Introduction
Business ethics is crucial in how companies make decisions and behave in today's fast-
paced and ever-changing global business environment. This discussion will explore two
specific issues in business ethics and how a course I took has reshaped my thoughts on
them. It will also highlight unexpected insights I gained, how I apply this new knowledge in
my work life, and how ethical behavior can enhance a company's position from a human
resources point of view.
Ethical Issues in Business
In my course, we covered several key topics, including corporate social responsibility (CSR).
CSR involves a company's commitment to act in ways beneficial to society and the
environment. Many believe companies should operate following moral and social values, not
just focus on profits (Lichtenstein et al. 2004). Through this course, I realised CSR is not just
about charity; it is a moral obligation for businesses to positively impact society. My previous
belief that making money was the main goal has shifted. I now understand it is essential to
consider how business actions affect employees, customers, communities, and the
environment. In this case, businesses and customers can team up to promote sustainable
development. They can involve customers in designing and choosing more sustainable
products, which helps the environment. It is also important to educate and raise awareness
among customers and alongside them. By working together on projects that support
sustainable practices, businesses and consumers can make a bigger impact on developing
a more sustainable future (Crane & Matten, 2016).
We also explored ethical leadership. Today, a leader's respect and ability to influence others
rely heavily on their ethical conduct (Brown et al. 2005, Piccolo et al. 2010). Ethical
leadership involves demonstrating moral behavior, responsibility, setting a positive example,
and making decisions based on ethical principles. Ethical leaders focus on integrity,
responsibility, empathy, transparency, and fairness, creating a culture of trust and
accountability within their organisations. Organisations that embrace ethical leadership can
build trust, foster a positive work culture, and achieve long-term success. This newfound
understanding made me re-evaluate my leadership style and how much I incorporate ethics
into my decision-making.
Unexpected Learning Outcomes
During this course, several surprises broadened my understanding of business ethics. A
significant realisation was recognizing the strong connection between ethical behavior and
business success. Organisations can take a strategic approach to ethics, integrating it into
their operations. Organisations that prioritise ethics have a competitive advantage in the
market. I once thought ethics were merely a duty without affecting profits.
However, I have learned ethical practices can enhance a company's reputation, attract
talented employees, and build customer loyalty, leading to long-term success. I also gained
insight into decision-making frameworks like utilitarian and deontological approaches, which
help evaluate the outcomes and ethics of business actions. The utilitarian approach would
suggest that a decision is ethical if it maximizes overall happiness or well-being (Bentham,
1789, Mill, 1861). In contrast, the deontological approach would emphasize the importance
of adhering to moral rules and duties, regardless of the consequences (Kant, 1785). This
knowledge has given me a more structured way to approach ethical dilemmas, considering
different perspectives to make informed choices.
Application in Professional Life
The knowledge from this course has practical applications in my career. I realised ethical
leadership's importance in cultivating a positive work environment. As I advance, I will strive
to demonstrate ethical leadership by being honest, fair, and encouraging open
communication within my team to foster a positive work environment. By fostering such a
culture, I hope to inspire others to act ethically. Moreover, I will incorporate CSR principles
into my decision-making process for long term organisational success and societal well-
being. Instead of focusing solely on short-term gains, I will consider the broader effects of my
actions on stakeholders and the environment. Embracing CSR in my career could contribute
to sustainable organisational and societal growth.
Improving Marketplace Position from an HR Perspective
From a human resources perspective, ethical behavior can greatly improve a company's
position in the market. Business and Human Resources leaders can lead by example,
creating policies that discourage unethical practices and enhance competitiveness (Vickers,
2005). For instance, ethical companies attract and retain top talent, as more employees seek
organisations with strong values. Employees who work for a morally upright company tend to
be more engaged and committed. The companies also invest in employee training and
development to enhance skills and performance on ethics and compliance. This leads to
increased productivity, lower turnover, and a healthier work environment. Acting ethically
boosts a company's reputation among customers and important partners. Today, people pay
more attention to how the companies they buy from behave. By being ethical, companies
can earn the trust and loyalty of their customers, giving them a competitive advantage.
Ethical behavior also strengthens relationships with suppliers, partners, and investors,
leading to more successful collaborations and long-term prosperity.
Conclusion
To sum up, this business ethics course has had a big impact on how I view ethical
leadership and corporate social responsibility (CSR). I now have a better understanding of
the close connection between moral conduct and business success. By exhibiting moral
principles and cultivating a positive work atmosphere, I can begin implementing the ethical
leadership principles in my career. Additionally, I will be able to support organizations'
sustainable development by integrating CSR principles into my decision-making. From the
perspective of human resources, a business can attract top talent and gain the trust of
stakeholders and customers by acting ethically. By adopting business ethics, companies can
pave the way for a sustainable and socially responsible future.
References
Bentham, J. (1789). An Introduction to the Principles of Morals and Legislation.
Brown ME, Treviño LK, Harrison DA. (2005). Ethical leadership: a social learning
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Crane, A., & Matten, D. (2016). Business ethics: Managing corporate citizenship and
sustainability in the age of globalization. Oxford University Press.
Kant, I. (1785). Grounding for the Metaphysics of Morals.
Lichtenstein, D.R., Drumwright, M.E., and Braig, B.M. (2004). The effect of corporate social
responsibility on customer donations to corporate-supported nonprofits. Journal of
Marketing, 68(4), 16-32.
Mill, J. S. (1861). Utilitarianism.
Piccolo R, Greenbaum R, Den Hartog DN, Folger R. (2010). Task significance and job
autonomy as motivational mechanisms in the ethical leadership process. J. Organ. Behav.
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Vickers R. Mark (2005). Business ethics and the HR role: past, present, and future. Human
Resource Planning (Vol. 28, Issue 1)