunity. They are the ethical issues that have to be addressed within an organisation so that you will see equal possibility to all no subject the age, love-making, religion or colour.

EMPLOYMENT Legislation: This are the laws governing employment related issues which might eventually employees within an organisation. For instance transfer of work contracts and how worker are been guarded during transfer of deal and takeovers of an deal from another company to another. There should be fairness and employees should be cared for with justice in particular when a corporation is winding up, the workplace should pay a reasonable amount of money to the employee, which shows that they have business ethics in discharging their obligations by treating their employees in a good manners. This issues is affecting the business organisation today, and a lot of big organisation has good work regulation because of their employees because they want the provide best for his or her employees because they realized people are aware of their protection under the law and tasks so they'll not want to take their workers for granted they always provide them with the best and offer a conducive environment for them to work. They may be make sure they pay their employees good working conditions and good wages in order that they too could work being that they are been paid for the assistance they render. Both parties in a small business should show ethical behaviour in a company so the business can be fruitful and successful, they must be sincere in all their dealings plus they should work hand in hand so that the aims and aims of establishing the business enterprise can be achieved by all the stakeholders.

DIVERSITY: This is composed of different people from different nationwide origins and nationality. The workplace must recognize that different people result from different record and culture therefore the employers should never discriminate or bias in any form, the employer must treat its employees the same way and make the working environment conducive and safe in any way time. When workplace treat all it has the employee the same way and present them identical opportunity both people with disabilities and others with different faith or idea, the working environment will be conducive and the performance of every employee will be effective and the business enterprise performance of the organisation will be positive and beneficial and the company business performance can be termed moral because the company is behaviour is good towards its employees.

How business objectives are damaged by ethical considerations:

Ethical considerations help a business to attain its goals and objectives of the business. Ethical considerations is very important in a business when business are done ethically the business will be profitable and meet up with the expectation of its stakeholders. For instance a good example is child labour in some cloth retailer in the United Kingdom where the development plant is in Asia, the workers are paid below the bare minimum salary and also subject to poor working conditions. That is noted to be unethical to business and to workers who are being paid below the bare minimum wages because according to the labour rules, all personnel must be paid least wage so when employees are paid below the minimum wages it is termed to be unfair.

Abraham Maslow in his hierarchy of needs theory said the surroundings make a difference our thinking if we are not careful about the environment and our thinking and attitude in our environment. When a business is consider to be business ethic, that business should focuses on the ethical thought like Profitability's and meeting the stakeholders expectation, therefore the business will be termed to be ethical. If a business practices ethics it'll achieve the business objective and the business enterprise will be successful.

The following will be the business goals:

PROFITABILITY: The seeks and objectives of each business is to make earnings although some company are made for charity purpose but most business are created because they want to make income and meet the demand of its customers in any way time.

ETHICAL AND Communal RESPONSIBILITY: The goal of every business target is based on the idea and steps to make its environment friendly to customers and safe. Some business also belief to take care or provide for the less privilege inside our culture especially the disabled who need special treatment, for instance in the UK the federal government provide special disable toilet for all the disable plus they can make use of the toilet in every the public places.

MEET THE STAKEHOLDERS EXPECTATION: Every business is made by individuals who are accountable for the affairs and that has interest in every the actions of the organisation. There are various stakeholders who are area of the success and management of every business within an organisation. For good examples, customers, suppliers, employees, shareholders and neighborhoods are stakeholders in an organisation who contribute to all the activities in an organisation. The aims of each business are to meet up with the expectation of all the stakeholders because they are area of the decision maker and they donate to the success of the business enterprise.

SALE Expansion: The aims of all business are to increase its sales. Expand and start more branches and make labels because there are so many organisations that are fighting with each other so most organisation want to own best customers service to all its customers and provide good customers satisfaction to all or any its customers all time because of strive market competition.

The following are a few of the ethical issues of your organisation:

TREATMENT OF CUSTOMERS: An company should treat its customers with good customer's service and offer an enabling and protected climate for its customers. Company should provide after sales service and provide its customers and show honest behaviour towards its customers in any way time. It will allow a good customers marriage between your customers and the company.

TREATMANT OF EMPLOYEES: They need to treat its employees with fairness in every its working by provide an enabling environment, give campaign to employee at when due, they also needs to provide training and recruitment should be done without bias or sentiment, these are some of the ethical behaviour that needs to be used by an organisation in order showing employees that the organisation support issues regarding corporate social responsibilities.

WORKING CONDITION: An company should provide an enabling and conducive environment for its customers, employers, suppliers, vendors and also other stakeholders so that there would be safe and accident free environment whatsoever time. This may show how an company values its customers, suppliers and other stakeholders. It's the social responsibilities of your organisation to show that they provide a conducive environment and protect the image of most its stakeholders by promoting unfair trade, good working conditions.

