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Business Ethics
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Business Ethics
Introduction
Ethics are a controversial topic in commerce because of the thin line that
organizations have to tread in ensuring they keep up. Organizations often have to consider the
interests of their shareholders, which often result in the consumers, who are a vital
stakeholder in any commercial activity, being left out. Ethics are the ways in which
businesses should behave in the face of moral dilemmas or confusing situations. Drucker
(1981) analysed the question of business ethics as it compared to normal ethics. His findings
indicate that some actions that would not be illegal or unethical for an individual would be
perceived as unethical for a business. The author gives the example of extortion. If an
individual were to pay for an item under the threat of physical harm, then they would not be
considered to have acted unethically. However, if a business were involved in extortion, the
reaction would be different. Drucker (1981) states that business ethics is embedded in an
organization’s social responsibility. He further states the matter to be ‘casuistry’ in that the
actions of a business are bound to have an effect on other people. Therefore, for the business
to conduct itself ethically, it must consider the effect that its actions have on the people
around it. In that sense, business ethics and corporate social responsibility are concepts that
are intricately tied to each other and a business must consider its role in promoting the greater
good of individuals affected by itself. The matter at hand involves the corpor…
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