Business Ethics

Paper Summary:

In this article, the writer maintains that the business person must be clear about his ethical principle or philosophy on money matters and this should be the foundation of his business. The writer states that wants can be considered needs and a person can learn and grow up to pursue wants and desires and never get satisfied. The writer then points out that this tendency can dominate a person and spill over to his adult life or business. Further, the writer notes that the pursuit of material acquisition can become the essence of a person's ethical decisions in business. The writer discusses that a person in business may not have to choose between principle and profits by developing the proper perspective or viewpoint regarding money and therefore observe his ethical principle while making fair profits.

From the Paper:

"Unprecedented major changes in society have been modifying the way people view the good life and among the forces shaping that view are globalization and the resulting cultural differences, new communication technologies rapidly transmitting information worldwide, the increasing gap between the rich and the poor, and the decreasing autonomy of national governments. More and more people expect business corporations to take the responsibility of addressing current social issues. Findings of studies revealed that there is a place for principles and profits and corporations have become more aware of their social responsibility. More and more businesses see that the key elements to competitiveness are employee productivity and innovation, when employees become most enthusiastic, productive and creative in evolving new ways of doing things. This requires an entirely new vision expressed in a mission statement, which details the values and principles to guide the organization."

Sample of Sources Used:

• Ping, A. C. Profits versus Principles. Insight Works P/L, 2001. http://www.insight-works.com/Articles/New-ways/Trustme.htm
• Outsourcing Times. Is Caller Abuse Worth It? Dotmarketer, 2005. http://www.blogsource.org/call_centers
• Putnam, Mark S. Getting Rid of Greed: Choosing Principle over Profit. Character Training Center, 2003. http://www.character-ethics.org/articles/greed.htm
• Sleek, Scott. The Battle of Creativity: Principle versus Profit. APA Monitor: American Psychological Association, 1998. http://apa.org/monitor/oct98/good.html
• Wynne, Michael. Profit versus Care. University of Wollongong, 2000. http://www.uow.edu.au/arts/sts/bmartin/dissent/documents/health/corp_perform.html

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