• Join over 1.2 million students every month
  • Accelerate your learning by 29%
  • Unlimited access from just £6.99 per month

The importance of business ethics.

Extracts from this document...

Introduction

Rommel Mendieta Business Ethics Mr. Noel Sevilla The importance of business ethics? Business ethics can be defined as examining issues from a moral point of view in a professional setting. It concerns questions such as the limits a manager can reach for profit, or the social responsibility of corporations. Business ethics emerged in the 70's, but spread around the world until the 90's, as a result of globalization. People became more informed as the access to information spread, thus becoming more aware of the issues, and demanding a more ethical behavior from corporations. Different cultures have different views on what is right and what is wrong. ...read more.

Middle

The market is who decides the set of values and guiding principles which must be followed. Clients are encouraged by this behavior, which leads to a win-win situation. It might not be for the right reasons, but at the end it can have a positive impact of people's lives. Otherwise, a business can end up with a bad reputation, alienating employees, suppliers, and even the community. As a result, a business can be ruined by not following the norms that society imposes. A good example of a company damaged by bad reputation is Phillip Morris, which was heavily criticized due to it's advertisement of cigarettes. ...read more.

Conclusion

This proves how the company tries to alter the law to make smoking more acceptable, rather than compromising with the consensus of society. In Conclusion, it is safe to say that more businesses are ethical, and we should not condemn all corporations by the action of a few. A more important issue is the different interpretations of what is right and wrong due to cultural, societal, and personal standards. There is no way a business can please everyone. However, there is no intrinsic reason why a business should operate ethically. At the end it's the invisible hand that should decide how ethical a corporation is; and which corporation will succeed due to this. At the end of the day, a business is just as ethical as the people behind it, and corporations are not moral agents; nor should they be expected to be. ...read more.

The above preview is unformatted text

This student written piece of work is one of many that can be found in our International Baccalaureate Business Studies section.

Found what you're looking for?

  • Start learning 29% faster today
  • 150,000+ documents available
  • Just £6.99 a month

Not the one? Search for your essay title...
  • Join over 1.2 million students every month
  • Accelerate your learning by 29%
  • Unlimited access from just £6.99 per month

See related essaysSee related essays

Related International Baccalaureate Business Studies essays

  1. Advance Professional Development

    selected in task 3 * Examples of CPD * And the contribution of CPD in skills development What is skills development method Skills development methods and techniques are the activities or actions taken by an individual or an organisation to explore the hidden potential of their employees and make their

  2. This essay discusses that the importance of ethical principles by applied globally by multinational ...

    It can be seen from their manufacturing process and workers rights. Levi Strauss & Co is the first company in their industry to establish global guidelines for water quality standards for their suppliers. In order to protect water resources by water reclamation, water efficiency and reuse.

  1. This paper will concentrate on Apples Apple TV business, and its complementing iTunes business.

    and other video directly to their customer's living room on an on-demand basis. Piracy is a big issue for content creators, and the iTunes and Apple TV model gives them the revenue they rightly deserve. Since the content is completely digital, the content creators have the added value of generating

  2. starting a small business

    In M1 I have to analyze my data and present it using graphs and then I have to explain and give a good reason for the methods that I have used to identify my target market for the projected business.

  1. Finance and business questions and answers.

    This in turn will lead to a bubble burst causing a financial meltdown that usually leaks to other related industries In regards to the Asian Financial Crisis - With reference to Displacement, Asia was experiencing an unprecedented economic growth; which was caused by a large increase of exports in basic

  2. New business plan

    and feels from the time he or she leaves home until the time he or she returns. It includes the journey to and from the destination, accommodation and travel while at the destination, and everything purchased including food and beverage, souvenirs, and amusement and entertainment.

  1. Orgnizationl, Theory, Change & Culture

    Our Family of Companies comprises: * The world's premier consumer health company * The world's largest and most diverse medical devices and diagnostics company * The world's fourth-largest biologics company * And the world's seventh-largest pharmaceuticals company We have more than 250 operating companies in 57 countries employing 115,500 people.

  2. The Business Environment of Coca Cola

    Consumer is a king, because he has got various choices around him. ________________ TASK 2 2.1 ? TYPES OF ECONOMIC SYSTEM Economic system is the system of production, distribution and consumption of goods and services of economy. The economic system is composed of people and institutions, including their relationships to productive resources.

  • Over 160,000 pieces
    of student written work
  • Annotated by
    experienced teachers
  • Ideas and feedback to
    improve your own work