Ethical Issue in Business: A Philosophical Approach

Business Ethics is a field that deals with the examination and analysis of ethical and moral principles as well as the conduct of both individuals and the corporation alike. A discussion of moral reasoning is tackled in the book Ethical Issues in Business: A Philosophical Approach. In the first chapter of the book, general issues surrounding Business Ethics is discussed along with controversies that may arise. According to the authors, Ethics is the study of rightness and goodness for human beings. Meanwhile, business ethics requires analysis and evaluation of current practices within a company. The authors state that analysis of the situation should go beyond facts and instead, should examine the principles involved and what needs to be done. According to the book, there are two traditional issues involved with ethics, namely: Ethical relativism and truth telling. Ethical relativism questions universal values as it presumes that individuals’ reasoning may vary according to their culture, religion, upbringing and educational attainment. On the other hand, truth telling is a very important aspect of communication and the truth, is in fact, required in order for society to advance and gain new discoveries and knowledge.