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Business Ethics in Modern Realities

Business ethics is one of the essential components of working in a business environment. Due to its principles, ethical problems and moral issues that arise during work between people can be considered and resolved. Moreover, ethical value systems also support business performance (Ferrell et al., 2019). This course’s study has greatly influenced my perception of reality since business ethics carries a meaning not only for work but also automatically transfers to decisions that manifest themselves in personal life.

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Business ethics can act as a solution to a conflict, for example, related to moral or value dilemmas. An interesting observation may be that firms that do business in the same area, such as selling televisions, may have completely different values. In this case, each of the companies follows its type of behavior, reflected in their values. That is why each company must define its values and then follow its route initially. Corporate social responsibility’s meaning is that the company is responsible for any consequences of its actions among people (Ferrell et al., 2019). Therefore, if a company wants to be perceived as a reliable business partner and a respected member of the business sector, it must practice exemplary ethical behavior (Sroka & Szántó, 2018). For example, after the Dove campaign supporting the diversity of women’s images in advertising, other smaller brands also became more loyal to different types of people in advertising.

Corporate governance is also vital for doing business, as it is with the help of it that everything that happens in the company is controlled. Therefore, one of the basic concepts in business ethics is specially created ethical programs for employees and their control by the ethics chapters (Ferrell et al., 2019). This factor can be used in a human’s personal life because they can use it to track their behavior and adjust it depending on what they want to achieve.

Of course, we must not forget about stressors that affect human behavior; for example, a stressor is a loud noise for me. However, with the help of business ethics and corporate governance functions, people can solve this problem. The same method can be used in other work-related situations and beyond. Therefore, I believe that this subject played an important role. I have learned many ideas and thoughts from this subject that I can put into practice, which is an indicator that the item was valuable.

References

Ferrell, O. C., Fraedrich, J., & Ferrell, L. (2019). Business ethics: Ethical decision making and cases. (12th ed.). Cengage Learning.

Sroka, W., & Szántó, R. (2018). Corporate social responsibility and business ethics in controversial sectors: Analysis of research results. Journal of Entrepreneurship, Management and Innovation, 14(3), 111–126. Web.

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StudyCorgi. 2022. "Business Ethics in Modern Realities." December 7, 2022. https://studycorgi.com/business-ethics-in-modern-realities/.

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StudyCorgi. (2022) 'Business Ethics in Modern Realities'. 7 December.

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