The Role Of Ethics In The Business

Role of Ethics in Business Name: Institution: Course Code: Ethics refers to sound and fair business practices and conduct used by an organization to steer itself and its employees in their business activities, both internal and in relation to the outside world. Ethics is what provides the framework upon which business organizations work in a manner that ensures a level playing field. It helps eliminate vices or unwanted practices that would otherwise shortchange one or more entities over the others. There are various articles written to this end, about business ethics and what role they play in the bigger business picture. Various authors have tried dissecting the topic, so as to bring out a clearer perspective over the same. A 2012 article titled Business Ethics, Culture and Performance by Carter McNamara is one such article that tries to elucidate the role and importance of business ethics. According to the article, fair business practices and conduct comes from learning between what is wrong and right and then doing the right thing. The ability to opt to do the right thing over the wrong one is an indicator of ethical responsibility. It indicates that one is able to weight between the two options and goes for what is good for both the person and others too. The right thing is usually based on moral foundation of the person or organization(Spooner,n.d.). In turn, the moral foundation is a product of continuous training, learning, addition and subtraction that one experiences from his or her own environment while growing up. The goal of this article is to explain the role of ethics in the workplace, its contribution to contemporary ethical thinking and application of ethical information to area of practice. The article provides a basic framework of understanding the foundations of business ethics. The author starts by delving into the definition and understanding of morals and ethics. These two are the building blocks of business ethics. Having good morals directly relates to practicing and embracing business ethics or ethical business conduct(Spooner,n.d.). The opposite is true also. Business ethics is capable of covering all the aspects of business activity. In fact, it covers all facets of the same. While it might be taken as a rather light and sometimes ignored body, business ethics usually helps organizations and corporations to stay clear of scandals and endless legal suits. Its fundamental importance is like to be at a lesser risk of being fined for poor behavior, and less likely to find themselves in breach of one or more of a large num...