CORPORATE Behavior: An company must be honest when interacting with other organisation and people they are really doing business with in order to safeguard their image and also have a good working with other company that will have a good effect on the organisation all together. Organisation that has a good working with all its stakeholders will always progress and have a good understand using its stakeholders and the work push. If an company employs business ethics the business enterprise will be profitable and meet up with the desire of its stakeholders.

Implication for a small business and its own stakeholders to operate ethically:

Business cannot operate minus the stakeholders they contribute immensely to development of an organisation. They donate to the development of a business and they take active assignments in the development of the business and they ensure they contribute their own quota to the development of the business. There are many stakeholders within an organisation. Listed below are various stakeholders within an organisation.

The diagram below shows various stakeholders in an organisation;

Knowing your stakeholder, Available online at http://www. bized. co. uk/educators/level2/busactivity/activity/knowing11. htm Accessed 14/11/10

The following will be the implication of an business that is performed properly and what occurred if all the stakeholders do things ethically:

MARKETPLACE ADVANTAGES: A business that is done in a manner that is suitable and follow the business ethics by conducting itself in a good and reputable ways has the advantages of taken over the marketplace and dominating the market environment and be the major player on the market. The organisation will be know and well recognise by all. A lot of people will want to do business with any organisation that follow the business ethics especially organisation that cater for all its stakeholders and present them maximum satisfaction in every its working. The organisation will have value and most of the stakeholders will usually wish to accomplish business with such organisation because they know they have got good business ethics. Both organisation and the stakeholders always work together if the stakeholders to comply with the rules and regulation led down by the company both celebrations achieve positive result and improvement in various areas especially within the company.

INVESTMENT AND GROWTH: When business is done properly both company and the stakeholders are damaged because the business will develop and also many people would want to invest in to the business as well as the business will be known on the market and therefore you can find possibility for extension which can make the organisation to be well known and become the major player on the market.

EMPLOYEES PERFORMANCE: This will lead to employees' performance in term of efficiency and also it will end result into cordial romance between the employees and all the stakeholders with an company. Business ethics give morals within an company because employees know that their rights and safeness are well safeguarded which will make them to execute better and interact with other people of the organisation as a team to be able to get positive end result.

DEVELOPMENT: When business is done properly by an company and the company ensure business ethics is practice within the organisation, both the organisation and the stakeholders interact to ensure things are done properly you will see development in the organisation which will effect development of the organisation. In case the stakeholders contribute effectively to the development of an organisation you will see development, and the moral of the business will be build and also boost the production of the organisation.

BUSINESS GOAL: It can help the organisation to attain common goal, organisation and stakeholders practice honest value which help to achieve common goal. The organisation and the stakeholders practice honest value which allow a company to done ethically which has positive impact on the organisation a whole because the business enterprise is ready achieve its aims and objectives since the organisation and its stakeholders plays their roles very well for the success of the organisation in order to accomplish common goals.

The following will be the negative effect of operating an enterprise unethically in the society:

BAD REPUTATION: The company will be known to have a terrible reputation because the public will be aware that they are not conducting business ethically that will have a negative impact on the organisation. For instance the issue of BP, the lapses about the organisation was made recognized to the whole world because it fails to operate its business ethically they didn't make satisfactory provision for the safety of lives of its employees.

The made the organisation to truly have a bad reputation. An organisation that is not doing business ethically will will have a bad reputation because this will have a negative influence on its employees and the organisation all together.

LOW CUSTOMERS: An enterprise that has a bad reputation and can have a poor effect on the business, the business will eventually lose a few of its customers and sales will drop which can result into concluding up of the business enterprise being that they are not working ethically. Most people will not wish to accomplish business with the organisation and also this will possess the stakeholders since they are area of the organisation. They will not have the ability to make the amount of money they have spent in to the business since the sales of the business enterprise is damaged especially the shareholders who've spent their capital in to the business. They'll not have the ability to make the administrative centre that they have invested into the business and the business might grow to be a failure. They are a few of the negative effect of a company not working ethically in the population.

CONCLUSION

A business company that operate ethically will gain by training business ethic in the culture because the business enterprise will flourish and expand when a business organisation give a conducive environment for its employees and also ensure that their safeness is assured in the working environment such business company can be referred to be training moral business ethics and the business will grow and sales will also be increased since such an enterprise will pull more customers from different angel. Therefore an enterprise organisation that functions ethically will be successful and meet up with the expectation of its stakeholders.

Also a company should provide certain obligations for the neighborhood communities who are area of the stakeholders, when a business be a part of local communities development they will be recognise in the modern culture as well as are adding their own quota to the development of the communities since they are area of the communities such business is doing business ethic being that they are area of the business organisation. I'll conclude that business company can benefit when they practice business ethics because the business will increase and also make maximum profit because such business company is functioning ethically.

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