MGT610 Business Ethics - Assignment 1 Spring 2011 - Idea Solution

by Asad Thu Apr 14, 2011 8:49 pm

IDEA SOLUTION OF MGT 610

EVOLUTION OF BUSINESS ETHICS

The history of the evolution of ethics is essentially the history of sensibility

and intelligence coming to life. To move toward the ethical and legal is to move away from the primitive. There is a dynamic relationship between the evolution of rules, concern for human survival, and the need for increasing systemic efficiency. The evolution of ethical systems is a natural result of this relationship.

Ethical issues and society - examples

Involvement in the community
Honesty, truthfulness and fairness in marketing
Use of animals in product testing
Agricultural practices e.g. intensive faming
The degree of safety built into product design
Donation to good causes
The extent to which a business accepts its alleged responsibilities for mishaps, spillages and
leaks
The selling of addictive products e.g. tobacco
Involvement in the arms trade
Trading with repressive regimes

InstituteofBusinessEthics Suggestions for Good Practice

The Institute recommends that organizations issue statements of ethical practice in respect of:

Relations with customers
Relations with shareholders and other investors
Relations with employees
Relations with suppliers
Relations with the government and the local community
The environment
Relations with competitors
Issues relating to international business
Behaviour in relations to mergers and takeovers
Ethical issues concerning directors and managers