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Unit VII Discussion Board

Unit VII Discussion Board

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Unit VII Discussion Board

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Unit VII Discussion Board

Business Ethics

Business Ethics or Ethics of Business is the code of conduct that a business or organization follows while performing its business operations. In other words, business ethics is the study of proper business policies and practices which are in regard to the potentially controversial issues of the business. The crisis points that are associated with business ethics mainly include corporate governance, inside business trading, corporate social responsibility, organizational practices and their business ethicality, discrimination, data protection, and fiduciary responsibility, etc.

Why Business Ethics Matters?

There is a number of reasons that state that business ethics matters almost hugely. The main reason which clarifies that why business ethics matter can be witnessed almost every day on the news or newspaper when a business, company, or organization is held accountable to questionable behavior while their brand is tarnished (Koehn, 2005). In short, business ethics matters because it enables the business to make steady and responsible decisions and keep a highly ethical business behavior when operating.

The Distinction between Integrity-Based Ethics and Compliance-Based Ethics?

The difference between integrity-based ethics and compliance-based ethics is enough to clear and fine to understand. These differences can be best explained by the examples below.

In the case when you drive on a freeway, you reduce the speed of your motor only at the situation and time when you approach the camera of any radar area to ensure that you may have a complaint and do not receive any fine. The ethics of such cases is known as Compliance Based Ethics. While on the other side, when a region or area has not been monitored by speed camera but the driver follows the speed rules is considered as Integrity based Ethics.

Organizations/businesses use both of the above approaches where compliance-based is accomplished through policies, while integrity-based ethics is ensured as per employee training and development (Geddes, 2017).

References

Geddes, B. H. (2017). Integrity or Compliance Based Ethics: Which Is Better for Today’s Business? Open Journal of Business and Management, 5(03), 420.

Koehn, D. (2005). A Role for Virtue Ethics in the Analysis of Business Practice. Business Ethics Quarterly, (Updated). 533-539.

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