Unity University: Name Mahlet Tesfaye

Unity University
Course Title: Ethical and legal Environment

Individual Assignments
NAME MAHLET TESFAYE

SECTION B
1, why do we, as part of the society, care about
business ethics? Discuss
We care about ethics that’s because we are all aware of the idea
that how we act reflects what kind of people are we. Business
ethics is not very strict, that’s why we need to do some actions
where in a little amount of respect is visible.
Whether we are working in business industry or not, we should
always care about ethics in general. Because business ethics helps
as to attention to business ethics has substantially improved
society and help maintain a moral course in turbulent times.
Ethics also employees make better decisions in less time with
business ethics as a guiding principle this increase productivity
and overall employee morale. When employees complete work in
a way that is based on honesty and integrity, the whole
organization benefits.
Business ethics is a form of applied ethics that examines ethical
principle and moral problems that arise in a business environment
Whenever we start talking about obligations that are not
generated by the low, we are talking about ethics. So we want to
know what ethical obligation or responsibility’s we would have as
a business person. Even if we think that our only responsibility is
to shareholders, that’s still an ethical responsibility.
Employees make better decisions in less time with business ethics
as a guiding principle this increase productivity and overall
employee morale. When employees complete work in a way that
is based on honesty and integrity, the whole organization
benefits.
If we are not ethical in business ever, how can we ever say we are
ethical in our personal life? Our system treats unethical behaviors
differently. We treat serial killers with an expensive painless
death, but handle white collar crimes with minimal consequences.
Ethical values also help guide more effectively with ethical
dilemmas by eliminating those behaviors that do not conform to
our sense of right and wrong our best rational interest without
sacrificing others.
2, can ethics and profitability co-exist? Make a critical
reflection by raising the contending argument on the
issue.
Yes, ethics and profitability can co-exist the biggest example
of ethics such as Tata group which is an Indian multinational
conglomerate company. The combined market capitalization
of all the 32 listed Tata companies was $96.87 billion as of
Sep 2013. Tata receives more than 58% of its revenue from
outside India.
Tata group is famous for its ethical practices. Here is an
example of Tata ethics.
Co-existence there is one and only social responsibility of of
business and that is to use its resources and engage in
activities designed to increase its profiles so long as it says
within the rules of the game, which is to say engages in open
and free competition without deception or fraud.
Being ethical limits profit companies who claims to be
ethical, often have ethics only in their words, not in action.
Business is done with the aim of producing maximum profit
whereas ethics is about what is right and wrong. This two
can’t go together, if we want to be success immediately.
Ethical companies and employees are more successful.
Companies with a strong ethical foundation tend to do
better financially, have higher rates of employee retention
and higher customer service satisfaction numbers.
Also factors play an important role in making a business
profitable which includes dedicated and productive
employees, expert management teams and consistent
consumer demand.
By the following ethics in business, organizations can make
correct judgment and decide what is right and wrong for
them.
For example if we can take a coffee powder manufacturing
company which strictly follows business ethics, use the
beans which are picked without causing deforestation.
The most ethical business are not the most profitable
because ethical companies instill the culture that being
more ethical than another company with produce more
profit this is false statement.
Maximizing profits is focus on what the company does well
and how to extort those factors.
The short term profits of unethical company and focus to
provide the maximum reward for investors pay off.
Focusing on ethical culture in the work place, cut time for
maximizing revenue and degrades the employees by
ingraining ethical standard are greater than the monetary
gains that could be earned.

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Unity University

Course Title: Ethical and legal Environment

NAME MAHLET TESFAYE

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