Different Viewpoints of Business Ethics

Introduction The purpose of this short paper is to compare and contrast three different peer-reviewed journal articles and online journals. First of all, this article briefly introduces these four articles. Next, this article compares and contrasts these four articles. Finally, the author showed his own views on social responsibility and corporate ethics before finishing the paper. All four articles in the four articles focus on business ethics. Of the four articles, three are academically refereed journal articles, and one of Friedman is an online journal.

The importance of business ethics in business is discussed from various viewpoints. The view of many administrators is that the ethics program is often very expensive and brings only social benefits. However, recent analysis shows that ethical companies well-known to stakeholders can enjoy higher operational efficiency, higher customer loyalty and retention rates, and the company's primary goal of financial performance It is shown (Ferrell, 2004). Over the years, many scholars have studied the relationship between profitability and ethics. One study summarized 52 research projects to study the correlation between profit and ethics (Donaldson, 2003). Among 52 studies, 33 cases showed positive correlation, only 5 showed negative correlation; the other 14 reported that there was no effect for no effect. The survey done here shows that there is no doubt that there is a positive relationship between these two variables.

Different schools of thought differ in the role of ethics or morals in the development of human resources. In the business, a group of leaders who believe that the market manages the interests of the organization and these benefits are met by people, the latter is the highest risk. They believe that unless there is agreement, standards and procedures, the market needs profits under the stakeholder's name. They will grow to the devil's exclusive market and destroy human capital.

Business ethics is an important topic when companies decide to expand internationally. Corporate ethics varies greatly depending on the country and industry. Some companies strive to be the gold standard for business ethics in their industry but others do the minimum required by law. As companies become global, companies have to develop national and international policies and practices of business ethics. When a company enters abroad it often finds that illegal or at least unpopular business practices in that country are usually permitted or informally permitted. For example, in many countries in Latin America, bribery and kickback are part of the business' daily work. In some Asian countries insider trading is not a crime