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NUR 2115 Final exam Q&A,Fundamentals of Professional Nursing Detail solution and Resources for complete exam $17.99   Add to cart

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NUR 2115 Final exam Q&A,Fundamentals of Professional Nursing Detail solution and Resources for complete exam

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NUR 2115 Final exam Q&A,Fundamentals of Professional Nursing Detail solution and Resources for complete exam

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  • December 15, 2022
  • 183
  • 2022/2023
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Business Ethics and Corporate Governance
STUDY GUIFDE review exam solution
2022


Meaning & Definition of Ethics and Business Ethics:




Many philosophers have expressed different views about ethics. But they all agree that, in

essence ethics deals with what is right or wrong. Business ethics is nothing but an

application of ethical judgments to business activities. There was an argument whether

ethics should form a part of business or not. This resulted in three different views:

Unitarian view, Separatist view and Integration view. Unitarian view argues that morality

and ethics are related to business. The Separatist view expressed that, business should

concentrate on profits, and ethics and morality do not form a part of business. The

Integration view defined a new area called business ethics, where ethical behavior and

business are integrated. The external forces like government, market system, law and

services will guide the ethical behavior of the business. Finally, the chapter discusses

about the need or necessity for business ethics - business in order to survive in the long

run should concentrate on the welfare of the society.



Nature of Ethics: The followings are characterized as the nature of ethics.

1. Ethics deals with human beings

2. Ethics belongs to the field of social science. It deals with moral behavior and

conduct of human being.

Business Ethics and Corporate Governance
STUDY GUIFDE review exam solution
2022

, Business Ethics and Corporate Governance
STUDY GUIFDE review exam solution
2022
3. The science of ethics is a normative science. It deals with value judgment. It

decides what ought to be rather than factual judgments.

4. It deals with human conduct which is voluntary and not forced by other person or

circumstances.

Sources of Ethics: Five primary sources of ethics have been identified in the American

business area by ethics scholars George and John Stever as under:

1. Genetic Inheritance: A lots of evidence and arguments suggests that the

evolutionary forces of natural selection influence the development of traits such

as cooperation and alteration that lie at the core of our ethical system.

2. Religion: Many business people believe that their religion provides them with

ethical principles and standards which are applied in business. Hinduism,

Christianity, Islam, Judaism are the great world religions that guides people to

behave ethically. The Christians believe the ten commandments as the will of

god and so preached in their day to day life. The ethical commands are:

• You shall not kill

• You shall not commit adultery

• You shall not steal

• You shall not bear false witness against your neighbors

• You shall not covert your neighbor’s house.

3. Philosophical system: There are two basic philosophical systems who teach


Business Ethics and Corporate Governance
STUDY GUIFDE review exam solution
2022

, Business Ethics and Corporate Governance
STUDY GUIFDE review exam solution
2022
differently to pleasure and pain. The Epicureanism believe that pleasure is the

chief good. Whereas the stoics are indifferent to pleasure and pain. Similarly

different philosophies guide people differently towards good and bad.

4. Legal System: The law educates us about the ethical course in life. The

legal system of a nation guides the businessmen how to deal with

employees, shareholders, customers, suppliers and with the society at large.

5. Code of Conduct: The followings are the three primary codes of conduct to

shape our ethical judgement. These are as follows:

• Company Codes

• Company operating policies

• Code of Ethics.

Definition of Business Ethics:



Business ethics is a form of applied ethics that scrutinizes ethical principles and moral or

ethical problems that occur in a business environment. In the more conscientious

marketplaces of the 21st century, the demand for more ethical business processes and

actions (referred to as ethicism) is mounting. Also, pressures for the application of

business ethics are being exerted through enactment of new public initiatives and laws



What is Business Ethics?


Business Ethics and Corporate Governance
STUDY GUIFDE review exam solution
2022

, Business Ethics and Corporate Governance
STUDY GUIFDE review exam solution
2022


Business ethics demand that a company examines its behavior towards the outside world.

It takes into consideration morality, ethical reasoning and ethics application. For instance,

the business manager's moral philosophy of situations do affect the manager's ethical

beliefs. Moral philosophy pertains to the overall guiding belief system behind the

individual's perception of right or wrong.



It is important to be acquainted with moral philosophy, ethical reasoning, and especially

the application of ethics to business and management. Ethical theories and concepts are

important to resolving moral problems confronting business. Employees and managers

must integrate moral concerns into their decision-making process.



What is ethical business performance?

Ethical business performance always adheres to society’s basic rules that define right and

wrong behavior. One of the major challenges faced by business is to balance ethics and

economics. Society wants business to be ethical and economically profitable at the same

time. Therefore the ethical decision should be right, proper and just.

Ethical Objectives: The followings are the basic objectives of ethics.

1. It studies human behavior. It makes evaluative assessment of what is moram

and what is immoral.



Business Ethics and Corporate Governance
STUDY GUIFDE review exam solution
2022

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