Friday, November 1, 2019

Morality And Business Essay Example | Topics and Well Written Essays - 1000 words

Morality And Business - Essay Example But here, the key fact to be noted is that, the existing laws have authorized these false claims, to a certain extent. Here, the obvious implication is that most of the businesses need to adhere to ethics, only to the extent dictated by the law. Beyond that, most of the entities are in no way willing to tread on the path of morality, lest their commercial motives are compromised. (1) Whether staunch adherents of morality like it or not, but the fact is that businesses cannot afford to lay excess emphasis on ethics, barring the legal stipulations. This is even more relevant in this contemporary era of heightened competition. There is no way in which business houses can survive in the markets if they choose to give tremendous weight to moralistic ideals. In the context of the subject being focused upon in this paper, the only candid response is â€Å"Yes! It is not moral to do business!† Here, it has to be specifically mentioned that this particular response is addressed to only those who believe that, come what may, there should not be even a minute deviation from the ethical principles. (1) Of course, there is no denying of the fact that, even in this day, there are business organizations running the extra mile in sticking to some aspects of morality. In most of these cases, this results from the entities being committed to any particular social cause, or being associated with any non-profit organizations. Whatever may be the driving force behind the moral commitment of a business, the key point is that it is their voluntary decision to address various ethical issues. The law in no way mandates that business houses do stick to all the norms that fall under the purview of morality. (1) A brief focus on another real life example would make one to comprehend as to why morality, after a certain point, has no place in business practices. When the matter of deliberations between management and trade union is taken, the irrefutable fact is that both the parties conceal the truth from each other. It is also a fact that when viewed only from the angle of ethics, lying is highly improper. But in this example, both the parties are aware that the other party is lying, and owing to this, it just cannot be expected that there is a scope for speaking the truth. As a matter of fact, in this example, if either of the party decides that there is nothing greater than being moralistic and that they should speak only the truth, then there would be only one consequence: Its interests would be compromised at the altar of moralistic idealism. (1) It is not that all the arguments are only one side; there are people who strongly argue that businesses can further their commercial objectives, even by laying lot of emphasis on ethical norms. For example, an argument here is that when a company, by adhering to morals, manufactures safe products, the same would drastically minimize the chances of facing suits related to product liability. This in turn makes sure that even the financial resources of the company are safeguarded. For, it is but obvious that severe financial implications are inevitable while facing legal suits.

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