6: Business Ethics
Cooperate The belief that an organisation has ethical responsibilities both in its own conduct and
Social that of the wider community. This moral requirement applies both to individuals and the
Responsibility company as a whole
Stakeholder Any individual or group affected by the activities of an organisation e.g. suppliers,
employers, stakeholders, customers and the wider community/environment
A Blueprint for Human dignity - people are valuable by virtue of their being human, not because of their
Better usefulness
Business The Common Good - A state of affairs in which everyone can flourish more effectively,
(Cardinal Moving beyond profit to an end to the good of people
Vincent Solidarity - people are interdependent, needing each other and responsible for each
Nichols') 7 other
Principles for Subsidiarity - the belief that decisions should be made at the lowest level compatible with
Good efficiency
Business Fraternity - 'brotherhood' of man. We should treat everyone from all different cultures as
our brothers. The idea of building relationships on truth and honesty
Reciprocity - giving to everyone what is due and being willing to do more than strict
justice requires. Showing charity and generosity to one another
Sustainability - the belief that we are responsible for maintaining the earth and its
resources for ourselves and future generations
Blueprint for "Blueprint for Better Business challenges companies to be a force for good and
Better contribute to a better society. Such a system is fundamentally about delivering a basic
Business social contract comprised of relative equality of outcomes; equality of opportunity; and
fairness across generations. Blueprint's Five Principles provide guidance for businesses and
reflect the foundations needed for responsible business: honesty and fairness; good
citizenship; responsible employment; guardians for future generations; and a purposeful
business that delivers long-term sustainable performance."
Mark Carney, Governor of the Bank of England, July 2018
Blueprint for Honest and fair with customers and suppliers; a good citizen (seeks to provide access to
Better opportunities for less privileged, pays all taxes, considers each person affected by its
Business - decision as if they were a member of each decision maker's own community); a
Five Principles responsible and responsive employer (treats everyone with dignity, welcomes
of Business constructive dialogue, encourages people to learn, contribute and thrive); a purpose
which delivers long-term sustainable performance (operates true to a purpose that
serves society, respects the dignity of people, enables and welcomes public scrutiny of
the alignment between stated purpose and actual performance); a guardian for future
generations (honours its duty to protect the natural world and conserve finite resources,
benefits society rather than protecting self-interests)
Bible quote 'the love of money is the root of all evil'
about money
Ethical Ethical companies are more likely t prosper. A company known for its integrity can
companies charge higher prices. An honest organisation can negotiate better terms and get credit
more easily. Honest and fair treatment builds trust and confidence between employers
and employees. Businesses require a stable and reliable workforce who share the goals
of the company. It reduces strikes and walkouts
Peter Singer Believed that a poor person in a poor land is just as capable of suffering as I am and is
worthy of equal considerations. You cannot priorities your pleasure in profit and cheep
goods over the suffering he feels
Whistle- The process of drawing attention to the immoral or illegal actions of your organisation or
Blowing business. Often employees do not report things out of fear or out of a feeling that it is not
their place to say anything. People don't like to feel disloyal. Loyalty is a virtue, it matters
for building trust and good relationships. However, it would seem misplaced loyalty if we
were loyal to corruption. When you join a business you sign a contract which sets out
certain duties and responsibilities that employer and employee have towards one
another. Beyond the actual words of the contract, there are implied terms - the
assumption of honesty and truth. People should have wider loyalties - moral values and
to the wider community
Hannah She noted that in totalitarian regimes, individuals think they can make no difference so
Arendt they concentrate on doing their own work and say nothing about the evils around them.
(whistle- This is called group think and in this way things can go very wrong
blowing)
Cooperate The belief that an organisation has ethical responsibilities both in its own conduct and
Social that of the wider community. This moral requirement applies both to individuals and the
Responsibility company as a whole
Stakeholder Any individual or group affected by the activities of an organisation e.g. suppliers,
employers, stakeholders, customers and the wider community/environment
A Blueprint for Human dignity - people are valuable by virtue of their being human, not because of their
Better usefulness
Business The Common Good - A state of affairs in which everyone can flourish more effectively,
(Cardinal Moving beyond profit to an end to the good of people
Vincent Solidarity - people are interdependent, needing each other and responsible for each
Nichols') 7 other
Principles for Subsidiarity - the belief that decisions should be made at the lowest level compatible with
Good efficiency
Business Fraternity - 'brotherhood' of man. We should treat everyone from all different cultures as
our brothers. The idea of building relationships on truth and honesty
Reciprocity - giving to everyone what is due and being willing to do more than strict
justice requires. Showing charity and generosity to one another
Sustainability - the belief that we are responsible for maintaining the earth and its
resources for ourselves and future generations
Blueprint for "Blueprint for Better Business challenges companies to be a force for good and
Better contribute to a better society. Such a system is fundamentally about delivering a basic
Business social contract comprised of relative equality of outcomes; equality of opportunity; and
fairness across generations. Blueprint's Five Principles provide guidance for businesses and
reflect the foundations needed for responsible business: honesty and fairness; good
citizenship; responsible employment; guardians for future generations; and a purposeful
business that delivers long-term sustainable performance."
Mark Carney, Governor of the Bank of England, July 2018
Blueprint for Honest and fair with customers and suppliers; a good citizen (seeks to provide access to
Better opportunities for less privileged, pays all taxes, considers each person affected by its
Business - decision as if they were a member of each decision maker's own community); a
Five Principles responsible and responsive employer (treats everyone with dignity, welcomes
of Business constructive dialogue, encourages people to learn, contribute and thrive); a purpose
which delivers long-term sustainable performance (operates true to a purpose that
serves society, respects the dignity of people, enables and welcomes public scrutiny of
the alignment between stated purpose and actual performance); a guardian for future
generations (honours its duty to protect the natural world and conserve finite resources,
benefits society rather than protecting self-interests)
Bible quote 'the love of money is the root of all evil'
about money
Ethical Ethical companies are more likely t prosper. A company known for its integrity can
companies charge higher prices. An honest organisation can negotiate better terms and get credit
more easily. Honest and fair treatment builds trust and confidence between employers
and employees. Businesses require a stable and reliable workforce who share the goals
of the company. It reduces strikes and walkouts
Peter Singer Believed that a poor person in a poor land is just as capable of suffering as I am and is
worthy of equal considerations. You cannot priorities your pleasure in profit and cheep
goods over the suffering he feels
Whistle- The process of drawing attention to the immoral or illegal actions of your organisation or
Blowing business. Often employees do not report things out of fear or out of a feeling that it is not
their place to say anything. People don't like to feel disloyal. Loyalty is a virtue, it matters
for building trust and good relationships. However, it would seem misplaced loyalty if we
were loyal to corruption. When you join a business you sign a contract which sets out
certain duties and responsibilities that employer and employee have towards one
another. Beyond the actual words of the contract, there are implied terms - the
assumption of honesty and truth. People should have wider loyalties - moral values and
to the wider community
Hannah She noted that in totalitarian regimes, individuals think they can make no difference so
Arendt they concentrate on doing their own work and say nothing about the evils around them.
(whistle- This is called group think and in this way things can go very wrong
blowing)
