Answered Essay: What are the major sources of ethical values in business? Explain each of the following in your response

What are the major sources of ethical values in business? Explain each of the following in your response: the religion issue, the philosophical issues, and the cultural experience.

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Expert Answer

Ethical conduct is handling actual or apparent conflicts between personal and professional relationship in accordance to socially acceptable values.

The major sources of the organizational ethical values are,

  1. Religion: Religion gives ethical values derived out of the scripts, literature and other religious documents. For example, it is unethical to drive out interest on money given to others. This creates issue when people of different culture work together and hold different ethical values.
  1. Philosophy: These are the values derived from what is being practiced from ages. For example standard of conduct derived from Greek civilization. This also creates conflict and mostly biased by the view of the person deriving the values. Some value Socrates, some Plato etc.
  1. Cultural experience: Civilizations and culture give inculcate values in individuals. Individual carry these values to organizations and channel these values in organization through their conduct.

 

  1. Law: Legal system also defines ethical values that a business is required to follows. However, changes with each state and location creates problem for business working in international environment.
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