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Reflective Journal M02 - Essay Example

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When people think of the hard side of business, it usually includes the idea that somebody is earning money at the expense of another person, or getting the best of another person by fast talk and shady deals. A person who feels cheated or taken advantage of are often left with…
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Reflective Journal M02

Download file to see previous pages... Entrepreneurs and investors embark on business ventures because they wish to make money, and a business that does not make money on a regular basis deserves to be terminated. All the tools and techniques for decision making that are taught in the MBA or any other business management course will always have the profit maximizing criterion as a major consideration.
At least, that is the common perception, and one that I had entertained prior to my studies about business ethics and corporate social responsibility. In my readings, I was struck by the observation of Pride, Hughes and Kapoor (2009), that the profit maximization goal is impossible to define, and therefore impossible to achieve, because there is never a satisfactory answer to the question, ‘How much profit is enough?’ Exactly, businessmen are depicted as greedy and heartless, loving money for money’s sake, and much like Charles Dickens’ Ebenezer Scrooge, the profit a business accumulates never appears to be enough. Such a goal is thus never attainable, and therefore the profit maximizing aim is a senseless one for business, as there is no maximum. After all, a goal that could not be defined could not be attained, and success becomes elusive and illusory.
What I have learned about ethical decision making is that it is the core of ethical business, the thing that makes business a noble undertaking that seeks to provide for the needs of people. It has the humane goal of satisfying people, of bringing goods and services to match human wants and needs. Business creates value, and offers this value up for human consumption, and the resulting profit is but a just reward commensurate to the value that was created.
Ethical decision making is what guides a businessman to do the right thing at the right time, and because of this his business becomes a tool to making peoples’ lives better. I believe that this is the social responsibility of ...Download file to see next pagesRead More
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