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BUSINESS ETHICS
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  1. Lets assume that, in a democratic society, business managers have an obligation to obey the law. Do they have an ethical obligation to do more than that in order to avoid damaging the environment or to promote a sustainable way of life? (15mks Business managers have an ethical obligation to do more than just obeying the law in order to avoid damaging the environment or to promote a sustainable way of life because we    stand at a critical moment in Earth's history, a time when humanity must choose its future. As the world  becomes increasingly interdependent and fragile, the future at once holds great peril and great  promise. To move forward managers and all people must recognize that in the midst of a magnificent diversity of cultures and life forms we are one human family and one Earth community with a common destiny. e must join together to bring forth a sustainable global society founded on respect for nature, universal human rights, economic justice, and a culture of peace. !t is imperative that we, the peoples of Earth, declare our responsibility to one another, to the greater community of life, and to future generations.The resilience of the community of life and the well being of humanity depend upon preserving a healthy biosphere with all its ecological systems, a rich variety of plants and animals, fertile soils, pure waters, and clean air. The global environment with its finite resources is a common concern of all peoples. The protection of Earth's vitality, diversity, and beauty is a sacred trustThe choice is ours to care for Earth and one another or ris# the destruction of ourselves and the diversity of life. $undamental changes are needed in our values, institutions, and ways of living. e must realize that when basic needs have been met, human development is primarily about  being more, not having more. e have the #nowledge and technology to provide for all and to reduce our impacts on the environment. %anagers should& (a. !espect arth and life in all its diversity.  ecognize that all beings are interdependent and every form of life has value regardless of its worth to human beings.  Affirm faith in the inherent dignity of all human beings and in the intellectual, artistic, ethical, and spiritual potential of humanity. (b. #are for the community of life with understanding, compassion, and love.  Accept that with the right to own, manage, and use natural resources comes the duty to  prevent environmental harm and to protect the rights of people.  Affirm that with increased freedom, #nowledge, and power comes increased responsibility to promote the common good.  (#. $uild democratic societies that are %ust, participatory, sustainable, and peaceful.  Ensure that communities at all levels guarantee human rights and fundamental freedoms and provide everyone an opportunity to realize his or her full potential.  (romote social and economic justice, enabling all to achieve a secure and meaningful livelihood that is ecologically responsible. (d. &ecure arth's bounty and beauty for present and future generations .  ecognize that the freedom of action of each generation is )ualified by the needs of future generations.  Transmit to future generations* values, traditions, and institutions that support the long term flourishing of Earth's human and ecological communities. n order to fulfill these four broad commitments, it is necessary to)  (rotect and restore the integrity of Earth's ecological systems, with special concern for  biological diversity and the natural processes that sustain life.  (revent harm as the best method of environmental protection and, when #nowledge is limited, apply a precautionary approach.  Adopt patterns of production, consumption, and reproduction that safeguard Earth's regenerative capacities, human rights, and community well being.  Advance the study of ecological sustainability and promote the open e+change and wide application of the #nowledge ac)uired.  Eradicate poverty as an ethical, social, and environmental imperative.  Ensure that economic activities and institutions at all levels promote human development in an e)uitable and sustainable manner.  Affirm gender e)uality and e)uity as prere)uisites to sustainable development and ensureuniversal access to education, health care, and economic opportunity.  phold the right of all, without discrimination, to a natural and social environment supportive of human dignity, bodily health, and spiritual well being, with special attention to the rights of indigenous peoples and minorities.  -trengthen democratic institutions at all levels, and provide transparency and accountability in governance, inclusive participation in decision ma#ing, and access to  justice.  !ntegrate into formal education and life long learning the #nowledge, values, and s#ills needed for a sustainable way of life.  Treat all living beings with respect and consideration.  (romote a culture of tolerance, nonviolence, and peace.  To fulfill this promise, managers re)uire a change of mind and heart. They must imaginatively develop and apply the vision of a sustainable way of life locally, nationally, regionally, and globally. Every individual, family, organization, and community has a vital role to play. The arts, sciences,religions, educational institutions, media, businesses, nongovernmental organizations, and governments are all called to offer creative leadership..Business is widely regarded as the chief culprit, with primary responsibility for the mass  production, mass mar#eting, mass consumption, and mass disposal that underlie much of this environmental degradation. E+perts in business ethics are divided as to the responsibility of business toward the environment. n the one hand are those, such as /orman Bowie, who maintain that corporations have no ethical responsibility toward the environment beyond the re)uirements of the law. nder this traditional homocentric approach, business has a responsibility to protect the environment only insofar as doing so contributes to the welfare of humanity. At the other end of the spectrum is the position adopted by . %ichael 0offman, who espouses adeeper environmentalism based on the notion that nature itself has inherent worth, independent of its value to humanity. This premise leads to the concept of business constrained by the demands of environmental conservation, and even to the notion that companies should judge their own activities in this light, restricting or abandoning them if necessary. Through an analysis of corporate responsibility toward the environment, ! e+plore the ethical crossroads where business finds itself today but it*s clear to see that business managers should have an ethical obligation to do more than just obeying the law in order to avoid damaging the environment or to promote a sustainable way of life  *. Do business people have a moral responsibility to be honest with customers (and to avoid manipulating them, even when doing so may reduce their company+s profits? hy or hy not? (15mks   0onesty is the foundation for successful long term relationships in business. This is especially true in the early 12st century, when customers can spread word )uic#ly if you act with dishonesty. Along with telling the truth in your business relationships, openly disclosing important news, financial information and other data useful to your sta#eholders is important to long term success. ne should be always honest with customers about the services and products they are offering and also their prices. Typically, it ta#es just one lie or failure to share pertinent information to damage or ruin business relationships.3ong term relationships have become critical to the success of customer driven business. The cost of ac)uiring customers ma#es retaining these relationships vital to your success. Treating your business customers with honesty contributes to strength and longevity in your business relationships.$or most businessmen, when things start to go wrong in the business, and everything is not running the way it should be, it is almost instinctive to #eep their customers in the dar#. The common misconception is when you come clean with your customers& they might thin# of the glitches as signs of wea#nesses and opt to go somewhere else. !n actuality, this is really not the case. 4ustomers really appreciate honesty, and more often than not, businesses that remain honest are rewarded for it. 0ere are 5 e+cellent reasons why business people should stay honest with their customers and this will lead to more profits& (i. -onesty creates trust. hen you are honest with your customers, you immediately begin to create a relationship of trust with them. -o many people appreciate businesses for telling it li#e it is. The rapport that youestablish with your customers in this instance will do well to secure future relationships. f course, customers will always want to go bac# to the business that they trust. They will feel li#e you are not misleading them, or are just out there to ma#e a profit off them6 The more the customers the more profits you ma#e. (ii. ord of your honesty is bound to get around. 7ou may not #now it, but your customers can be your best source for advertisement. hen you have an honest e+perience with your customer, it becomes meaningful for them too. /aturally, they will tell their friends and family about it. This is actually the highest form of recommendation a positive e+perience and can definitely bring in more customers hence more  profits.
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