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Business Ethics

"What is ethics?" Simply put, ethics involves learning what is right or wrong, and then doing the right thing, but "the right thing" is not nearly as straightforward as it seems to be.

"Ethics is the careful study of standards of behavior that apply to real-world problems and decisions. It gives us insights into what we should do."

The minute we put the word ‘should’ in a sentence, we are probably talking about ethics. Colleges should (or should not) take race into account in admissions. Health care coverage should (or should not) be a substantial part of the state budget. Although ethics deals with right and wrong, it is not a discipline that always leads everyone to the same conclusions. It is not the captive of liberals or conservatives.

Of course, there are situations that are wrong by any standard. The recently reported advise given by former Enron Chairman Kenneth Lay to the investors to hold on their investments in the company while he himself kept selling the shares of the company is a case in point. But there are other issues where right and wrong is less clear. To guide our reflection on such difficult questions, philosophers, religious teachers and other thinkers have shaped various approaches to ethical dec


Obviously, Sally had a problem - an ethical problem. Should she hire Mary (whom she'd already given her word) or Julie (who was obviously the best person for the job)? Questions like these touch on our deepest values. Depending on whom you would ask, you would get strong arguments for both decisions. This is what we mean when we talk about "gray area". So what is the answer?

However, the field of business ethics has traditionally been the domain of philosophers, academics and social critics. Consequently, much of today's literature about business ethics is not geared toward the practical needs of leaders and managers -- the people primarily responsible for managing ethics in the workplace. The most frequent forms of business ethics literature today typically include: a) philosophical, which requires extensive orientation and analysis; b) anthologies, which require much time, review and integration; c) case studies, which require numerous cases, and much time and analyses to synthesize; and d) focus on social responsibility, which includes many examples of good and bad actions taken by companies. This lack of practical information is not the fault of philosophers, academic or social critics. The problem is the outcome of insufficient involvement of leaders and managers in discussion and literature about business ethics. More leaders and managers must become involved.

And yet she only had the resources to hire one person at this point. Clearly, the best business decision was to hire Julie. But what about the ethical decision? If her business did poorly or Mary couldn't provide enough support, the business would suffer. As a result, her family would suffer. Money was already tight, what with two boys in college. And yet she knew Mary also had a family she was supporting. Plus, she had been so enthusiastic about starting to work.

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Approximate Word count = 1486
Approximate Pages = 6 (250 words per page double spaced)


  

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