Please reply with at least a paragraph with references in you use them as well as any questions you might ask.
Business ethics are formulated at the management level to ensure that the organization is maintaining professionalism as well as paying its duty to its customers, government, suppliers and the employees. To effectively do this there has to be a moral and ethical framework that guides the conduct of individuals in the organization. Business owners are seeing the need to inject principles of moral ethics, and this entails applying a moral framework to the way the business is being conducted.
Aspects of the moral framework include; application of religious values, application of generally accepted cultural beliefs in the society, and morals adopted due to our upbringing. A principled approach to this entails an evaluation of whether their incorporation will help in connecting with employees and customers make more profit, and whether the company stands to lose due to incorporation of this framework. If the framework proves to be beneficial to the organization, then it will be prudent to incorporate it.
R. Edward freeman’s stakeholder theory introduced in 1984 stated that companies and organizations have a moral obligation towards their shareholders, employees and customers. Therefore, when applying the above aforementioned moral and ethical framework to the contemporary ethics addressing the global component it will become practical in the following ways; application of the religion impacts ethical values in the organization thereby promoting honest dealings with customers, additionally incorporating generally accepted cultural beliefs that are morally upright ensures that the global or societal standard modes of operation of the business are generally accepted and finally injecting virtues due to upbringing.
The moral and ethical framework addresses the human resource issues in the organization, it facilitates cooperate social responsibility in the society thereby fulfilling the moral obligation the company has towards the people and its customers and finally ensuring that the government does not put stringent measures that prevent the company operations due to misconduct. This makes it easier for the company to globalize effectively. Application of the frameworks addresses the issues facing the organization and in the long run, the company is in a position to increase the profit levels well as customer satisfaction.
Jeremy Bradley, Moral Ethics vs Business Ethics. Demand Media. 2016
Pandey, R. K. Global business ethics. New Delhi: Anmol Publications. 2013
Frederick, R. Global Business Ethics. International Encyclopedia of Ethics. 2013
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