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Applications of moral obligations in organizations

Discuss the different meanings of the word ethics and how do moral obligations apply to business organizations.

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First,let's define ethics per the following:

moral principles that govern a person's or group's behavior.
"Judeo-Christian ethics"
synonyms: moral code, morals, morality, values, rights and wrongs, principles, ideals, standards (of behavior), value system, virtues, dictates of conscience More
the moral correctness of specified conduct.
"the ethics of euthanasia"
the branch of knowledge that deals with moral principles.

Essentially, then, ethics deals with moral principles, moral code, and the over all concept of morality --- how we deal with others. Stated a different way, we can state with certainty that ethics involves doing the right thing, EVEN WHEN NO ONE IS WATCHING! Ethics involves the use of a moral compass which tells us that we need to treat people with the same courtesy which we demand. What then is the right thing when it involves business dealings?

Within business the lines can oftentimes become blurred as to what the right thing may be. If we pay for something with a $100 bill, then we are given change which exceeds the $100, are we obligated to bring it to their attention? Or is it their mistake which we are allowed to capitalize on? If we are in receipt of more inventory than we ordered, is it our obligation to notify our supplier of the mistake, or do we chalk it up to their error? Is it acceptable to stretch credit terms to suppliers for ...

Solution Summary

A view of what determines ethical standards, and how we would want them applied in business, government, and our personal loves