Legal and Social Environment of Business Ethical Dilemmas

LEGAL AND SOCIAL ENVIRONMENT OF BUSINESS ETHICAL DILEMMAS Ethics is an essential component of all situations and decisions of life, whether personal or professional. Ethics defines itself as, a systemized set of generally accepted standards or moral values and also the academic study of such belief systems (Massey stream glossary). Ethics can further be divided into various categories depending on the issues and aspects of each respective case. An ethical dimension of business decision-making has been discussed in ‘A Sticky Situation’, which is faced by Kent Graham (Shaw, Barry, amp; Sansbury, 2009). In this particular case, Kent Graham faces various normative theories of ethics. The situation faced by Kent Graham is very much important†¦show more content†¦Kant aimed to ensure that his absolute moral law would avoid such contradictions. If he formulate such a rule, he maintained, everyone would be obliged to follow it without exception. Kant’s ethics can be well applied for this situation of Kent Graham. Kent i s in a situation where his bonds of duty to his family hold him in making a decision that will profit him personally. He is under the pressure to support his family and this thought cannot be considered wrong or as a crime. Kent took the decision to negotiate the firm’s deal, which is an act that could be right or moral as it came from the cause of good will and duty. Like Rousseau and Hobbes, we at least think of the state as if it had arisen out of social contracts with people. Another ethic to put light on for this situation is the Egoism. Ethics has defined egoism as the view that equates morality with self-interest. Egoism contends that an act is morally right if and only if it best promotes an agent’s long-term interest (Shaw amp; Barry). Moral philosophers distinguish between two kinds of egoism: personal and impersonal. Both are more overly based on the long-term interests. In this situation Kent Graham portrays a great deal of egoism, which can be further related to personal egoism. In order to retain his position in the firm and also for the welfare of his family, Kent graham goes ahead in negotiating his deal to Jack Olson at Spray-OnShow MoreRelatedThe Ethical Issues Of Workforce Ethics1584 Words   |  7 Pagesproduction. The Australian Government have put forward ethical standards that must be abided by when companies face ethical dilemmas. Many company’s follow these rules and go above and beyond to ensure ethically behaviour is maintained. However, many company’s fool the system by ‘bluffing’ that they act in an ethical behaviour. The major factor why companies opt to act ethically or unethically is to ensure they are competitive among the market. Ethical companies see maintaining ethically as a strategicRead MoreEthical Lens Essay819 Words   |  4 Pagesindividual persons within the organization. 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