Business Ethics reflect on the fundamental principles that form a particular company. Under such conditions the individuals involved have two choices either to follow the ethical ways of the organization or “blowing the whistle” on organization. Friedman M. (1970), The social responsibility of business is to increase its profits, The New York Times Magazine.
Business Ethics and Staff Morale. At the same time, however, you should also try to come up with an innovative marketing strategy that will work for your purpose. If your company is new, unstable, about to be sold, or going out of business, ethics requires that you let clients and customers know this.
Instead of grappling with this complexity, however, many business ethicists have tied themselves in knots over the notion that a managerial act cannot be ethical unless it in no way serves the manager’s self-interest. Ethics is related to all disciplines of management like accounting information, human resource management, sales and marketing, production, intellectual property knowledge and skill, international business and economic system.
Even when business ethicists try to be practical, however, much of what they recommend is not particularly useful to managers. Tata group of companies is one company which follows ethical practises. According to elkington the business does not have one single goal of attaining profit but to extend the goal set by adding environmental and social values.
McMahon C. (2010), The public authority of the managers of private corporations, in Brenkert G.G. and Beauchamp T.L. (dir.), The Oxford handbook of business ethics, Oxford University Press. First, they disagree that ethical behavior is always in a company’s best interest, however enlightened.