Class notes
Eb 121 - Chapter 20 Notes
- Course
- EB121 Business Management 1
- Institution
- Nelson Mandela Metropolitan University (NMMU)
This is a comprehensive and detailed note on Chapter 20; ethical values and principles. Quality stuff!!
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Business management chapter 20:Ethic values and principles may be explained in terms of the following:
The values and briefs of management and staf
The corporate culture created by executive management
Codes of conduct, as manifested in the business
Ethics and its three subdivisions:
Ethics is part of the age-old discipline of philosophy. Philosophy literally means
“the love of wisdom”. Ethics is part of practical philosophy where knowledge is
sought for the sake of its impact on human action.
To understand Ethics:
Ethics:
Meta-Ethics (Reflection on Ethical concepts and theories)
Ethical theory (proposals to determine what is considered ‘ethical’)
Applied Ethics (Application of ethical thinking to a specific field)
Professional ethics
Ecological ethics
Medical ethics
Business ethics
We can now conclude that business ethics is a form of applied ethics that
focusses on resolving moral dilemmas arising from doing business.
It is possible to make a distinction between descriptive and normative ethics:
Descriptive ethics refers to a state of ethics in a business ‘as it is’.
Normative ethics outlines how a business situation ‘should be’
Business ethics: Levels of application
Macro level of application
At a micro-level of application, business ethics finds its widest application.
A second macro ethical question relates to fair global trade, and the stark
division between rich and poor countries. The so-called- two-thirds world,
, backed by a small but powerful international lobby point to the deep
ambiguities of the current global economic system.
A lot of free market talk, but more protectionism for rich countries for
products ranging from agriculture to steel
Loss of national political autonomy under policies devised and
implemented by institutions like the International Monetary Fund and
the World Bank
Growing power to multi-national companies, subject to no or very little
democratic control.
A growing, instead of narrowing, of economic fortunes between North
and South, based on an already existing and expanding digital divide.
Meso level of application:
Meso ethics refers to regional or local ethical issues.
At meso level, business ethics addresses questions related to the interaction
between one business and another.
What level of taxation is fair and does the state deliver in providing value for
the taxes that were paid?
What are its responsibilities toward the surrounding communities?
Nog vrae op bl 519 (ja el is lui okay)
Micro level of application
At micro level, business ethics addresses intra-organisational business and
personal moral dilemmas. The focus is on ethical organisations and ethical
people.
Sagas of directors who treat companies as their personal property, disregarding
shareholders’ interests in the narrow and greedy pursuit of their own interests,
abound in newspapers and financial journals. Some of these directors end up in
court.
This value crisis unfortunately extends to ordinary people and has become a
pervasive and destructive force that threatens the very basis of the economic
and democratic order of South Africa.
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