What Is Business Law And Ethics

What is business law and ethics

Number of respondents Graphic 1 Looking at Graphic 1, we can get an overview of how managers who participated in the study see moral and ethical values. Clearly, we can distinguish several fundamental moral values, but two of them are mentioned by almost all the respondents. The first one is shaped around the expression honesty and, in few examples, fairness.

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These two can be included in one moral value, integrity. In the study, this is the most valued moral value. The second moral and ethical quality valued in gay marriage cons study is respect. It is presented gay marriage cons respect towards employees and respect towards collaborators and clients. This value becomes important through the concern for others, in order to create a social balance. In a study conducted by Mathew A. Two dilemmas are brought into the picture. The first one is related to the ethical perspective of the duty that the employees should have towards the one who pays them and the values of the company. The question at issue is related to the limits of this loyalty. Another dilemma is related to a requirement from the employer that can be considered extremist or illegal.

As an extreme example, the author gives the case of the US in September 11, The two dilemmas are brought into picture in order to delineate the need or the lack of need for loyalty. Beyond these discussions, loyalty remains an important element in running a business and particular matters should be resolved separately. Our conclusion is that here becomes essential in the business process and the employee must be loyal to the company, except for extreme situations, which are illegal or can be considered unethical.

Another important element of business ethics is integrity. According to the study represented in Graphic 1, the interviewed managers considered honesty to be an indispensable value in business.

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But there is a need for a type of business development that brings into picture the proactivity of the manager or employee, becoming a promoter of ethical values, not only a skilful character who manages to figure things out without being caught or without being accused of an illegal or immoral crime. In this context, integrity becomes the opposite of hypocrisy.

Hypocrisy represents a false attitude in interpersonal relations, the individual seeking to grab attention, favours, etc. Enachescu, In the moral dimension of the individual, integrity represents transparency, authenticity. One could ask what motivates an individual in having integrity.

The danger of being caught and punished for doing something wrong? What would his children or grandchildren think about that individual who lacks integrity? Kennedy, Integrity is an intrinsic value, a value that the individual does not develop because of an outer primitive element, but because of a culture of inner morality.

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Ethics also materializes its importance for business through the study conducted with the participation of 45 managers. The most important ethical issues highlighted by the answers to the survey were: honesty, respect, fairness, transparency, dignity, etc. The interest of the Romanian managers in business ethics is reinforced by the positive response regarding the existence of an ethical code required for a proper management of business relationships.

The profile of a businessman becomes positive, in the context on an increasingly greater interest in ethics and in accepting a goal that should have been considered imperative and urgent from a long time ago. The two moral values discussed in this article are important in the context of an important business development endeavour and of creating a credible economy.]

What is business law and ethics - read this

Transparency Transparency involves accurately representing facts, telling a truth in its entirety and communicating clearly and openly about everything a company does and says. It is the foundation of a strong relationship with customers, which directly impacts the success and stability of a company. The more candidness a company shows, the more the public is likely to trust in its service, product or mission. This is especially true during public relations crises when full disclosure is imperative to overcoming business issues. Integrity Sticking with a decision, especially when pressured to do otherwise, shows honor and courage. Companies that do what they believe is morally right based on equality and fairness can demonstrate strength and commendable character.