Business Ethics is not a new subject, but it develops rather intensely, so writing on it doesn’t become less challenging over the years. We have asked professional expert writers from WriteMyPaperHub to share some practical tips on how to approach writing a stellar business ethics essay.
Elaborate On the Variety Approaches
The researchers distinguish three approaches to understanding the problems of social responsibility of business and the ethics of managerial decisions:
The traditional (economic) approach – formulated by the Nobel Prize winner Milton Friedman. The logic of this approach is as follows: business organizations must serve the interests of their owners, and managers are only hired employees, whose task is to conduct business in accordance with the wishes of the owners. It follows that the true role of a business is “to use its energy and resources in activities aimed at increasing profits, provided that it adheres to the rules of the game … [and] participates in the open competition, without resorting to fraud and deception”. Thus, it is believed that the organization bears social responsibility, in compliance with the laws and prescribed rules for doing business.
The ethical approach (from the point of view of stakeholders) is formulated by a professor of sociology, recognized by the “guru” of management Peter Drucker. The essence of this approach is to recognize that the organization as a whole has ethical obligations to certain stakeholder groups. Stakeholders typically include founders, managers, shareholders (owners), suppliers, lenders, customers, local communities, trade unions, government regulators, professional associations, and employees. This multi-layered social environment is capable of significantly influencing the achievement of the organization’s goals; therefore, management has to balance its internal, purely economic goals with the social, ethical and economic interests of stakeholders. In practice (in developed markets), this approach is most common.
Socio-ethical (affirmative approach) – formed in the 60-70s of the last century under the influence of the philosophical and ethical views of a number of management theorists: Kurt Lewin, Edgar Schein, Henry Mintzberg, etc. According to this approach, managers and employees of the organization are responsible for balanced common interests: economic interests of the organization, interests of stakeholders and global public interests. This approach argues that organizations must bear voluntary commitments to society and direct part of the funds for its improvement.
Write about the Ways Used to Develop Business Ethics
Development of ethical standards – provisions describing the system of common values and rules of ethics of the organization. As a rule, such standards are written in the form of “Ethical Code,” that should create a vision of the company’s life and standards.
Creation of ethics committees. Such committees, as a rule, include representatives of the company’s top management, owners and other stakeholders. They play the role of magistrate, the “conscience of the organization,” making authoritative official moral judgments on controversial ethical issues.
Conducting social audits. Preparation of reports for the general public on the implementation of social responsibility programs, as well as on the ethical conduct of business, management decisions, and employee relations. As a rule, such reports are compiled by external independent organizations – leading magazines, television channels, associations, etc.
Teaching staff ethical behavior. Today, ethics courses are included in many advanced training and retraining programs. The purpose of such courses is to increase the general culture of behavior, as well as to bring people to the idea of moral responsibility and the moral consequences of the actions they perform.
Managers should serve as examples. The director, as a rule, is the moral leader of the company, setting the general climate and determining the degree of ethical behavior. High moral behavior of the leader almost always encourages employees to follow ethical standards.
Make a Thorough Proofreading and Fact Check
This advice is relevant when it comes to almost any kind of assignment, but still, you should not forget and follow it. Use online grammar checkers, read your final draft aloud and save enough time to read a written essay on business ethics at least twice. Pay extra attention to formatting, following the required formatting and citation style. You can use online citation generators to make your work easier and faster.
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