Why Study Ethics?

Our laws have sought to promote “and enforce a sense of morality in the business community. Well-settled laws regulating fraud, undue influence, fiduciary relationships, confidential information, truth-in-advertising, fair reporting practices, etc., have their origins in moral codes and philosophies.” Professor Dan Herron has observed that, “managerial ethics and corporate social responsibility is an aspect of business functions which should not nor cannot be studied in isolation. Any course which deals with business decision-making, whether it be from personnel problems to marketing decisions to corporate strategy formation must incorporate the ethical/social component as an integral facet of the decision-making process itself. A productive approach to the study of ethics focuses on “the origins, justifications, and applications of morality in the market place by analyzing the concepts and applying them in real-life situations.” This can be examined from two perspectives: the manager/employee as a decision-maker; and the corporation as a moral agent.” In the pages to follow, we present an overview of the various ways ethics impact our everyday lives. The authors believe this article contributes to a discussion about ethics and exploration of how these issues may be considered deserves everyone’s attention. The history of business illustrates that ethical failures often result in widespread suffering and economic destruction. We hope you find this article thought provoking