BUST10004 Business Ethics

Ethics is part of everyday life. It's in your culture, family, community and society. In a very real way you already do ethics. If you have ever thought about the moral implications of your own or somebody else's actions; this is ethics. For this discussion, address the following questions:

 

1. Why study ethics?

2 .How do we form our set of ethics? Why do ethics vary so much from person to person?

3. Why is it important to understand how ethics vary from culture to culture in a business setting?

Answer

1. The basic purpose behind studying ethics is to apply reputation to the business. Although it takes time, but mouth is an influential force in community, friends and culture that shows how business owners treats them. Ethics provides with moral guidelines and how issues can be sorted at the times of disputes. However, ethics does not provide with right answers, but it helps businesses in framing correct answers (Brusseau, 2012). 

2. As a business owner, developing good culture and ethical practice in workplace shall be the key factor behind forming our set of ethics. The principles laid shall instil in people about moral obligations and expectation that requires to be followed while making business decisions. A moral set of ethics will be based on business principles that gives businesses’ best opportunity for sustaining successfully in competitive market (Brusseau, 2012).

Individuals have different set of ethics as their behaviour varies from each other based on moral conduct of society which they are part of and are anticipated to be coerced by community to conform. Although, ethics differ from person to person, in a mutual society it encourages co-operative behaviour within groups to address issues faced by societies or business workplace (Goel & Ramanathan, 2014).

3. In a business setting, the most commonly accepted professional of one country can be different for colleagues from overseas. To recognise and understand how culture affects in business setting, three major areas of business namely organisational hierarchy, communication and etiquette must be comprehended tactfully to avoid misunderstanding between clients and fellow workers in a business environment. Understanding culture in a business setting is significant for the employer even as employees who does not find comfortable with company norms are more likely to be unhappy and less productive as compared to the others (Goel & Ramanathan, 2014).

References

Brusseau, J. (2012). Business Ethics. Creative Commons.

Goel, M., & Ramanathan, P. E. (2014). Business Ethics and Corporate Social Responsibility – Is there a dividing line? Procedia Econimics and Finance, 11, 49-59.