Business Ethics as an Oxymoron - Coursework Example

BUSINESS ETHICS is an OXYMORON Student Name: Student P number: Module: Module code: Submission deadline: INTRODUCTION The question I seek to address is whether business ethics is an oxymoron. Is the code of standards to which individuals and organization adhere to while conducting business a lie? The term oxymoron, also known as compressed paradox, it is when contradictory words appear side by side in a figure of speech. Does this imply that the term business and ethics contradict one another? Ethics is a wide and a non-exhausted field of study. With the ever-growing world and advancement in every field, new trends of doing things emerge on a daily basis. Fundamentally, this paves way for tapping unexploited fields from a business perspective. As individuals or organizations strive to have an edge, as they adapt to changing ways of doing business, we are all left to ask whether or not their actions and means are justified (Wilson 1998). Ethics are principles or moral content that govern/oversee an individual’s or a group’s behavior. It is also the moral/just appropriateness of specified actions or conducts (Heinrich, Bowles, Fehr & McElreath 2001). On the other hand, business practices are activities, trade, or profession practices for a group (organization) or an individual. In addition, business practices are activities that individuals partake. Business is perceived as an activity or doings that entail exchange of goods or services in an aim to make a profit or a gain (Piper 1993). Business ethics is the critical, structures evaluation of how institutions/peoples ought to behave in the world of commerce. In particularly, business ethics entails evaluating appropriate constrains in the search for profit (firms/organizations) or self-interest, when the actions/doings of individuals/firms affect others (Heinrich, Bowles, Fehr & McElreath 2001). Conclusively, business ethics is an oxymoron. However, not all ethical practices in business can be perceived as contradictive to business. OVERVIEW ON BUSINESS ETHICS One of the oldest disciplines is ethics. Essentially, it is a field of study that entails morality within a community, nation or society. Aristotle, the person who introduced the word ethics also stated that ethics helps individual to do what is expected and know what to avoid. In recent times, there is a term Modern Ethics. This term modern ethics is a field that encapsulates human behavior and evaluates these behaviors. The behaviors are questions in terms of commonly accepted character/norms (Axelrod, 1984). When the utilitarianism philosophy is adapted in business, can that be deemed as ethical? Utilitarianism is philosophical system of measurement. It is based on the proposition that the usefulness of a product or service is measurable by its value to the society. This utilitarianism concept implies that the more something is used, then the greater the value it has to society. From a business perspective, this concept can be argued and deemed correct. However, this concept can still be argued otherwise. The extent to which a product or a service is used cannot generally be a factor in its value. The impact of the product or service on society can be good grounds to argue about the value imposed on the product. The utilitarianism concept is valid but biased as well. A bad habit or taboo that is commonly practiced within a society does not make it valuable. On the contrary, individuals or vigilantes can go out of their way to deal with the habit. Deontological ethics is a concept that seeks to justify morality of any doing. Hence, the concept is valid if the action and the perception of the morality relay on the tolerance to certain rules. It is argued that individuals ought to act out of duty if they are to act in a morally upright manner. This sends an image that if no rules or obligations are present within a given society then morality should not be expected. Organizational bodies have strived to structure codes of conducts. It is by these codes of conducts that all its practitioners and professionals out to perform any business. The deontological concept applies for this case. As for a community that have no codes of conducts for individuals or professional to adhere to, what then? Does that imply that people can go about doing unethical and immoral things because of no obligations or rules to govern them? In an attempt to curb the menace of unethical exploitation and behavior, professional bodies ensure that all practitioners or professionals conform to their code of ethic. Codes of ethics are sets of rules and standards formulated for organization members to only know and practice. These codes of ethics, knows as moral norms of human behavior, are what govern professionals in today’s world (Heinrich, Bowles, Fehr & McElreath 2001). Business ethics also fall under professional ethics as far as the definition is concerned. Businesspersons, entrepreneurs, and corporate organizations all have professionals. Individuals whose activities and livelihood have to conform to the business ethics norms are the sole focus of this research. In the world of business, entrepreneurs interact with many peoples in their line of work. It is vital that we draw the line between business ethics and business antiquate (Piper 1993). On the other hand, business etiquette is regulations and rules that oversee communications, physical appearances of businesspersons, and their working styles, how they negotiate and so on. Ideally, business ethics focuses on the presentation of businesspersons/entrepreneurs to one another, the public or to their customers (Benedict 2000). ETHICAL ISSUES In business organization, recruitment of skilled personnel is a common practice. Experience is a major advantage for individuals to ensure a strong baseline for an organization to prosper to greater heights. Upon recruitment, employers seek for the best quality that money can get. However, the recruitment practices do not necessarily mean that an organization has to break the bank (Heinrich, Bowles, Fehr & McElreath 2001). In search for skilled and experience personnel, the potential persons ought to be currently working and have portrayed adequate skills that can be utilized by the seeking organization. Considering that deferent organizations have different access to funds to invest on skilled personnel, big spenders have the competitive edge. Employee loyalty is