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Business and Integrity: Overview. Arguments that business ethics is an oxymoron. Role of Ethics in successful organizations. Is “Business Ethics an Oxymoron?”. Yes, because the business environment is cutthroat and self defense requires doing whatever it takes.
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Business and Integrity: Overview Arguments that business ethics is an oxymoron. Role of Ethics in successful organizations.
Is “Business Ethics an Oxymoron?” • Yes, because the business environment is cutthroat and self defense requires doing whatever it takes. • Response: Social Contract theory • Yes, because the responsibility is to create profit for shareholders. • Response: There are other stakeholders.
Why Business Needs Ethics • Without ethics, business operates in a state of nature. • In a state of nature, people experience a “war of all against all [where]…life is solitary, nasty, brutish and short.” (Hobbes) • Prudent for business to adopt a social contract.
Business Needs Ethics • Public relations aspect • Importance of reputation for integrity. • Success depends on integrity of members. • If unethical behavior is encouraged, organization, as well as customers and others, is at risk. • Capitalism requires ethics. • Trust, promise keeping is the foundation of a market economy.
