Reflective Journal for Business Ethics - Essay Example

Reflective Journal for Business Ethics Name: Student Number: Course Code: Word Count: Date of Submission: Reflection I comprehend the essence of theories like the Corporate Social Responsibility Theory that are important in highlighting the obligations and virtues of entities and the ethics to the business environment (Alzola, 2008). From this, I understand that corporations have the obligation of compensating for human deprivations (Carroll & Buchholtz, 2009). In business ethics, as I now identify with, CSR and Stakeholders Theory is just but a contingency model developed in the sense that views and expectations of the society are erratic and continuously changes and evolves (Banerjee, 2008). I have come to understand that business ethics and morals can differ across cultures, societies and countries although common norms, values and morals are essential for a healthy relationship between a business entity and the society that it impacts. I see that CSR practiced as an ethic to include every aspect of societal needs apart from legal obligations only, gives the organization a clearer picture of business ethics in the business arena. Business ethics are a commitment of the business to morally contribute to a sustainable economic development of the society (Carroll, 2004). Pohl and Tolhurst (2010) write that corporate social responsibility has been practiced in one form or another over a long period of time. My observation is that poor practice of business ethics in relation to CSR draws from the unclear definition of the latter for common use. I think that companies must take note of the continuous improvements of CSR, and that it should be tailored to the immediate needs of the community. Currently business morality is unclearly defined to guide through the complex dilemmas (Sorell, 2002; Crane & Matten, 2007). I believe that business entities end up practicing corporate social responsibility as a formality but not as morality or responsibility. I suppose globalization greatly impacts the mental behaviors of business shareholders relative to their perception of the business environment. As Parker and Pearson (2005) propose, the stability of an economy is defined by the equilibrium existence of all the sectors. With this I concur that capitalism is one of the most effective policies of economic development, as long as it is controlled and regulated by a neutral authority. I also find out that most locals lack knowledge on issues like sea ownership. According to Howell (2010) this is best approached by looking at environmental depletion. I agree because human business activities must change ethically because they magnify catastrophes. The Classical Theory of Management addresses ethics and is a school of management thought in which focus is in how to find the best possible way for organizations to perform social responsibilities relative to the environment. Business operators have to consider that various ethical issues in terms of their intentions which must impact the environment positively or limitedly negatively (Grimond, 2009). Graduate Capabilities With my improved comprehension of ethical theories, business morals and virtues, I am able to establish facts, logical conclusions and morally equitable principles. This has enhanced my knowledge of problem solving settings appropriately in career and learning contexts. The most controversial issue noted in the reflection of the journals is sea ownership or any other commonly basic and should-be naturally available resource for that matter. Therefore, the reflection did not only augment my understanding of business ethics but it also awakened sensitivity towards environmental ethics relative to conservation. I find out that it all lies in the ethical theories and principles of morality that hold that human activities in any sector are either consequential or not depending on the degree of the resultant effect of the action. This proves that every action towards the environment, any perception and reaction to business ethics or any quasi behavior relative to the subject will always have an impact. Laying basis on this, I am able to question the justice in sidelined sea ownership and the equitability in it as well. Analysis of the business environment reveals that at this level the world has transformed into a global village as per business operations. Subsequently, the national economies that contribute to the resultant global economy have to take adherence to outlined business ethics more seriously. The general observation and understanding of every entity, and which I professionally concur with, is that water is a natural human right and so all must have access to enough safe clean potable water for use around the world. Business Ethics and EBL Business ethics and principles of morality are a pack of knowledge that should not be limitedly availed to only those that operate within the business environment. This is mainly because the actions and transactions of these entities affect everyone around them. Nevertheless, I found out, on behalf of my group, that this knowledge has been poorly disseminated and so very few people, especially locals, have any idea the compositions of business ethics and principles of morality. Unimaginably, big corporations, companies and other business entities have taken advantage of this, hence contentious issues such as sea ownership. I, therefore, am of the opinion that business ethics is vital for both today and future contemporary managers. I contributed to my group by explaining business ethics is commonly effective across the board from students to professional practitioners by instilling an inquisitive mind that learns by enquiries. It enhances a self developed interest in the subject and so results in a more informed society, which is good for ensuring adherence to business ethics by the corporations. A learning process that heavily relies on enquiries and analysis of situations does not only give the sought knowledge and information but it also gives experience with critical thinking. This is because of the effective yet less vigorous activity of investigation that covers a wide range of aspects related to the business ethics subject. I justify this by the effect I have observed in myself. The tool of enquiry based learning has enabled me to complete this particular task conveniently on time, thus, an evident benefit of learning how to research and investigate subjects effectively. Generally, learning by enquiry, observation and investigation enable everyone across the board to have control over their learning process and have a more informed perception towards the subject of business ethics and moral principles. References Alzola, M. 2008. When urgency matters on non-discretionary corporate social responsibility. Human Systems Management 27, 273–282. DOI 10.3233/HSM-2008-0683 Banerjee, S. B. 2008. Corporate Social Responsibility: The good, the bad and the ugly. Critical Sociology, 34(1), 51-79. Carroll, A. and Buchholtz, A. 2009. Business & Society: Ethics & Stakeholder Management. 7th ed. Belmont, CA: Cengage Learning. Carroll, A. B. 2004. Managing ethically with global stakeholders: A present and future challenge. Academy of Management Executive, 18(2). Crane, A. & Matten, D. 2007. Business Ethics: Managing corporate citizenship and sustainability in the age of globalization. Oxford: Oxford University Press. Grimond, J. 2009. Troubled Waters: A Special Report on the Sea.” Economist., Jan(3), 3-18. Howell, P. 2010. Choosing ethical theories and principles and applying them to the question: ‘should the seas be owned?’ International Journal of Transdisciplinary Research, 5(1), 1-28. Parker. M. & Pearson, G. 2005. Capitalism and its regulation: A dialogue on business and ethics. Journal of Business Ethics, 60, 91–101. Pohl, M. & Tolhurst, N. 2010. The evolution and revolution of corporate social responsibility. Responsible Business: How to Manage a CSR Strategy Successfully. Hoboken: Sorell, T. 2002. Morality and emergency, Proceedings of the Aristotelian Society 103(1), 21–37. Read More