limited to the contract they agree to when joining a given firm (Axelrod, 1984). Big spending corporation can decide to pay any pending buyout clause and lure potential skilled personnel with big salaries and bonuses. Question of whether this practice is ethical or not can arise. As far as employee loyalty is concerned, some firms over price the buyout clause for contract termination. This implies that employees have to rundown their contract and can loose on lucrative opportunities. This practice dubbed ‘brain drain’ is common in third world countries (Piper 1993). This vast ethic issue has no clear-cut lines to spell out how it should be tackled or handled. Gender equity and preferences are among the common ethic issues in out today world. Businesses have priorities that entail achieving their goals (profits), and for this, business organizations go for the ‘best person for the job’. Ideally, it is expected that gender issues not be overlooked in any organization. Women and men are considered equal in the society; however, there is the general perception that specific genders are best for jobs as opposed to their counterparts. Additionally, some professions are perceived to be better handled by genders (Putnam 1993). As business recruit using the ‘best person for the job’ policy, it is ethical that they overlook the gender of the potential recruit. Additionally, in the work places, gender discrimination is an issue and the majority of peoples closely relate this to employee harassment. Mostly, depending on the work environment, discrimination is mostly of gender if they are perceived as the minorities. Moreover, in employee harassment, senior employees exploit their powers and authority to oppress the junior colleagues. Environmental issues are of major concern in these current times. For the better of tomorrow, we are advised to preserve today (Heinrich, Bowles, Fehr & McElreath 2001). Companies/organizations always strive to limit their cost of expenditure. This can range to use of environmental hazardous way of either acquiring raw materials/ disposing of waste products. Ultimately, if a company’s action will have a negative effect on the environment or the surrounding community, they are then forbidden from those activities. However, most companies tend to justify the advantages over the disadvantages of their actions (Jan, Kindleberger, 2001). Therefore, if a company’s benefit to the society is greater than the negative effects in imposes to the surrounding, is it ethical to overlook this? If recruitment of underage labor is cost effective to the company and the recruits were willing and readily available to work, is it ethical to overlook this? Additionally, forcing employees to work below minimum wages under hostile condition is also an ethical issue (Putnam 1993). SPECIFIC ETHICAL ISSUES To what extend should businesses be loyal to their customers? In business, there is a general perception that the client is always right. Since clients/customers are the vital element in any business organization, to what extent should the business organization go to ensure their customers are satisfied. Issues such as; guarantee and warrantee claims, transparency and giving back to the community. The line between voluntary and mandatory services toward customers and employees is a thin one. The involvement of the company in community outreach programs and welfare at the expenses of company resources is an ethical issue (Axelrod, 1984). Secondly, the acceptance of moral responsibility of a company’s/business misdoings, whether to recall any goods from the market and buyers in case of faultiness as opposed to letting buyers suffer is an ethical issue. Mostly, buyers or users hardly read the terms and conditions for goods they acquire. This implies that they automatically agree to any stipulated terms upon purchasing a given product. Ultimately, customers are at the mercy of their vendors or manufactures in case of malfunction of the purchased commodity (Piper 1993). Businesses to business ethical issues revolve around the competition for market share. The presence of business with similar objectives always brings about competition (Jan, Kindleberger, 2001). Quality against quantity comes in play during competitions. Some companies opt to drop their prices to have an edge. This action can compromise consumer decision and tilt advantages to the organization that cuts prices for their goods. Additionally, similar businesses can coincide with others to raise prices of their commodity. At times, this act is preceded or succeeded by organizations falsely advertising that their supply or stocks are low. Panic inferred in customers triggers them to break bank just to get their commodity. Responsible organizations make kills for such actions. Despite this not being a criminal act, for organizations or commodities that have no price regulations sanctioned on them, it is questionable of whether this is ethical or not. Ideally, the consumer was ‘robbed’ blindly, but it is justifiable in the sense that the organization can regulate their desired prices (Jan, Kindleberger, 2001). CONCLUSIONS The discussion of the question in this research study expounds on the complexity of the term business ethics. The fight for clientele and triumph by businesses as they compete for the market is never ending. Nonetheless, the law has put in place measures and standards to be observed and it is vital to handle any business practice as a unique case. Conclusively, business ethics is an oxymoron. However, not all ethical practices in business can be perceived as contradictive to business. REFERENCES Axelrod, R 1984, The Evolution of Cooperation. Basic Books, Sydney. Benedict, R 2000. Patterns of Culture, an Analysis of Our Social Structure as Related to Primitive Civilizations. Mentor Book, Sydney. Heinrich, B, Bowles, C, Fehr, G, & McElreath, J 2001. Cooperation, Reciprocity and Punishment in Fifteen Small-Scale Societies. Press University Princeton, Princeton NJ, USA. Kindleberger, C & Jan, P 2001. Manias, Panics, and Crashes: A History of Financial Crises. John Wiley & Sons London. Piper, R 1993. Can Ethics Be Taught? Perspectives, Challenges and Approaches at the Harvard Business School. Harvard Business School Press. Putnam, R 1993, Making Democracy Work – Civic Traditions in Modern Italy. Princeton University Press, Princeton NJ, USA. Wilson, Edward O 1999. Consilience - The Unity of Knowledge. New York, USA. Read More