What Are Business Ethics?

Slideshare uses cookies to improve functionality and performance, and to provide you with relevant advertising. Koehn, D. & B. Wilbratte, 2012, A Defense of the Thomistic Concept of the Just Price”, Business Ethics Quarterly, 22(3): 501-526. Alex: Well I think it’s up to the owners of the business to decide how they want to run their business. Members of the community have no obligations to the business, nor does the business have any obligation to them. Starbucks makes conscious efforts to be a responsible company and conduct business in an ethical manner.

There are no easy answers but this brief article will consider the three main schools of general ethics and the particular themes as ethics is commonly debated on a business ethics basis. Absent the national health-care system that I believe we have a moral responsibility to provide, we must at the very least not make it harder for Americans to obtain necessary care. Nigel: And yet Milton Friedman famously said the social responsibility of business is to increase profits”.

Without being perceived as a sign of economic strength, social responsibility has today the form of corporate civic – a way to create stable and profitable business relationship for all parties, a non-aggressive way, less harmful to work around the community, a friendly way of communication with society. The term moral responsibility is sometimes used to mean moral duty” or moral obligation”. Ethics goes beyond the legal requirements for a company and is, therefore, discretionary.

Thus the modern idea of business is against the view of Friedman, the father of Capitalism. To some degree, the same can be said of the initial transaction, but the responsibility to provide information is not as compelling, as there is no previous experience between the parties. His current research interests include the design of corporate ethics programs and incentives for employees to act ethically, and the responsibility of boards for the ethical culture of the organization.

The executive director of the Markkula Center for Applied Ethics at Santa Clara University, Hanson taught business ethics for 23 years in the MBA and Executive Programs of the Stanford Business School, where he is Senior Lecturer Emeritus. Additionally, its focus on AACSB requirements makes it a comprehensive business ethics text for business school courses. Those issues are not only in the local business level but it also includes international business or multinational corporations.