Ethics of John Deer and Caterpillar

Ethics of John Deer and Caterpillar
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Institution
Introduction
Ethics refers to the science of rules and morals of behavior (Byers, 2002). In other words, ethics can be considered as the moral principles that govern behavior of an individual or in a group. Ethics play a vital role in that it guides people on how to behave while interacting with others. Business ethics in particular refers to the principles and standards that determine which conducts in business organizations are generally acceptable. The acceptability of a particular behavior is determined by government regulators, customers, competitors, the public, interested group, and also the very significant person’s individual moral principles and values (Byers, 2002). Caterpillar Inc. and John Decree Company are companies that are held highly in the public eyes because of how they relate with their employees and the community at large. The two companies have been considered as socially responsible because they keep public interest above their business operations while pursuing profitability. This paper is aimed at discussing the ethics for both Caterpillar Inc. and John Deer Ethics.
Business Ethics
Business ethics is defined as a form of applied ethics that assess ethical principles and morality issues that arise within business environment. Business ethics applies to all aspects of business conduct and is relevant when it comes to the conduct of every individual as well as business organization. Every organization is governed by specific set of business ethics which consist of various moral principles and values that govern the behavior of every organization with regard to what is deemed right or wrong. Business ethics spells out the major philosophy and priorities of a particular organization in actual terms. In addition, business ethics provides a framework on which an organization is legally governed because it contains the valued and prohibitory actions within the work place. Business ethics of a particular company can be diverse and they apply to not only how an organization interacts with the world in general but also on one –to –one interaction with an individual customer.
Every business organization should uphold good business ethics. However, many organizations do not think too highly of business ethics but instead are more concerned with how to profits. Failure to uphold business ethics leads to legal action being taken against the organizations for breaking ethical rules. Heavy fines have been imposed on organizations that break such rules as well as anti-trust and environmental laws.
General Business Ethics
This refers to the part of business ethics that overlaps with business philosophy and is aimed at determining the elementary purpose of an organization. These ethics are founded on the corporate social responsibility (CSR) which serves as an umbrella term under which ethical duties and rights that exist between organizations and companies are formed.
Ethics of Finance
In essence, finance is a discipline of social science that is closely related to sociology which is a behavioral science. It is also related with economics, management as well as accounting. The field of finance is concerned with technical ...