business ethics

Poushali Ganguly

In business ethics our goal is to do the right thing. Webster’s defines ethics as “the discipline dealing with what is good and bad or right and wrong or with moral duty and obligation.” (Unabridged, 1961.) The word derives from the Greek word meaning “moral,” a Latin word with roots in “mores” or “customs”—in other words the values held by society.business ethics

Andrew Stark is assistant professor in the Faculty of Management at the University of Toronto and research associate at the university’s Centre for Corporate Social Performance and Ethics. Take good care of your employees by incorporating workplace safety management in your organization.

Some management guru stressed that ethical companies have an advantage over their competitors. However, it is imperative that the small business owner not make the same mistake that larger organizations often do; the ethical policies that a business develops must not be in conflict with the organizational goals.business ethics

Second, Nash contends that business ethics should concern itself with designing and developing organizations for managers who, like all human beings, display the normal range of ethical instincts and have a desire to see that these instincts are not compromised at work.” Good Intentions Aside thus zeros in on what Nash calls the acute dilemma”—situations where you do not know what is the right or wrong thing to do”—and the acute rationalization”—situations where you know what is right, but fail to do it” because of competitive or organizational pressures.

Both medicine and management are referred to as sciences.” Business ethicists share with medical ethicists the challenge of having to bridge a gulf between their own preoccupations with morals and the harder, more scientific” nature of the professions they study.business ethics