Essays on Ethics in Business Assignment

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The paper "Ethics in Business" is a wonderful example of an assignment on business. Ethics in business had been an issue that has attracted widespread debate where various parties have had difficult moments in establishing what can be truly termed as ethical in business and unethical. Different models and theoretical approaches to this concept do not fully encompass and find a centralized definition of what is ethical and what is not ethical in business (Amat & Gowthorpe nd, p. 4). For instance, one company may take up a cost-benefit approach to its business activities.

To them, the end would most certainly justify the means. It would not really matter that much how they got there provided they achieved their objectives. Other companies take a more utilitarian approach where they define the outcomes based on the effects upon every member who made a contribution to the same. In the first case, many companies will analyze their benefits after a process is completed. Here, they do not put much emphasis on the process that was used to arrive at the stipulated outcomes that they now have.

If the benefit is high, they justify the means used to come to that end regardless of whether it was ethical or not. different companies operating in different demographical capacities have different definitions and approaches to ethics in business. In the above case study, it can be clearly be observed that there is a breach of ethics in business. The mining of Mica, the important commodity used to make polishes and paint is in great demand across the world with a kilogram of the commodity being sold as high as $ 1000.

This sounds good showing that those who have involved themselves in the process of selling the commodity actually benefit a lot from the sale of the same. The returns (the benefits) are quite high in this case. Cosmetics companies across the globe purchase this raw material and use it to create their cosmetic products. These products are highly valued by all lovers of fashion and they are priced highly too. It seems that there is a lot of goodwill to go around following these benefits accrued.

However, it is important to know the details of the process used to acquire this commodity and once the finished good is traced back to the origin, it loses its aura.

References

Aktan, B, Masood, O and Yilmaz, S 2009, “Financial shenanigans and the failure of ethics in

banking: a review and synthesis of an unprecedented fraud”, Banks and Bank Systems journal, vol. 4, no. 1, pp. 30-33.

Amat, O and Gowthorpe, C nd, “Creative Accounting: Nature , Incidence and Ethical

Issues “, Retrieved from http://econ.upf.edu/docs/papers/downloads/749.pdf

Mounira, A 2009, “Ethical Investment and the Social Responsibilities of banks”,

International Business Research, Vol.2, no.2, pp.123-130.

Romila, P, Lee, C and Dilip, G 2013, “Financial transaction and fiduciary obligation:

Ethics, economics or commingled commitment? ” International Journal of Banking and Finance, vol.9, no. 4, pp.1-27.

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