Ethics in Business Research Paper Example | Topics and Well Written Essays - 1000 words

Ethics in Business - look for Paper Example unmatchable of the around important qualities a business draw must claim to remain ethical is the ability to maintain divided and often contradictory loyalties. When thought about most basically, a business leader is often a middle person between two new(prenominal) groups who fall in mutually opposing desires board members who would like maximization of profits, and employees who want to maximize their own entertain for work. If imagined in the utmost simplicity, shareholders would prefer that all work be done for free so considerable as the quality remains sufficient, and employees would all prefer that they get paid for nothing, and these are incompatible goals. One of the fundamental problems for a business leader is how to treat both of these groups ethically. Many business leaders have a fiduciary responsibility to stockholders to maximize their profits while also having an ethical, legal, and often business entertain in keep ing the workforce happy and healthy.There have been several suggested solutions to these problems, which would allow a business leader to think of these competing interests as part of the same goal. Amongst the most prominent of these is stakeholder theory. This theory essentially states that many of these conflicts bath be dealt with theoretically by imagining everyone involved as being stakeholders, whose interests must be collectively guarded. Firstly, it butt joint have a paralytic effect (Heath 2006), because it does not deal with the fact that individual stakeholders will soothe have competing goals.