Ethical: Business Ethics and Anglo American
1. What are business ethics? Give two examples of business practices that stakeholders would regard as ethical and two that might be considered unethical. Business ethics are the behaviours that any given business holds on to in its operations with either common or corporate world. In essence, the ethics may be dissimilar regarding the nature of the business activity one is engaged in. however, business ethics not only apply to how a business is engaged with the greater community but also how it relates with clients on one-on-one basis.The prose on business ethics is separated on its observations regarding the motivation and rationale for businesses activity to have a principled aspect. As Ulrich (2008) argued, there are two foremost opinions, to begin with individuals who advocate that businesses are income generating bodies and for that reason business ethics is yet an additional system to magnetize customers, secondly individuals who support shared conscience and inherent impetus for the espousal of business ethics. In essence, business ethics are typically utilized according to ethical concepts and judgements (Hartman 2004; Berle 1932). Hence, from such an observation, ethical issues range from practical approach, to loosely defined aspects which may include a corporation’s obligation to be responsible with its clients including such common and philosophical aspects as guarding employee’s rights as well as preserving the surrounding environment. Therefore, the scope of business ethics rests within the scope of examining the diverse issues or problems that may arise from the business environment as well as the way the workers, administration including the corporation itself can respond to them ethically. Some of the business practices which can be regarded as unethical may include, fraud, insider trading, as well as bribery and discrimination (Harwood 1996; Werhane 1997). Equally, such ethical aspects as, corporate social responsibility
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