Business Ethics and Philosophy

Paper Summary:

This paper looks at the need for companies to espouse sound ethical guidelines and to assure that their employees and managers follow and practice these guidelines. The paper discusses ways that these guidelines can be made a part of corporate culture and thereby establish an ethically sound working environment. The use of procedures, ethically-oriented management philosophies, and problem-solving strategies are also covered.

From the Paper:

"Ethics are the "rules or standards governing the conduct of a person or the members of a profession" (Webster's Revised Unabridged Dictionary) or ethics are defined as "a set of principles of right conduct" as well as "a theory or a system of moral values" (Webster's Revised Unabridged Dictionary). Hence, these carefully formulated rules and policies determine "the actions or reactions of a person in response to external or internal stimuli" thereby energizing behavior of the employees and motivating them to perform accordingly (American Heritage Dictionary). Hence, all the reactions to an action as well as the rules and the policies drafted and the amendments made from time to time all form a fundamental part of the term ethics. In short, the people working for and the individuals owning a workplace form an organization where all are bound to obey the policies, rules and regulations constituting the social value system of an organization."

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