Business Ethics
There have been various cases of business ethic being a major consternation in diverse business organizations. Over the past few years these issues have been common in business firms for example, Enron, Arthur Anderson, and Exxon. In cases where business ethics are involved, the organization is exposed to collapse due to the weight of public demands or the intervention of the government forces (De, George R. T. Business Ethics 34). Experts are conducting research in firms that have ethical standards implicated in them to get the reason as to why these firms outdo other of their own level.
However, there is the occurrence of ethical dilemma when two or more firms are involved in a conflict. This is common when the firms encounter decisions that require a certain value to succeed at the expense of the other. Business ethic comprises of decision-making aspects that comply with the legal policy and the maximization proceeds. There are certain limitations of behaviors expected in the corporate world based on the levels of the positivity and negativities (Smith, Adam, Edwin Cannan, and Max Lerner. An Inquiry into the Nature and Causes of the Wealth of Nations 43). These are attributes that each business firm is expected to provide with the perspective and information they receive leading to the making of better decisions.
Nations advanced to the skill and judgments have the application of labor indulged in diverse policies in the general conduct and direction. These strategies do not favor the value of the produce equally. The policy of some nations has distinct perception based on the development of similar industries in the country (De, George R. T. Business Ethics 49). The results of labor division depend on the general business of societies implemented easily through the consideration of the quality of particular industries.
John Stuart Mills uses this chapter to talk deeply about the economy in relation to the structure of a country. He goes on to studying the needs of the people and how the role of economics in measurement and accessibility. He shows his stand on economics when he mentions superiority of socialism whereby the workers owning the big cooperatives commands most parts of economic production. Even though human beings may not be having hands on the origin of most products, as considered in the natural laws, they have the whole command on of distribution process. This implies that most people exercise their efforts in labor with the main reason of getting wealthier at the end with the wealth distribution relying majorly on their willingness. General look at the book makes an individual understand that Mill believes on the social philosophy and politics (Mill, 1106). Mill also talks about the power of the consumers to determine the use of any product since they are the target of any firm operating in any industry.
Apart from power of human beings, Mills also talks about the effects of free competition in the society. Individuals should be responsible for their own actions without considering the others something, which could increase their production. The government would only be able to achieve proper operation when they provide education to the member of the society. Most people in the society always end up not acquiring education because of the fear of the involved costs; hence, the involvement of the government will contribute in increasing the number of skilled individuals. Stuart Mills states, “Education is one of those things which it is admissible in principle that a government should for the people” (p.1105).
Work Cited
De, George R. T. Business Ethics. New York: Macmillan Pub. Co, 1982. Print.
Moon, Chris. Business Ethics. London: Economist, 2001. Internet resource.
Smith, Adam, Edwin Cannan, and Max Lerner. An Inquiry into the Nature and Causes of the Wealth of Nations. New York: The Modern library, 1937. Print.
Mills, Stuarts. The principles of political economy. 1848. Print.
