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Mgt 216 Final

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What is business ethics?

There are many different definitions of business ethics. In general, the term is used to mean a form of applied ethics in which a system of ethics and morality is applied in the business world. The exact application of business ethics will differ from organization to organization, and place to place. Different organizations deal with different stakeholders, different clients and customers, and different dimensions of the work world, industry, and market. The way business ethics must be applied is determined by the nature, mission, purpose and goals of a given company. The universal purpose of business ethics is to ensure that companies treat their workers, partners, clients, and any other involved shareholders or stakeholders with ethical and moral integrity. Business ethics used to be taken for granted and assumed, almost as an extension of the personal ethics of those involved in the business. In more recent years, however, following different issues including the 2001 Enron scandal, individuals and businesses have focused more on analyzing and formalizing business ethics (cf WiseGeek, retrieved 2010).

A Model Organization: Integral business ethics in terms of social issues, legal issues, and profit.

Taking a fictitious restaurant food supply organization called The Ultimate Deal, as an organization that serves as a model of business ethics, the practical implications of business ethics can be explained. The Ultimate Deal, as a restaurant supply organization, deals with several different organizations and stakeholders. It has its clients – the restaurants. It also has its own suppliers – the butchers and farmers that work together with it. The organization has its own employees, and the executive board. It also has its main investors, and other minor shareholders. Ethics must be applied in the organizations dealings…...

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