Ethics and Business Research Paper Example | Topics and Well Written Essays - 2000 words

Ethics and Business - Research Paper Example In short, ethical principle differs in different societies. Under such circumstances, it is difficult for a society filled with Muslims and Christians to standardise ethical principles. Business is one area in which ethical principles have relevance. The ultimate objective of many of the business organizations in this world is to make as much as profits possible using all the available means. Such greedy business organizations sacrifice ethical principles in business to generate profits. However, it is difficult for such organizations to survive in the business world in the long run. This is because of the fact that current consumers are valuing and respecting the reputation of the organization more while they take any purchasing decisions. Modern consumers respect organizations which demonstrate their social responsibility. In order to sustain business in the current heavily competitive business world, it is necessary for the organizations to give something back to the community in which they operate. Crane &Matten (2007) pointed out that â€Å"There appears to be good reason to suggest business ethics as a phenomenon, as a subject, but not as an oxymoron† (Crane &Matten, 2007, p.5). Business and ethics are not all contrasting each other. In other words, it is possible to do business in an ethical manner. Business ethics is important in decision making, personal integrity, social responsibility, law etc. This paper analyses the importance of ethics in business. Business Ethics as Ethical Decision Making   One of the fundamental handicaps of business is its misguided tendency to view ethics and business as if they can be treated as separate or separate-able. Business cannot and should not be disentangled from ethics and viewed in isolation any more than operations or marketing can or should be considered without regard for the products or services being inventoried or sold. The economics should not be paramount to ethics in business; if anything, ethic s should be paramount to economics (Elm & Radin, 2012, p.314). Business is part of human life and hence it cannot be viewed in isolation with our social life. In other words, whatever, the ethical principles one may follow in his personal life, should be followed in his professional or business life also. So, whatever the decisions taken in business should be in line with the ethical principles. A business person cannot follow one policy in his personal life and another policy in his business life. It should be noted that most of the parameters we come across in business may come across in our personal life also. Therefore whatever the ethics and morals we follow in our personal life should be followed in business life also. Manpower is one of the major resources needed for business. Unlike machines, man has emotions and feelings. So, a business person cannot treat manpower and machine power in the same manner. He should treat manpower separately and machine power separately. He can not ask an employee to work continuously just like a machine. Same way, in an organization, different employees may have different capabilities. It is difficult for a business person to ask all his employees to demonstrate a particular level of efficiency. In other words, a business person should take decisions based on the circumstances and humanitarian considerations. In short business decisions should be taken based on moral reasoning. â€Å"

Understanding Challenges In The Third Sector Essay - 3

Understanding Challenges In The Third Sector - Essay Example Now besides donations, the organization charges for its services from people who can afford to pay, which enables them to look after poor and destitute people. Large businesses and corporations donate generously to such organizations in the form of cash and kind. They help with the purchase of equipment, construction and contribute whatever is needed for extraordinary circumstances. The public also trust charitable organization and appreciates the work that they are doing. The public also donates in their individual capacities according to what they can afford. Besides cash and kind, many people voluntarily give their time to these organizations, which spares the organization from spending money to hire people for performing these tasks. People also organize walks and other special events such as musical programs, shows or organize dinners for raising funds. All proceeds are all donated to charitable organizations such as St. Elizabeth to meet all its expenses. What I think is that to be successful, charitable organizations need a local as well as an international perspective. The local chapter addresses and looks after communal issues, while their global perspective, reputation and image is looked after by the international wing. In this technological age, the international image is as important as the local image and reputation of the organization. The global recession has left more people without jobs and needing help from charitable organizations. Cost of Medicare have more than tripled in the last decade, and even people who are earning well might not be able to afford medical expenses for their dependents, especially those requiring special care. With the economy in such a bad condition and people without jobs, it is not possible to raise adequate funds from local communities. Charitable organizations have to look outside their localities and sometimes even outside their countries for support for their charitable work. . I know for a fact