Business Ethics Enhancing shareholder wealth is a good starting point, but many organizations will take the idea further. In addition, there are different interpretations of what enhancing shareholder wealth might mean -- for example the debate between long-run and short-run shareholder wealth enhancement -- so the organization should always have a set of principles and a code by which to make such decisions.
The organization should take a position that it is okay to pursue its actions on the issue. Hartman (2013) makes the point that the business, and the people within the business, should follow a path that emphasizes selfishness. This selfishness is an expression of individual liberty and should not be constrained by the wishes of others, so long as the actions do not harm others. Given that actions are apt to have unpredictable and unknown outcomes, the only reasonable response is either to never do anything, or to do what you need to do.
The company should have, however, an ethical code that helps to guide decisions. It not reasonable that the organization should approach a complex ethical dilemma with an ad hoc system of solutions, but rather it should focus on developing a system by which managers within the company should know what their course of action should be (Stevens, 2008). This is because within a company, managers are agents for the shareholders. Thus, managers cannot simply be left with the impression that they should do whatever is in their most selfish interests, because that might lead to short-sighted actions that are not in the best interest of the company.
Thus, the organizational position cannot be developed without having a fundamental code of ...
Rhode (2006) argues that the organization should have a set of principles by which it conducts business, and that this set of principles should come from the leadership on downwards throughout the organization. Again, this highlights the need for the set of principles to be embedded in the corporate culture, and for the set of principles to be taught throughout the organization. It is entirely reasonable, then, that the position developed for the organization should be developed with the interests of many different stakeholders. Senior management, for example, must be involved, because the position will require buy-in from that level in order that the rest of the…
Enhancing shareholder wealth is a good starting point, but many organizations will take the idea further. In addition, there are different interpretations of what enhancing shareholder wealth might mean -- for example the debate between long-run and short-run shareholder wealth enhancement -- so the organization should always have a set of principles and a code by which to make such decisions.
3. Professional codes are put in place by industry organizations in order to guide the behavior of their members. The codes provide definitions and guidance with respect to right or wrong behavior. In some cases, these codes also include provisions for the discipline of members that do not adhere to the conditions of the code. The codes also serve another purpose is that they communicate to the public the ethics
Business Ethics Focus on Merrill Lynch According to Laura Hartman and her co-writer, Joe Desjardins in the work entitled "Business Ethics: Decision Making for Personal Integrity & Social Responsibility" philosophical ethics may be clearly differentiated from theological ethics because theological ethics attempted to disseminate the well-being of an individual on a religious basis while the ethics of an individual's philosophy is such that provisions of justifications that can be applied to
2). These are important issues because fire chiefs are routinely confronted with actual ethical dilemmas that involve conflicting or competing public and private values as well as corresponding conflicting professional responsibilities (Haraway & Kunselman, 2009). This point is also made by Pammer and Killian (2003) who cite the expanded responsibilities of both fire chiefs and line personnel in recent years. According to these authorities, "A successful fire chief today
Business Ethics "the High Cost of High-Tech Foods case" The cost of high-tech food continues to arouse debates over the ethical, moral, and practical impacts the foods have on the people, market, and economy. However, it is evident that the proponents and opponents of the motion do not seem to come to agreement as each holds their view right. The situation worsens due to the application of emotions in addressing the matter
Business Ethics Company Overview Ethics and Code of Conduct Guiding Principles Our Ideology; Our Objectives; Our Core Values that shape us; As a part of my Business Ethics lesson I have a task to criticize and improve my company's code of ethics, before doing that I want to briefly explain about my company; MLS Holding and what we do? The most effective statements in regard to business ethics are rooted in the strategic vision of an organization
Business Ethics Ethical Egoist- Egoism can be either descriptive or normative. Descriptive egoism holds that for each individual, there is only one ultimate aim -- survival and the betterment of the sole individual based on their own hierarchical principles. Normative egoism has the individual making claims about what should be done to do the "right" thing, rather than what one does. As well, ethical egoism insists that for an action to