Business Ethics Reflection Essay

Reflecting back on my 1st log entry, my original preconception of business ethics is not so much different to the meaning of business ethics as used by organisations. I have come to realise that business ethics is the decisive, planned assessment of how people should behave in the business world which in all fairness is the same as how I thought ethics was, that is, doing good to others making sure that I do not hurt them. This same principle is consistent with that of the principle of philosophy and ethics which greatly intrigue me. As a business science student I have come to understand that in the modern business world everything revolves around business ethics. Therefore my business ethics course has helped me understand the strategies and steps taken by organizations in dealing with dilemmas that require to be solved on the principle of ethics.
I have also understood that dilemmas solved ethically result in business environments that are serene, capable of sustaining its stakeholders, and capable of attaining maximum wealth generation. Furthermore, what has really mystified me is the sense that there is no difference between business ethics and ethics as both terms mean one thing and deal with issues pertaining individuals as opposed to the company. However, exceptions to this notion is where business people deal with business issues such as unsafe products (Toyota), financial scandals (Enron), environmental damage (Exxon Valdez) among others in accordance to ethical guidelines to come up with accepted solutions which form what is referred to as “business ethics.”
In my course of business ethics I have learned that several theories govern the decision whether a matter is ethical or not. The theories of utilitarianism and Kant are at the fore front all stating that decision should be based on the benefit of the majority or to the benefit of a personal good respectively. I have acknowledged that these ethical theories could be effectively used to help out in coming up with guidelines of how people should behave in the work place. However, this is not the case in most business environments as many people base their decisions on personal perspectives, cultural backgrounds, and experience. This scenario is because of the hard task it is, to identify and characterise ethical issues with respect to specific contexts and circumstances.
Fortunately with the help from the lecturer and discussions on ethical issues with my classmates, coming up with a fair and reasonable decision when it comes to ethical issues is possible. It is therefore imperative that when dealing with ethical dilemmas, the view points of those people that will be affected by the decision be put into consideration so that vagueness is avoided. I have greatly learned that considering a variety of ethical issues and dilemmas from different perspectives would help me a lot in coming up with distinct ethical decisions.
In the course I have analysed the case study of “The Impact of the BP Gulf of Mexico Oil Spill” where BP has been stamped unethical and has gone to near bankruptcy in compensating for the accident. I have also analysed UN’s ethical decision of giving military back up to civilians in Libya terming Gaddaffi’s decision to invade his civilian opponents as unethical and should be removed from power. The BP case and Gaddafi case has raised my own personal awareness about organisations using dirty tricks which has raised alarm in the global scene resulting in them being compelled to be more ethical. The BP case study resulted in BP paying for the accident while the Libya case resulted in both supporters and opponents of Gaddafi being killed. Therefore ethical theories are essential in coming up with decisions on dilemmas that would prove beneficial in saving of lives and the environment.
My knowledge on cultural ethics also increased tremendously where I came to understand that ethics and morals vary in different cultures. Diversity in culture and morals challenge business ethics where personal, social, or religious beliefs clash with the dominant culture of the work place or society. I also realised that morality is not universal rather relative which ultimately forces me to recognise that it is not right to consider my own cultural morals superior to others. After doing the log entry 3, I realised that utilitarianism approach was the more logical avenue of solving an ethical dilemma that involved me saving my relationship with my friend or to lose my job.
Lessons about ethical theories have expanded my knowledge on: significance of rights and justice; significance of culture and morality; and the benefits of actions and motives that result in benefiting the greater number of individuals in a society. This has enabled me analyse and understand ethical issues in business environments. The limit of ethical theories is that it is not decisive in terms of wrong or right depending on the situation at that instance; either for the benefit of society or for an individual. I have also learned that business is not a fiscal entity, but rather a part of the society which should put the interests of its critical stakeholders at heart. Even though, my perception of business ethics has not changed significantly when I completed the course, I believe that my future experience on business ethics would surely change into a different perspective than what it is now.