Organisational Behaviour and Human Resource Management BEM2004 Essay

Organisational Behaviour and Human Resource Management BEM2004 - Essay Example It makes every effort to ensure that its products are preferred by consumers and that its public relations are accomplished without difficulties. Ethical business practice prolongs the life of an organization and promotes consumer satisfaction among other stakeholders. This paper evaluates whether business ethics is an oxymoron justifying the arguments through ethical theories that include; virtue ethics, deontology, utilitarianism and Marxism. Business Ethics Businesses are compelled to remain flexible due to the inconsistency of the contemporary operating environments. Each competitor strives to acquire a greater market share than other players, which sometimes leads to negligence in regard to corporate ethics. Various situations require to be dealt with differently and sometimes managers are perplexed regarding what business ethics necessitates in certain circumstances. In some instances, acting morally may be costly or may be hindered by obstacles. For these reasons, Velasquez (2 002) observes that referring to ‘business ethics’ as an oxymoron precisely identifies ethics as a challenge. On the other hand, as presented in the definition of ethics, if an organization is to remain ethical in its operations, it has to observe the laid out values and principles. In other words, no matter how pressing the situation is, ethical values have to be adhered to for business ethics to be accomplished. In essence, many organizations avoid being perfectionists in business ethics even though they insist on ethical standards when dealing with stakeholders. This makes them escape the unintentional negative consequences of fanatical business ethics (DesJardins, 2008). Various ethical theories portray business ethics as an oxymoron. For example, virtue ethics is a theory that sheds light on the boundary between balanced decision making and unethical behavior in business (West, 2003). Sometimes financial managers are faced with the dilemma of determining the appropr iate step to take when the business is faced with challenges, yet the set business values have to be adhered to. The right decision that may save a company from collapsing may be regarded as unethical in a different perspective if the common values are not observed. Rather than being restricted to a set of conceptual rules, a manager maintains his/her professional role and appraises an ethically thought-provoking decision within that role. In other words, he/she is not bound by what is believed to be ethical while acting for the good of the organization (Maximiano, 2003). For instance, the finance director in a company X realizes that the organization will incur losses owing to an abrupt change in exchange rates. The company maintains corporate social responsibility and runs a philanthropic community program which is among its core values that costs 10% of its proceeds. The manager is faced with the dilemma of suspending the program to minimize the company’s expenditure or to retain the program. The first alternative will lead him to disregard the company’s ethical values. However, as a professional, his work is to ensure that the company does not incur a loss. The manager has to make an ethically charged decision and suspend the program until the operating environment regains normalcy. According to virtue ethics, he will be regarded as a good manager due to his intelligence that helps in maintaining efficiency and profitability, while on the other hand he is