Question

rses/2018-SU BA---5103-OL1--OL-SU-2018 Week 1 Reading Compre 1.11 What is the Myth of Amoral Business? In what ways is it both an accurate representation of business and an inaccurate one? I .-. B I11

Answer 1

Myth of Amoral Business

Amoral means there is no place for ethics in business. Moral considerations are not required in a business. The myths are explained as follows

- Ethics are good on paper but fail in practical application.
- Ethics do not work in the real life because real life is much more complex.
- It is a very strict system that prohibits many things
- Declining moral standards are linked to personal value system and NOT to the business values.

A general thought is that the business and generally accepted set of ethics DO NOT MIX. Businesses are only concerned about making maximum profits. Such business practices are AMORAL, that is, it is not concerned with morals. Even the good acts are praised in cost benefit terminology.

It is not a correct representation because if all the stakeholders performed their duties IGNORING the morals and ethics, the business may soon collapse. Without morals, survival is not easy.

Businesses also have to maintain their goodwill or REPUTATION. Amorally, it can not be maintained. Businesses are a part of the society, so they do have duties towards the society as well. Performing these dutifully can help growth of the business by gathering interest of the public.