RESEARCH METHODS

Ethical Issues in Business Transactions

Ethical Issues in Business Transactions

Introduction

The business ethics occupies a peculiar position in the field of 'Applied ethics'. Like their counterparts in professions such as medicine and law, is unsafe application of some very general ethical principles (the "duty" or "utility", for example) crisis situations and specific and often unique. But unlike those, business ethics is interested in a field of human enterprise most of whose practitioners do not have status professional and gently express reasons which are not usually considered very noble. Often cited the "greed" (formerly called "greed") as the only motive for the life of the business, and therefore the history of business ethics is not very flattering to them. In a sense, we can trace the history of medieval and ancient times when, regardless of attacks on businesses from philosophy and religion, thinkers' practical and Cicero paid great attention to the issue of equity in ordinary commercial transactions. But also for much of this history, the focus was almost completely in these particular transactions, permeating this field of a strong sense of the ad hoc unphilosophical practice, supposedly used to be rejected as 'casuistry' (Hoffman et al, 1994, pp. 34). Thus, the subject of business ethics in its current meaning no has more than a decade. Just ten years ago, the matter was even a crude amalgam of a routine examination of ethical theories of a few general considerations about the fairness of capitalism, and some businesses and prototypical cases, most of them misfortunes, scandals and disasters that face showed more scary and irresponsible business. The ethics of business was a matter devoid of credentials in the whole philosophy 'main', without a conceptual level itself. He had excessively oriented practice, even for the 'applied ethics', and a philosophical world captivated by worldly ideas and worlds merely "possible" business ethics was too interested in the everyday currency of exchange: money.

Research Question

What ethical issues should be considered by the business managers while making business transactions that can make the business process more transparent and effective?

Literature Review

Ethical codes leave a positive effect on the organization. Ethical codes are a reflection on the unwritten rules of morality and decency which we and our fellow human beings bound to consider. Organizational ethics is not simply an ethic of people who happen to work in an organization but a set of principles, values and behavior guidelines for holders of positions in organizations where their actions identity, image and becomes the responsibility of that organization (McCall, 2009, pp. 67). Ethical codes in the principles of the economic order - liberty, property, equality and security in mind, within this monetary policy are four factors of production: land (environment), capital, labor and information. The question now is how, within the given order and the available production factors in a fair way business got conducted.

Ethical Issues and Their Importance

In today's business environment, the companies are normally committed to the pursuing ethical behaviour in the conduct of commercial activities and observance of the ...