importance of ethics in business

Importance Of Ethics In Business

  The word “ethics” is derived from the Latin phrase, aciétidis, which means “to hold ethical principles” [2]. People and organizations look at ethics as a social issue, with many different facets to consider when thinking about what it entails. There are various theories that have been put forward as to how we may help to promote an environment where ethics can thrive, and some of these theories have even helped to shape the way businesses conduct themselves. Some of those theories include Kantian ethics or Deontological ethics. If you’re not familiar with either of those theories, you can refer to my article on them.

   These two theories of ethics are often quite similar, although they tend to overlap some, but not all aspects of each theory. Each theory attempts to establish moral principles that must be adhered to in order for us to live up to the standards set by the society in which we live. These rules should not interfere with our actions and beliefs in life, and should not change the course of our lives overnight. Although both theories state this, there are differences between the two that distinguish them from one another.

Importance Of Ethics In Business

   The most common aspect in terms of similarities between Kantian ethics and Deontological ethics is that both theories attempt to bring together the philosophy of the individual in general on a universal scale, and attempt to use the same principles when thinking about applying to particular situations. However, this approach has resulted in some issues. For example, in Kantian ethics' view the only thing that exists in itself is the concept of good or evil, while in Deontology ethics, humans are only acting out an action that is approved by the law, as the outcome of its application.

Importance Of Ethics In Business

  The reason why Kantian ethics was considered to be superior to Deontology is because it had greater potential to influence the decision-making process. As the basic ideas provided were based on the idea of an “ought-good” principle, it would be easy to say that Kantian ethics provides a more sensible framework for creating and implementing laws, and making new norms for everyday citizens that deal with morality. 

  This would affect the decisions made by government officials and policy makers. So, if everyone followed Kantian ethics, then it would help governments regulate their economic and banking systems, and create better policies for people on the basis of Kantian ethics. Overall, it seems that Kantian ethics is superior to Deontology because it would help us to make the correct choice by using the right criteria for taking an action, and would ensure that the law does not prevent freedom if such an action is deemed immoral.

   Another difference is that Kantian ethics offers a clear structure to understanding how morals can be applied. Using an established system of rules, for example, Kantian ethics helps people understand how something like stealing and harming others could be justified under such moral principles. Similarly, using deontology also gives us a clear answer as to how someone would justify going against the law if such an action is required. They would explain the consequences if an action is wrong, and they would tell us whether there is any reason for doing so. 

Importance Of Ethics In Business

  With this knowledge, we can take the proper steps towards being consistent in our actions. When Kantian ethics is used appropriately, we have to assume that if Kantian ethics is followed, it will yield better results in helping us to take care of ourselves. If that is the case, then we have every right to follow Kantian ethics. We do not have to blindly follow the rules that we’ve created for ourselves in order to uphold and respect one another.

   Another example is Kantian ethics' emphasis on personal responsibility. It allows people to decide how they like best for themselves. One person might decide that they need to be able to control other people’s behavior in order to avoid harm. This is important in cases where people believe they are under the threat of criminals who are trying to steal people’s possessions, or in times where people are forced to provide money back to people whose property they stole in the past. 

   But, when they feel they are owed money as compensation, a Kantian ethical perspective will suggest that they pay back what they stole and should receive the refund in full, or the payment is divided equally across those with wealth and those without. Another example of this principle is when people choose to give people what they want because they believe they deserve it regardless of whether it’s fair to them to give out what they consider to be a benefit. If you’re looking after the interests of others, 

  Kantian ethics would not allow such an action because, in his view, a person is only obeying you when he wants to do so in return, and he has no interest in benefiting himself (as there is certainly no point in having the money to buy other things while keeping the money he initially gave you). Instead, he should give away whatever was taken from him without the promise that he will help others who are suffering in ways where he believes they are in need of help.

Importance Of Ethics In Business

     There are some minor differences that come along with the main areas in which Kantian ethics differs from Deontology ethics. First, Kantian ethics does not consider any sort of justice in the world. All actions we take are guided by our own judgement and what interests we would like to have. Our own desires and the desires of others, however, must not get in the way of the pursuit of just and ethical action (as Kantians believe that such actions are necessary for the survival of humanity). 

   On the flip side, deontology would not recognize the fact that anyone makes their own decisions. Because we are all human beings, we all do have the liberty to follow our own inclinations and preferences, and make our own choices. No matter how hard our upbringing forces us to make our own choices, or how much time we spend on our own agendas, there is still always room for error. This, therefore, brings about the concept of the conflict theory and its premise of power being divided between the strong and the weak.

  One final area where Kantian ethics differs from Deontology in terms of the overall ethical reasoning and conclusions that it draws. Kantian ethics would also give us a sense of belonging on a universal level. It implies that everyone in the global community is part of a group of individuals who share a common purpose, 

  And are obligated to support one another. It would also imply that everyone in this group would do everything in their power to maximize their benefits, as well as the benefit of others. Since all of us are linked to one another in the society, and all of us are connected to our family members and friends, it would be possible to see Kantian ethics in action in our day-to-day lives. By recognizing shared values and goals, and sharing responsibilities and obligations among peers, we could achieve a universal set of values that would help to maintain ethics and peace in our community.

  In conclusion, this discussion has shown us that a Kantian philosophy is superior to any other type of ethical theory. While we cannot ignore ethics in everyday life, we can make the necessary effort to work and live as per these ethical code to gain maximum value possible. By following Kantian ethics, we will be more likely to realize our full potential as well as we would have better life choices all around. Whether to go down this route depends on many factors, including age, occupation, and your beliefs. However, one thing is certain; once we decide to go down the path of Kantian ethics, we will be far ahead of other people if we are willing to do something that we are not comfortable with.

Importance Of Ethics In Business

References:

https://www.napier.edu/ethics

https://www.theguardian.co.uk/business/2014/feb/14/how-ethical-businesses-should-focus-on-ethical-behaviour-and

http://www.scu.ca/ethics

https://www.napier.edu/ethics/how does kantian ethics compare to deontology?#lessons-for-kantian-ethics