Business Ethics

Unit Aim:

The aim of this unit is to introduce learners to the concept of business ethics and to examine its relevance when considering business objectives and responsibilities.

Learning outcomes

LO1 Understand different ethical perspectives in business

1.1 explain the background and development of theoretical ethical approaches

1.2 compare and contrast absolute and relative ethics

1.3 explain the ethical issues which can affect the operational activities of a business

LO2 Understand business objectives from an ethical perspective

2.1 explain how business objectives are affected by ethical considerations

2.2 evaluate the implications for a business and its stakeholders to operate ethically

LO3 Understand ethics in workplace relationships

3.1 assess the role of the company acting as moral agent

3.2 analyse the development of mechanisms for achieving employee involvement and empowerment

LO4 Be able to assess a current ethical issue in a business

4.1 research a current ethical issue affecting a selected business

4.2 report on how the business could improve the ethics of their operations whilst meeting objectives and ensuring good employer/employee relationships

4.3 design a suitable ethical code.

Task 1: Describe theoretical ethical approaches and explain how they have developed over the course of time. Give modern business examples of how these theories are applied in the business world of today.

Task 2: Explain absolute and relative ethics giving business examples.

Task 3: Explain what ethical issues can arise in an organization’s operational activities that could be harmful to individuals or to the environment. Describe how they can be properly managed resulting in an positive impact.

Task 4: Research and comment on examples where business objectives such as profits and market share and /or targets such as environmental policy targets , standards and long terms objectives such as growth and expansion are influenced by a desire to behave ethically.

Task 5: Evaluate the benefits and/or restrictions to an organization’s suppliers, customers, employees, strategic options, special profits and it’s business image while operating ethically. Do ethical considerations enhance or restrict these factors.

Task 6: Determine if a company or business should have morals, exhibit ethical behaviour, care for the environment, local community and fair and equal treatment to it’s employees or should it focus only on generating profits.

Task 7: Document what the current trends are to make the employees more involved in their work activities more empowered in their decision-making . Give a comparison between organizations who actually do so for their employees as compared to those who state as such but are heedless concerning it’s implementation.

Task 8: Research a major international or national level issues facing a business and discuss the how ethical that business is.

Task 9: Based on your findings on Task 8, comment on what actions you recommend in order that the company behaves more ethically, morally and fairly in the future.

Task 10: Generate a code of business ethics for a company.