Business and Ethical Decisions
This issue we are discussing today involves two managerial employees whom have recently been fired by International Industries for their actions of accepting money to influence their purchasing decision from a representative of one of International’s suppliers. I have been asked, as Vice President of Risk Management, to research not only the facts behind their dismissal but also how our corporate policies have been defined and what is the encompassing framework that may have an impact to our firm’s risk management in our marketplace related to the subject of bribery by representatives of our firm.
I would first like to review the current research on the meaning of ethics and summarize the schools of thought on this subject then relate how ethical decisions may impact our policies in our firm.
Ethics In business – Its Meaning
First, I would like to present a definition of ethics. “A set of moral principles or values that governs the conduct of an individual or group” (Cheeseman, 2007). If you were to draw to overlapping circles one circle being the Rule of Law and the other Ethics or moral principles various society’s or cultures would have different percentages of overlap between the two. In our western society of the United States the dilemma becomes an issue when we find ourselves being allowed to do something within the law however ones ethical standards and moral choices are contrary to the rule of law. This dilemma in making sound decisions is where we find ourselves working or attempting to make business decisions outside of the overlap of the Rule of Law and Ethical Standards. Further, this dilemma takes on another perspective when we find a westerner bound by the confines of US law is working within the international environment where different cultures and thus different legal as well as ethical boundaries may come into existence. Under the rule of law a minimum degree of conduct expected by...