Business Ethics And Surrounding Theories Philosophy Essay

Business Ethics And Surrounding Theories Philosophy Essay Business ethics for quite some time now has been a global issue as the case maybe in business deliveries. Business ethics may be defined as way managers take decision that will make their business reputation to be morally sound in business transaction. It entails that transparency is involve in decision making, ethical issue in business delivery is very vital to protect the image of the company (Boatright 2007). Business ethics help’s manager’s to take the right decision in business transaction in other to keep their business moving at a rapid growth in the economy (Nash 1990) Ethics can also be defined as the study of how morality are involve in human decision to build their business reputation (Borland 1999).Ethical solution to business transaction has a lot possible solution to make business to deliver it objectives. The term ethics also has another, quite different use as the case may be which is to denote the field of moral philosophy. Every manager has a way to s how transparency and accountability to the business approach, in other to make the right decision in business. ETHICAL THEORIES Teleological frameworks: these are the conduct of an individual or the outcome of an individual action.(mill, 1864).Ethical egoism entails that the decision that individual take will be in mutual interest of the organisation and balance it to be mutual beneficial in business transaction. Ego is derived from a Latin word meaning self, ethical egoism allows for self-interests to play a role in the actions of the individual as long as there are also positive benefits for others. The level of rationalization may evolve into the justification that pursuing a person self- interest is necessary to generate a positive outcome for others.(Beauchamp and Bowie 1997). Deontological frameworks: This aspect focuses whether the action is right or wrong on ethical issues. The duty of the person taking such decision is highly considered as the case may be in ethics. Ethical theories; these theories involves the way or approach which are linked with philosophical empiricism and utilitarianism.(George 1999). The act of utilitarianism deals with the decision that one will take which will make him feel relax in business transaction and the outcome of the business will be positive depending on the application. The rule utilitarian states that the decision the manager’s will result in potential rules of action. (Graham 1990). Business reputation in the context of business to business, deals with a way manager relate with other vital issue which will protect the image of the company. If adherence to the rule produces more positive result than otherwise, it is a rule that morally will be highly considered. The distinction between act and rule utilitarianism is based on the outcome should be highly considered in calculating the effect on business related issues. UTILITARIANISM: According to utilitarianism, our obligation or duty in any situation is to p erform the action that will result in the possible balance of good over evil. ln classical utilitarianism, pleasure is taken to be more beneficial to compare with pain and harms which are evil.