Question

List the four basics tool of ethics and give a practical examples of each in the business environment

Answer 1

Ethics

Ethics is generaly considered as the actions, attitude and thoughts which we don't want others to do to us. Its an important aspect of fareness in action and mutual trust. Ethical reasoning is an every day action in taking decisions and responding to the working environment.

Ethics os a moral pjilosophy which systematize, defend and recomment right aand wrong concepts. The pointer is towards sustainable goodwill to the environment. So ethics studies the moral behaviour in human interactions. A decision with good ethics will be rational, optimal and appropriate based on common wisdom.

Business ethics is applied ethics in business environment. Business ethics is the environment where follwing cherecteristics are evident.

• Respect for each employee we interact with.
• Mutual respect among all employees
• Keeping procedural fairness by nonpartial and fair approach
• keeping decision making transparency which makes the employee understand why we take a purticula decision.

The above concepts are based on 4 basic tools of ethics. They are as follows

1. Values

The things you want to happen are valued by you. Its a kind of relatively permanant thinking of goodness and peace. Values addresses 'Why' questions for decisions and actions. That will lead to formulating decsions for the goodness of involved entities and the environment.

In a business environment the stakeholders always seek something out of the business and this brings in some values to business. For example size of the organization, its profitability or product quality etc are some of the important values of business. If a complained comes from a customer about the delay in reaching a service offered by the organization immediately the manager asks the question Why? This will make the loopholes and rectify the deviations. This process is making a sustainable value proportion in the organization

2. Righys & Duties

Right of a person is the claim for his action. Rights are considered to be nonchallenging as per social or leagal norms with ehical support. Duties are the responssibility of a person to execute certain specific steps.

To get annual paid leave for a stipulated days at the end of the year is the right of an employee as per factories act. No organization have any doubt on this. Toilet facillity is the right of the employee. Now, in the same case, it is organization's duty to sanction paid leave for the number of days applied by the employee with in the stipulated norms. It is Organization's duty to provide good toilets in sufficient numbers as per the industrial norms.

3.Moral rules

Some attitudes and behaviour which is internalized for carrying values are considered as moral rules. It is prominent during decision making while conflicting interests prevail. Moral rules provide ethical guidelines to resolve conflict between opposite interest. This is a kind of internal rule.

For example, if an employee trained on a purticular work is not performing up to the standards and the training supervisor at that moment is supposed to deal with him in good understanding and respect. Eventhough it is giving extra strain to the supervisor and extra cost to the company, moral rule guides the supervisor to behave.

4. Human Relationship

All are connected and having lots of transactions. We all keep relations and the ethical chord in the relationships is valued high. All behaviour and decisions are suppossed to be on mutual respect, fairness and transparency to empower each other.

In a business environment collective bargaining between labour union and management is a food venue to put maximum effort from both sides to behave properly and respect each other to keep the relations intact. The guide lines will be based on ethical values and individual respect. If the union decided to go for a wrong purpose of the financial gain of the leaders, then the members of the union can change the leadership on ethical ground.