Your own definition - Business Ethics

[cirext]

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Why don't we start with the definition of ethics? What is ethics?

Morality is what we know as the good or bad, or the right or wrong. We build our own moral values through experience, from family, friends, community, activities and etc. Ethics is examining the moral issues brought about an event by comparing it with all conflicting interests within that issue. It puts morality to the test.

Business Ethics is simply applying ethics into business aspect.

Example:
Company A fires out a considerable amount of hard working and loyal employees. The company explained to their employees that the company has been incurring an increasing expense with very little return over the years. As a means to keep the company afloat, the directors have decided to cut down expenses and maximize marketing strategy. The employees who were stripped down from their job felt they were betrayed. Employees, of course, demands and cooperate with the union to seek justice.

Now, which side do you think is correct? The company, or the employees?

The primary purpose of the owner / board of directors is to have a healthy company.. capable of giving a means of income 1st to the owner(s), secondary to the personnel it employed to help go on with the business. This is best understood if u have a business ourselves.

Stripping manpower w/ regular salaries is sometimes a necessary thing to do to cut off a bulk amount of regular/monthly company expenses.

I dont believe a businessman is foolish to eliminate labor w/o any good reason...because labor is actually the propeller of the business. Last resort nalang jud na niya, kaysa mga lunod ang tanan.

[cirext]

Correct. It is the company. But not all companies are correct by the way. It depends on the situation. I've read many company related cases where its decision really degrades an employee. Such as, the requirement of lap dance (even more) for some top level managers. Secretary to "sexetary".

As for competition, business ethics can still be applied, but it's somewhat broad. Because when companies do compete, it is primarily a case of Strategic Management. Common tool for basing this is the S.W.O.T analysis. Business ethics can still be applied but not the major influence of the decision.

NOTE: I'm only sharing my insights from what I've learned while taking my MBA class. Especially now that I'm taking up Business Ethics as one of the core subjects for this trimester.

The lap dance that u mentioned is not related to the question u polled 1st. Because the question is firing employees to help the company survive. Immoral practices is not a company practice, it is done by individuals.And it is not done to let a company survive either.

[jackyboy]

The lap dance that u mentioned is not related to the question u polled 1st. Because the question is firing employees to help the company survive. Immoral practices is not a company practice, it is done by individuals.And it is not done to let a company survive either.

It is certainly not related. I stressed that out just to give out an example that not all business ethics cases favor the company. That's why I said "It depends on the situation". Immoral practice is an unrefined word. What may be immoral to you, may be moral to all the company heads of a certain company (and this is true by the way, we've discussed many company cases like this already), and that is certainly a company case. Didn't you mention "labor is actually the propeller of the business"? Doesn't that already prove its relation to the company?