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d of addition; that is why companies should make sure that their consumers understand that they might end up being addicted to the product (Orleans, 1993, 81). Fourthly, smoking may surely become a whole in a budget, so companies who promote this product should warn about possible financial consequences when a person will have to spend a certain sum of money each month to harm one’s organism (Sloan, 2004, 51). Finally, the reality of smoking is not as glamorous or exciting as it is being portrayed. So, tobacco companies should not deceive people by providing them with different pictures that do not reflect the reality at all (Wallander, 1995, 143).
Сapitalism often relies on shared ownership which means that a considerable number of people might hold shared and by combining their voice they might shape decision making process in a way they want (Kruse, 2010, 41). In addition to that, capitalism often points out that making ethical decisions may be quite beneficial in long term perspective, especially when company accepts its social responsibility and tries to maintain sustainable production (Young, 2003, 194). What is more important is that capitalism puts great emphasis on the notion of free market, which urges companies to make sure that their decisions will ensure their competitive advantage over competitors (Buchholz, 2012, 28). As for the connection between capitalism and tobacco, I think that the former might view the latter as a popular commodity which is likely to bring a considerable amount of profits, regardless of the harm that it will do with regard to the person who consumes or addicted to it, and encourage people to buy it.
Keeping in mind the above mentioned, one is able to argue that it is quite possible to combine the interests of a company with personal interest. Thus, on the one hand, any organization wants to be successful, so profit might be recognized as one of the primary goals of it (Jayachandran, 2004, 71). Nevertheless, a company is
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According to the task, these ethics can be explained in many different theories of ethics that include virtue ethics, rationality, utilitarianism, communitarianism, social ethics and normative ethics. Hence, international business ethics and corporate governance can be explained in various ways (Casson 95).
Business ethics are rules as well as standards which an organization is required to follow while performing its activities or operations. It mainly consists of moral standards which vary among organizations and it also helps in determining the right and the wrong decisions.
For example, according to the limited knowledge of the researcher, Magna Carta of 1215 was the first legal reference for ethics in UK (Holme, 2008). However, magnitude of importance for ethical perspective of business operation has been increased manifold in recent years after the financial scams by corporate such as Enron, Lehman Brothers, Worldcom, Nortel and many others came to the light.
Business ethics theories are often adopted by organisations seeking to curb practices that are deemed as corrupt. They usually have moral principles that organisations can implement to make sure that all the workers operating in the company conform to accepted codes of behaviour
Examples of ethical issues concerning three different issues have been explained along with their alleged law suits that have flagged these issues in the United States.
Business ethics are the moral eternal, abstract, and the
To some, the suggestion that an orderly and analytical process of decision making, not only on a personal level – but more so in business, should include the discussion of highly controversial ethical issues, about which
The other group of business people takes it as avoiding activities that portray bad image of the company. If the above are not considered as business ethics the business institutions may suffer loss or may earn the business bad reputation.Business people believe that if good business ethics are adhered to then the business will experience an upward trend with a lot of profit.
A similarity between ethics in the United States and ethics in Asia is that they address a variety of similar factors such as pollution, corruption, fraud and contracts among others. Although approaches to dealing with
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