There are all kinds of companies out there that claim to have the best-trained individuals on the planet, like those individuals with their Masters Degree, or those with business ethics 101. Business ethics should be distinguished from the philosophy of business, the branch of philosophy that deals with the philosophical, political, and ethical underpinnings of business and economics. Any organization big or small should follow ethical practices as it brings in a sense of social responsibility which eventually provides sustainability to the organization.
The new business ethics acknowledges and accepts the messy world of mixed motives and moral conflicts. A destructive result with negative consequence to other or organizations can be brought about through negative and unethical core values in operational policy.
Post-structural and post-foundational currents in business ethics: Post-structural and post-foundational theories, which are often, if falsely, accused of moral relativism (â€˜anything goes’), ask what business ethics becomes if one abandons the notion of a final (transcendental) ground upon which businesses’ moral course of action can be based.
The unique position that the small business owner is in regarding the formation of an ethics policy yields a great responsibility. At this time, POSCO has amended the code of ethics with tighter ethical standards according to the intent of management innovation that places the highest value on ethics in management.
Your profits will increase because you have a business that is fair to work for, ran smoothly, with effective management, and happy staff, combine that with happy customers and you have the formula for a healthy business with healthy profits. Business managers are charged with the smooth running of a company and see to it that there is an increase in profit.