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Business Society And Government Essentials Strategy And Applied Ethics 2Nd Edition
Actions Shares. Embeds 0 No embeds. No notes for slide. Book Appearances 4. For example, an ethical quandary arises for an investment brokerage when the best decision for a client and his or her money does not coincide with what pays the brokerage the highest commission. A media company that produces TV content aimed at children may feel an ethical obligation to promote good values and eschew off-color material in its programming.
A striking example of industry-specific business ethics is in the energy field. One misstep — whether it is a minor coal ash spill at a power plant or a major disaster such as the BP oil spill — forces a company to answer to numerous regulatory bodies and society at large regarding whether it skirted its duty to protect the environment in an aggressive pursuit of higher profits.
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A stringent, clearly defined system of environmental ethics is paramount for an energy company if it wants to thrive in a climate of increased regulations and public awareness on environmental issues. When it comes to protecting their customers' privacy and security, however, their ethics are examined very closely.
A particular area in which technology companies must make tough ethical decisions is marketing. Many people view this type of activity as a major invasion of privacy. However, such customer data is invaluable to businesses, as they can use it to increase profits substantially.
Thus, an ethical dilemma is born: To what extent is it appropriate to spy on customers' online lives to gain a marketing advantage? The importance of business ethics reaches far beyond employee loyalty and morale or the strength of a management team bond. As with all business initiatives, the ethical operation of a company is directly related to profitability in both the short and long term.
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Companies have more and more of an incentive to be ethical as the area of socially responsible and ethical investing keeps growing. The increasing number of investors seeking out ethically operating companies to invest in is driving more firms to take this issue more seriously. Small Business.https://linkmilucounsla.tk
Business, Society, and Government Essentials: Strategy and Applied Ethics by Robert N. Lussier
Business, Society, and Government Essentials: Strategy and Applied Ethics
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