Business Ethics and Its Fundamentals

Introduction

Every human setting in the world has been under guidance of the universally accepted codes of conduct. These codes of conduct are based upon the human relations upon exchange of ideas and properties that exemplify a business. Before the establishment of many companies and institutions in the world of today, man dwelled on the rule of the customs and traditions. These notions provided guidance and direction in every human undertaking. With the change in technology and the expansion of knowledge, there came a need to have a unified and universally agreed upon laws and regulations. These were aimed at meeting the varied needs of the members of a community (Henn, 2006).

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These laws have then transfigured to every establishment as institutions, companies and organizations. They are now referred to as ethics or specifically ethos. Many of them have been officially documented as part of the laws that regulate the entire country in its Endeavors. Every organization has established its own ethics as regards to its objectives and intentions. It is upon this notion that business ethics came to be.

This research is aimed at establishing the origin, the state and the implications of ethics in the field of business (Cory, 2005). Moreover, it tries to bring out the state of the business if there were no ethics today. It would likely be hard for these businesses to run smoothly as they are doing now.

Literature review

Many scholars have tried to establish the origin, use and repercussions of ethics in the society. Scholars of Santa Clara University explored into the field of business ethics. They said that ethics are the building block to every success and failure that companies encounter. According to Charles Dominick (2005), there are various perspectives that are able to define and describe the nature of the buyer in every marketing strategy. The intentions of the buyers and the sellers at the time of business, mainly describes their behaviors and reveals their inner characters. The techniques and methodologies that people use at the prospect of buying and selling have a true reflection in the field of ethics in business. Furthermore, he says that ethics have a major role of enabling businesses to make profit and not loss. A correct administration and implementation of ethics in every company translates to the kind of success that will be realized by these companies (Carmichael, 1995).

According to the international business ethics institute in the United States of America (1995), various business practices foster global business and promote equitable development of various economies. Moreover, business ethics are well known to promote sustainability of the resources in the world. Many books have thus been published from this institute (Carmichael, 1995).

Research methodologies

Various methods were used to collect record and analyze data in this research paper. Among the methods, are interviews, issuing of questionnaires, surveying of the workers in an institution and involving them in open discussions.

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Discussion of findings

According to the research done, there are a number of definitions that encompass the term business ethics. Business ethics refer to a body of laws and regulations that determine the manner in which businesses carry out their activities in the world. It is the behavior that business organizations adhere to when dealing with the daily plans and strategies of the business (Malachowski, 2001).

Business essentially began during the time when slavery was very widespread. This is one of the businesses that were considered unethical. This means that business ethics have been practical since the start of business in the world. This dates back to 1970s. It emerged mainly because of the serious financial problems that rocked the world due to unethical practices that were happening in the global business. These problems encompassed those of the Enron and the Bhopal. By the end of the covert cold war, business ethics got to the attention of the academicians, business firms and the media. It is since then that the body has grown and extended its services even to other organizations different from business (Crane & Matten, 2007).

Business ethics range from one organization to another. It also varies from the way they are unveiled to different organizations and individuals. These are companies and the individual customers. Research showed that there are various types of business ethics. They are subdivided into two: the general business ethics and the professional ethics (Ferrell. et, al., 2006). The general business ethics are those that deal with the issues of political contributions, corporate governance and corporate social responsibility, among others. The professional business ethics takes the forms of ethics oh human resource management as discriminations in the various societies; ethics of accounting information as managing earnings; production ethics as those governing environmental issues; ethics of sales and marketing as pricing strategies and also ethics of intellectual management as those governing business intelligence (Cowton & Crisp, 1998).

Ethics play various roles in business. They are mainly for the sake of good business all over the world. Many business men expect to get to a level in business that will make them be satisfied, not only due to the gains of the business but also due to a good atmosphere that exist in the world business community. If a company does not adhere to the business ethics, it will mean that it has broken the laws governing business in the world. Thereby, it will be subject to a fine. This results to financial compensations that may ruin the plans and status of the company. Moreover, many business establishments desire maximum security over their businesses. It is very clear that ethics form a basis of security and safety production. For one to be safe, and for people to offer safety and embrace togetherness in any setting, they have to live with respect to the existing laws and regulations (Stoerger, 2002).

Business ethics serve the consumers and producers of business products from exploitation that they may receive from the buyers and the manufactures of these business products. Moreover, business ethics eliminates aspects that ruin young businesses. It does this by regulating the way big businesses operate; yet enabling them to make profits as they are supposed to. Moreover, business ethics ensure good and cordial relationship between the executives and the companies that carry out different businesses all over the world. Good business mainly concerns humble relationships that musty exist between two and more companies. In this sense, they will be able to exchange products, services and ideas. The main implications of business are managed business systems in the world and peaceful coexistence of people that enhance further business (Shaw, 2004).

Conclusion

In conclusion, business ethics has been in existence in the world since the time of slave trade. It is one of the organs in business establishments that make sure that businesses operate at a rate that is not discriminatory to any individual. Moreover, business ethics eradicates unwanted behaviors among the businesspersons and the consumers. Products from the companies have to meet the regulations that will ensure good human use. Ethics therefore play the role of ensuring that the products that are produced by these companies meet the conditions set for human use. It is with the help of the business ethics that the economy of the world has been able to grow from the time it was very low to this time when it can easily be managed (Jones, et, al. 2005).

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References list

Crane, A & Matten, D. (2007). Business ethics: managing communal residency and sustainability in the time of globalization. Oxford: Oxford University Press.

Cowton, C. V. & Crisp, R. (1998). Business ethics: perspectives on the practice of theory. Oxford: Oxford University Press.

Carmichael, S. (1995). Business ethics: the new bottom line. Havard: Demos publishers.

Cory, J. (2005). Business ethics: the ethical insurgency of underground shareholders. New York: Rutledge publishers.

Ferrell, O. C. et, al. (2006). Business ethics: ethical decision making and cases. Chicago: Cengage Learning publishers.

Henn, S. K (20206). Business Ethics: A Case Study Approach. Harvard: John Wiley and Sons.

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Jones, J. et, al. (2005). for business ethics. New York: Rutledge publishers.

Malachowski, A. R. (2001). Business Ethics: Methodological issues. New York: Rout ledge publishers.

Shaw. W. h. (2004). Business ethics. New Delhi: Thomson/Wadsworth.

Stoerger, S. (2002). Business Ethics. New York: Rutledge publishers.

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