Are ethics and profits mutually exclusive

Document Type:Essay

Subject Area:Business

Document 1

This paper will follow each one of these steps plus allow us to see the same or divergent opinions and arguments of these five different sources. Although business ethics may not be the first factor to be considered when determining the success levels of business, it is an equally vital driving force in driving a business to prosperity. Introduction For profit to be made, ethics should not exist. It has been proved that most business and organization opt to practice uncouth business so as to register a profit and not a loss. By undertaking this, businesses no longer practice ethics. If a business does not make profit it may lead to bankruptcy hence its closure and extinction. Hence strive for many businesses to achieve profit forgetting that they also need ethics to achieve success and operate under the law.

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Why Business ethics and profits are mutually exclusive According to Byrne, Ethics on the recent years has brought a lot of controversy with business and organizations striving to adapt it in their daily routine. Ethics is very vital in a business setting hence people are encouraged to embrace it. It aids in employees coming to terms of what is wrong or right in a business mostly in relation to the services offered and the stakeholders. And, a business provides "livelihood" for others despite the fact that it is "immoral. " So, the author believes these businesses should be applied as “target of the investigation. " Towards Enforceable Bans on Illicit Businesses In this second paper, "Towards Enforceable Bans on Illicit Businesses: From Moral Relativism to Human Rights," the same author (Edmund F.

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Byrne) argues that illicit businesses make up a big portion of the global economy. He refers to this principle of "ethical diversity" and religious or legal norms that influence the proper functioning of businesses. In his paper, Wettstein emphasizes the importance of human rights in defining the concept of "Corporate Social Responsibility". " The concept of CSR deals with the very essence of what it means to do and be a business, that is, with the very purpose and ever-changing role of business within society" (Wettstein,212, p. Corporate Social Responsibility plays a vital role in business because it deals with social responsibilities that firms or corporations apply by respecting the mandatory laws or proper regulations and following human rights. The author addresses " the problem of voluntariness," and he defines " voluntariness" as something that is either not mandated by law or something optional or legal.

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Based on these three different ideas, you can make various inferences or interpretations on whether or not “voluntariness" is an obligation or a choice. "In the twentieth century, the practical political challenges of embedding human rights in international law have dominated the agendas of emerging international institutions like the United Nations, particularly since the end of the Second World War" (Cragg, Arnold, & Muchlinski, 2012, p. The United Nations is an important organization that regroups many countries, and as an emerging power of the twentieth century, it influences human rights and the "due diligence" of corporations. "Human Rights and Business" and CSR and the Debate on Business and Human Rights: Bridging the Great Divide" both involve corporations, duty of diligence or responsibility towards corporations.

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In the third source, Wettstein emphasizes the importance of understanding Corporate Social Responsibility to better operate a business. However, the fourth source puts more accentuation on a "framework" of an international institution as well as the contribution that it brings to "corporate responsibility" and human rights. " Byrne makes two different arguments regarding illicit businesses, but the illustrations that he uses about religious norms and acts of war are similar even if they apply to some other concepts. His writing and style contribute to the organization of his papers and push the reader to make connections to understand the impact of ethical norms. Everyone can have his or her perspective on what is moral or immoral. But, when it comes to businesses, the interest in making money or the fact that people are being corrupted prevent individuals across the spectrum to make sound business ethical decisions.

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