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Business ethics - Dissertation Example

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The relationship between business ethics and the law has in the recent past become a controversial issue necessitating the need for further research in this area.This is since empirical evidence illustrate that when businesses aim at garnering a competitive edge,they are predisposed to performing practices that are contrary to the business ethics…
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Download file to see previous pages The relationship between business ethics and the law has in the recent past become a controversial issue necessitating the need for further research in this area.This is since empirical evidence illustrate that when businesses aim at garnering a competitive edge,they are predisposed to performing practices that are contrary to the business ethics. Is it therefore viable to believe that businesses that have been able to maintain a competitive edge act unethically? Consequently, can businesses that have upheld their ethics be referred to as being anti-competitive? It is in the wake of these research questions that this essay will illustrate the influence that business ethics has on the performance of an organization and the relationship between business ethics and law1. Research Questions: 1. Is there any relationship between business ethics and the law? 2. Does competition influence the business ethics of an organization and how is this related to law? 3. Is social responsibility related to the business ethics of an organization and the law? 4. What is the way forward to enhancing the synergy between business ethics and law? Prior to answering the research questions delineated above, it is important to understand what ethic means and why business ethics is important in law. Ethics is a moral principle that determines the conduct of behavior of various professionals as pertains to how they conduct their business and in the decisions they make. As pertains to the utilitarian theory of justice, professionals need to make decisions that are aimed at meeting the greater good of the society and not out of their inner selfish motive. This therefore means that there is need for businesses to uphold their ethics as pertains to how they conduct business. Business being aimed at prevailing above the competitors and making profit, there is need for business men to adhere to ethical principles but still remain competitive. How then is business ethic related to law?2 The law is a combination of rules and regulations that govern a group of people and violation of the law leads to criminal offence. The law is made from sanctions and principles that have been developed by people and more often than not, the law depicts the public opinion of people as pertains to various issues. With reference to business ethics, the law is sought when a business acts in an unethical manner that harms another organization or harms the general public of the organization. The law acts as leverage in disputes resulting from claims that one business did not act ethically and violated the moral principle required in business. Having understood what business ethics entails and the relationship it has with the law, it is important to evaluate how business ethics can be violated as businesses conduct their business and the implications of these violations with reference to the law.3 Models of public policy have been developed in an attempt to illustrate business ethics and what it encompasses: moral manager and the moral market. With reference to the moral manager model, it is upon the managers to engage in morally upright decisions as pertains to the decisions they make and the influence of these decisions to the performance of the organization. This therefore means that the goal of business ethics entails training managers so as to develop morally upright behaviors that re translated to decisions made and the influence they have on the performance of the organization. An organization therefore needs to institutionalize a design that monitors the performance of individuals involved in the business. Moreover, markets also serve as a concern as pertains to business ethics and the law. The forces prevalent in the market influence the performance ethics of individuals in an attempt to counter these forces or to adapt the organization to these forces.4 As businesses attempt to advance in comparison to their competitors, more often than n ...Download file to see next pagesRead More
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