Chapter1 160416185435
Chapter1 160416185435
Chapter1 160416185435
Chapter 1
EHTICS
Ethics comes from the Greek word “ethos” meaning character or customs
According to “The American ethos” or “The Business ethos” we use the word ethos to refer to the
distinguish disposition, character, altitude of specific people, culture or group
According to Solomon, the etymology of ethics suggests its basic concerns
Individual character, including what it means to be “a good person”
The social rules that governs and limit our conduct
Difference between Ethics and Morality
Morality refers to human conduct and values while ethics refers to study of those areas
EHTICS
Peoples sometimes confused legality and morality, but they are different things. On one hand, breaking law
is not always or necessarily immoral. On the other hand, the legality of an action does not guarantee that it
is morally right.
An action can be illegal but morally right e.g. Helping a Jewish family to hide from the Nazis was against German
Law 1939, but it would have been a morally admirable thing to have done
An action that is legal can be morally wrong e.g. It may have been perfectly legal for the chairman of a profitable
company to layoff 125 workers and use three- quarters of the money saved to boost his pay and that of the
company’s other top manager, but morality of his doing is so open to debate
MORAL VS NON-MORAL STANDARDS
Professional Codes:
Somewhere between etiquettes and law lies professional codes of ethics. These are the rules that
are supposed to govern the conduct of members of a given profession. Generally speaking, the
members of a profession are understood to have agreed to abide by those rules as a condition of
their engaging in that profession.
MORAL VS NON-MORAL STANDARDS
Ethical Relativism is the theory that holds that morality is relative to the norms of one's culture. That is,
whether an action is right or wrong depends on the moral norms of the society in which it is practiced. The
same action may be morally right in one society but be morally wrong in another
Relativism and the “Game” of Business
Albert Carr in a essay “Is Business Bluffing Ethical” argues that a business, as practiced by individuals as
well as corporations, has the impersonal character of a game – a game that demands both special strategy
and an understanding of its special ethical standards. Business has its own norms and rules that differs from
those of the rest of society. Thus according to Carr, a number of things that we normally think of as wrong are
really permissible in a business context e.g. conscious misstatement and concealment of pertinent facts in
negotiations, lying about one’s age on a resume, deceptive packaging, automobile companies’ neglect of car
safety and utility companies’ manipulation of regulators and over changing of electricity users.
HAVING MORAL PRINCIPLES
Conscience:
The inner sense of what is right or wrong in one's conduct or motives,
impelling one toward right action:
the complex of ethical and moral principles that controls or inhibits the
actions or thoughts of an individual