Business Ethics Introduction

I expect this is because ethics is based on reason: the factors that were taken into consideration in making a decision can be said to have influenced that decision, and any factor that was not taken into consideration had no impact on the decision, though they may have had an impact on the consequences. In effect, the person who exerts influence is attempting to make the decision, and therefore bears responsibility for the outcome of a decision that results from the influence they exerted. The kind of moral responsibility we are discussing here should not be confused with a second but distinct form of moral responsibility. He received his Ph.D. from Washington State University, holds an MBA from California State University-Chico and a BSc (Honors) in Management Studies from the University of Mauritius.

The second part of the module will address the issues, impacts of business on individual stakeholder groups and analyse business ethics and social responsibility in relation to each group. Hanson speaks widely, writes on managing the ethical and public behavior of corporations and is frequently quoted in the press on business ethics issues. Clearly business ethics is a specialized study of moral right and wrong in doing a business.

They give as examples of this type of governance arrangement multi-stakeholder initiatives (MSIs) that bring together firms, non-governmental organizations, and members of local communities to deliberate and decide on policy matters, such as the Forest Stewardship Council (FSC), the Roundtable on Sustainable Palm Oil (RSPO), and the Extractive Industries Transparency Initiative (EITI).

According to him, bluffing in negotiations is permissible because business has its own special set of rules and bluffing is permissible according to these rules. The first part will address the concept of business ethics, a discussion of citizenship theory and the challenges of globalisation and sustainability. And one of the key mechanisms used in the modern business world to generate trust is brand.

It was suggested that, when considering the ethics of consequences , that there is limited value in considering the consequences of past actions, except as a method of deriving guidance, from experience, for making decisions that will have consequences in the future. Elements of moral Responsibility are individual must cause or fail to prevent an avoidable injury or wrong, individual must know what he is doing, individual must act of his own free will.