Business Ethics and Rules Essay

Personally, I agree that Solomons ethical rudiments are a swell moral foundation for a bloodline. caper ethics is the study of what constitutes right and wrong (or good and bad) human apportion in a business context. (p25) From the lecture, we know that ethics matters because how organizations be take on have important implications for how they fulfill their social and economic roles and their success as hearty as the success of their employees, customers, etc. Thus, running a business ethically is good for business. Applying Solomons three Cs of business ethics and the eight rules of mentation ethics in business make good sense.The three Cs of business ethics include compliance, contri scarcelyions and consequences. The first gear C is the need for compliance with the rules, including the laws of the landand such general concerns as fairness. (p36) As a saying goes, Nothing can be utter(a) without norms or standards. Rules in business are intended to assert business st ructure or to control or influence the behavior of the business. permits take EU-Rent for example. EU-Rent is a car rental club give by EU-Corporation. EU-Rent sets up rules about rentals, returns, servicing and customers.For example, EU-Rent keeps records of customers, their rentals, and bad experiences. This information is use to decide whether to approve a rental. If EU-Rent doesnt comply with these rules, it may non organize well. The second C is the contri stillions business can make to society, by dint of the values and quality of peerlesss products or servicesand receipts of integritys activities to the surrounding community. (p36) For instance, economists conventionally assume that organizations primary goal is to maximize profits. Many successful organizations are piecemeal aware of the important relationship between profits and contri butions to society.Starbucks has seen its profits rebel as it has increased its investment in social issues. Those organizations who are do profits and dont contribute to society may nonplus criticism from the man. As the article The Sichuan Earthquake and the Changing Landscape of CSR in China, which was written by Ariel McGinnis, James Pellegrin, Yin Shum, Jason Teo, and Judy Wu (University of Pennsylvania), mentioned, In the days and weeks pastime the Sichuan earthquake, numerous multinational partnerships(MNCs) pursued a global CSR (corporate social responsibility) indemnity in line with their international standard.While some multinationals pledged cash, many opposites pledged a combination of cash, equipment and services. Domestic firms, by all accounts, out-donated multinationalsThe pop perception was that international firms relief contributions not only did not accommodate those of local Chinese companies in terms of scale or timeliness, but likewise were not commensurate with their presence in the Chinese market. Chinese consumers quickly seized upon this disparity by openly attacking m ajor MNCs, avocation for a boycott of their products The Chinese public soon gave these affected MNCs the call of international iron roosters. The term refers to a bird that never gives up a single feather, and its usage highlights the perceived stinginess of these international firmsDespite their superfluous donations, iron-rooster MNCs continued to face angry consumers throughout China, resulting in severe public backlash, including protests at several McDonalds and blockades at KFCs throughout Sichuan province and the lodge in of China. From this example, we can see how important the contributions that organizations should make to the society are.The third C is the consequence of business activityincluding the reputation of ones own company and industry (p36) Why the consequences of business activity are so important? Lets have a look at the following example. Once, Sanlu was one of the oldest and most popular brands of infant formula in China. It went into bankruptcy after the Sanlu milk scandal. Based on the media, By November 2008 China reported an estimated 300,000 victims, six infants dying from kidney stones and other kidney damage, and a hike up 860 babies hospitalized. Since the Sanlu Group didnt solve the problem and recall the products in time, it guide to a horrible incident. Doubtlessly, what did organizations do may affect their development and scour the well-being of the public. Organizations should not blindly pursue for profits only but similarly be responsive to society. To become successful, a business require to be driven by strong ethical values. If a corporation fails to adopt ethical values and cannot be responsive to society, it will fail, and like the Sanlu Group.Besides the three Cs of business ethics, Solomon also stated the eight rules of thinking ethics in business, which are also good moral foundations for a business. The eight rules include consider other peoples well-being, including the well-being of nonparticipan ts think as a fragment of the business community and not as an isolated individual obey, but do not depend solely on, the law think of yourselfand your companyas part of society obey moral rules think objectively ask the question What sort of person would do such a thing? and respect the customs of others, but not at the expenditure of your own ethics. (p40, 41) Based on the above statements, it is obvious to see that they are mainly about the concept of three Cs. According to the text, thinking ethically means thinking in terms of compliance with the rules, unsaid as well as explicit, thinking in terms of the contributions one can make as well as ones own possible gains, thinking in terms of avoiding harmful consequences to others as well as to oneself. (p40) In the case of Sanlu milk scandal, one of the main reasons behind