Philosophical ethics describes the study of ethics through the lens of a theoretical perspective. This approach focuses on using ethical actions or morally right action that will promote the good value among a society. Explain the utilitarian, individualism, moral rights, justice, virtue ethics, and practical approaches for making ethical decisions. Therefore, is consistent with Kholbergsâ stadium of universal principles. Ethics deals with moral principles and values. So good business ethics should be practice by all businessman because can leading successful in business. Healthy competition will exist in business when the businessman implements business ethics while dealing with competitor. There are some importance of business ethics which is: When business ethics is put in the practice, it will stop the business practices. Justice, for many people, refers to fairness. ethical models, such as moral rights, social justice (Waddell, Jones and George 2011, 148) and utilitarianism (Duska 2007, 22-25). This one is all about balance, and this approach tries to produce the greatest good with the least amount of harm to those involved. It also has been defined as inquiry into the nature of morality where the term morality is taken to mean moral judgement, standards and rules of conduct. It also known as corporate ethics which means the ethical practices and policies that used in business. The members of a community, Raâ¦ According to Patil (2012), business ethics is a behavior that all businesses stick to. The individual itself must file a charge of discrimination under the discrimination act when there is discrimination happen in the organization or in business trade. Ethical will build the trust among individuals and business relationships. Ethics of care is also a basis for care-focused feminist theorizing on maternal ethics. If a businessman follows all regulations of ethics, then the user acceptance is good. In hiring the employee in the organization, the top management must follow the recruitment and selection processes which are by interviewing, reviewing jobs application and work history, candidateâs skills and many more. Reactions and Reflections to Cyndi Banks' 'Criminal Justice Ethics: Theory and Practice' By doing this paper, it will get more understanding on business ethics. Ethics in business can be defined as behaviour, moral principles or value that applied in the world of commerce. The Fairness or Justice Approach â¢ Ethical actions should treat all human beings equally, or if unequally, then fairly based on some standard that is defensible. This model is published by the American Counseling Association, and it is particularly useful for professional counselors working in agencies, private practice, and â¦ The will safe when doing business or buy the product with those companies that follows business ethics. Nicosia 1065 Following ethical dilemmas and ethical lapses in business practices that became eminent in the 1970s, the concept of business ethics emerged to expound business ethical principles (Arnold et al., 2010). Its subject consists of fundamental issues of practical decision making, and its major concerns include the nature of ultimate value and the standards by which human actions can be morally evaluated. No discussion of ethics would be complete without acknowledging that counselors face confusing descriptions of various types of ethics. [â¦] The main goal of this evaluation is to provide to the biggest number possible of individuals a better well-being. The restorative justice model views crime as producing harm, which must be repaired. It will create good images to society when implementing good business ethics. People can accept the goods from business and will not criticized it besides support the business that conducted by those businessman. Corporate governance encourages companies and those who own and manage them to achieve their corporate objectives through a more efficient use of resources. For example is fundamental issues in business is facing with integrity and trust. These principles is to replace the current values if they do not bring the good or best development of humanity. Management and employees must conduct business in a manner by creating an flexible institutional framework that complies with the standards and principles of a particular business. Â«EthosÂ» is a Greek word meaning "character" that is used to describe the... upheld. Besides that, in the company itself must have a discrimination policies and rules to avoid the discrimination among the staff or discrimination to customer. Î¸Î¹ÎºÏÏÂ» "ethical" (check it in Google translator). When some of society's members come to feel that they are subject to unequal treatment, the foundations have been laid for social unrest, disturbances, and strife. Nonetheless, despite the formal identity of these terms from the very beginning you can see some - very significant - difference in content and method of use. Ethics and Justice According to Aristotle, ethics, in simple terms, is defined as âthe good.â As previously mentioned, virtue theory will be discussed in detail in a. Ethics in business context involves the behaviour in business transaction. For example, the employee who get awards must the good performance and e the est among the employess in the companies. Business can utilize utilatarian approach to ensuring outcome of various situations to help the maximum amount of stakeholders in the company. Business ethics concepts are concerned with three different kinds of moral issues. But while justice is important to almost everyone, it means different things to different groups. Mill's Utilitarianism Model in Business Ethics Natural Rights: Definition, Theory & Examples ... Distributive justice is a concept that addresses the ownership of goods in a society. Business ethics is a process for integrating values such as honesty, fairness, transparency and trust into its policies, decision making, and practices. Built a good relationship between board directors and executive managers. Justice, in its broadest sense, is the principle that people receive that which they deserve, with the interpretation of what then constitutes "deserving" being impacted upon by numerous fields, with many differing viewpoints and perspectives, including the concepts of moral correctness based on ethics, rationality, law, religion, equity and fairness. In business ethics, it is required to protect the interest of employees, shareholders, dealers, suppliers and many more from exploitation through unfair trade practices. According to http://www.saylor.org in the article that entitled business ethics and social, act ethically in business means more than just compliance with laws and regulation. The entire employee must follow the rules that are provided in the company and know the business ethics. As the ethicist John Rawls has pointed out, the stability of a societyor any group, for that matterdepends upon the extent to which the members of that society feel that they are being treated justly. The customers will have confidence and have a trust in doing business that follows ethics rules. The acceptability of business ethics can be determined by customer, government regulators, competitors, interest group and many more. It is quiet hard to distinguish whether candidates business ethics are consistent with the company before hiring them. It is the principle that applicable in conducting the business application. The aim of this paper is to get more understanding on business ethics in todays world. Corporate ethics will give a guidelines to a company to measure what is the right and what is the wrong. Some concepts are related to issues involving the conduct of business within the systems where business operates, including economic, political, legal and other social systems. The virtue approach is it difficult for businesses to implement because it is normative. This will cause a regular supply of good quality items and services at lower prices to the community. Utilitarian Moral Rights And Justice Models Of Ethics. I also do an observation about business ethics that implement in the trade around me and from that i can evaluate the good business ethics and also bad business ethics. Business ethics are essential as they keep business persons to operate in a moral pedestal and laws that not only give their the internal satisfaction yet increase sales because many people like to deal with an honest business. In todayâs environment, ethics is about the behaviour in humans which is good or bad. For example they have cheated the customer at once, but the customer can remember and they will not buy the goods again from that businessman besides tell to their friends about that cheating. Business ethics is very crucial in the business trade in order to manage the business and also the succesfull of the business. Not all businessmen involve with business practices but there are some immoral businessman doing business malpractices. Follows the standards and principles of the company. Business ethics are very important in increasing customer confidence about the quality of product , quantity of products, price of products, and other products that offered by company or organization. Also known as corporate ethics. Usually the company who apply the business ethics will success and will get trust from the customer, stakeholders, interest group, goverment regulator because they are confident with company that implement a good ethics in trade or in business. The business ethics is very crucial for survival of the business itself. Businessman must protect or respects to the consumers right. I used to refer the article to get more understanding on the topic and with that understanding i can wrote this term paper. Flat M2 Business ethics involves the application of moral standards to the systems and organizations through which provide good services to customer and organizations. From that, it is important to follow the business ethics in appropriate ways. An examination of any textbook on ethics would lead the reader through a general discussion of some combination of philosophical, principle, professional, aspirational, mandatory, and virtue ethics. The utilitarian approach holds that moral behaviors produce the greatest good for the greatest number. There may be ethical issues related to original founders of the company even before the business reaches a point where the principal fields of business plan to potential investors. Other concepts are concerned with corporate issues which is involving questions related to the conduct of a particular company. 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