Ethics & Morality

What is the difference between ethics and moral and why ethics and moral should to have in business and society? 

Ethics are moral guidelines which govern good behavior. So behaving ethically is doing what is morally right. Behaving ethically in business is widely regarded as good business practice.  This is a couple of quotes:

                                   

The definition of ethics is the basic concepts and fundamental principles of decent human conduct. It includes study of universal values such as the essential equality of all men and women, human or natural rights, obedience to the law of land, concern for health and safety and, increasingly, also for the natural environment. Whereas, morality is a personalized form of these ethics as different people set different sets of morals for themselves. It is different than ethics. For a society, morality is the generally accepted standards of behavior within the society at a point in time, meanwhile for an individual, morality is spoken of as either a set of personal standards that make up the individual’s character.

The difference between ethics and morality gets highlighted when a person works in an organization where ethics are not in conformity with his morals, they can make a problem with other staff. So, from both definition Ethics and morals are relate to “right” and “wrong” conduct. However, ethics refer to the series of rules provided to an individual by an external source, like their profession in business. On the other hand, morals refer to an individual’s own principles regarding right and wrong. This is one professional example of ethics conflicting with morals is the work of a defense attorney. A lawyer’s morals may tell her that murder is reprehensible and that murderers should be punished, but her ethics as a professional lawyer, require her to defend the client to the best of her abilities, even if she knows that the client is guilty.

We can clearly see that morals and ethics though seemingly similar are in fact quite distinct. While the former constitute a basic human marker of right conduct and behavior, the latter is more like a set of guidelines that defined accepted practices and behavior for a certain group of people. So their summary is ethics relates to a society whereas morality relates to an individual person. Besides, ethics also relate more in a professional life while morals are what individuals follow independently.

And why ethics and morality should have in business and society?

For me, the ethics and morality should have in business and society because the society requires a code of ethics in order to provide for order, to prevent or minimize general conflicts within society, to reduce strife between individuals, and to provide a basis for settling conflicts between competing values. With the good ethics, we can get a personal advantage and our business will be a good business. Besides that, with ethics and morality, we can get the admiration, respect of peers and the fewer conflicts with others. Practicing ethics also can makes decisions easier for us as we progress through life.

With an understanding of values, ethics and morals while using ethical principles, a business owner or leader can form a framework for effective decision-making with formalized strategies. So, behaving ethically in business is widely regarded as good business practice. Lastly from me is good ethics and moral  can make our business being good.

              

*Assignment 2*

Assalamualaikum everyone!! ♥ 

Last week, I got a second assignment for Business Ethic and Corporate Governance. Pak Din want me to create my own question and answer it. It is weird because 3 years I'm studied,  lecturer never give a assignment like this. I think Pak Din is really unique person.:) 

I know why he want me to do this, it is because he wants me know that to be a lecturer is not easy especially when to create a question for exam. At the same time, he wants me to be a creative and innovative student.

So, the topic that I was chooses  is "What is the difference between ethics and morality and why ethics and morality should to have in business and society? ".

Let's continued to read my blog..:)

*Assignment 1*

Bismillahirrahmanirrahim, In The Name of Allah, The Most Gracious, The Most Merciful.

Assalamualaikum ♥♥♥ :)

I might not even know who read my blog, really thank you so much for spending your time to read this. Really appreciate it. J

Hello Ladies  & Gents. May you guys have a good day today. I want to tell you that i am already done did my first assignment in the subject that i'm learn is Business Ethics and Corporate Governance. Alhamdulillah..

This semester is lucky for me because I still got the same lecturer like the last semester.

He is Prof. Sr Dato' Dr Kamaruddin Bin Mohd Nor and also known as Pak Din. As you know for this semester Pak Din want all of us call him as Abah.. and I can feel it that Pak Din like my father.:')

What is definition of Corporate Governance?

Corporate governance is the system by which companies are directed and controlled. It involves relationships between the company’s board, shareholders and stakeholders. It is actually conducted by the board of directors and the concerned committees to ensure accountability, fairness, and transparency in a company's relationship with its all stakeholders (financiers, customers, management, employees, government, and the community).  It is all about balancing individual and societal goals, as well as, economic and social goals.

The corporate governance is very important in organization because it can make the organization be a systematic. It also can help to detect and prevent the corporate scandals, fraud, and criminal liability of the organization.

The perception of good corporate governance is an important of the image of an organization, whether public or private. For example, when The Nature Conservancy, a not-for-profit organization, was perceived to have poor corporate governance, the public contributions to this organization were substantially reduced. So, when the corporate governance image is good, the reputation of the organization also be improved and makes it more attractive to customers, investors, suppliers and, in the case of nonprofit organizations, contributors.

On the other hands, it also have a benefits that are ensures corporate success and economic growth. Strong corporate governance also can maintains investors’ confidence and the company can raise capital efficiently and effectively. Besides that, it provides proper inducement to the owners as well as managers to achieve objectives that are in interests of the shareholders and the organization. This also ensures that the interests of all shareholders are safeguarded. Good corporate governance also minimizes wastage's  corruption, risks and mismanagement. It also helps in development and ensures organization in managed in a manner that fits the best interests of all.

Why Business Ethics is Considered “Oxymoron”??

Business ethics, it has been claimed, is an oxymoron (Collins 1994). By an oxymoron, we mean the bringing together of two apparently contradictory concepts, such as in ‘a cheerful pessimist’ or ‘a deafening silence’.

An oxymoron is a phrase in which the parts are contradictory or incongruous in one of several ways. Frequently, at least one of the words in an oxymoron is not used literally or has multiple meanings, and the apparent self-contradiction arises from this.

Business ethics is considered oxymoron. Usually the biggest question on everyone's mind is how a businessman can be ethical at the same time. But, all businesses have to care about ethics all the time. They need to take good care of their managers and employees. There are some of the unethical activities such as fraud and defalcations which is against company policies.

The questions determine if Business Ethic can be an oxymoron is very relevant because these two areas seem to be very incompatible. Indeed if we have a look to their respective definitions they do not work together first. Succeeding in business is largely about advancing our own private interests, aggressively competing against other people, beating them out for the same prize, and having unlimited ambition for money, position, and power. The moral life by contrast, focuses on our duties to hurt anyone (deliberately or accidentally), to place other people's interest ahead of our own when it's called for, and always to treat others with the dignity and respect they deserve.

Business Ethics and Corporate Governance's Assignment. ^_^

   

The definition of Business Ethics..

Business Ethics is an ethics that examines ethical rules and principles within a business situation, activities, and ethical problems that can arise in a business where issues of right and wrong are addressed.

The variety of problem that can arise from the business environment like how the employees, management, and the corporation can deal with them ethically. Problems such as fiduciary responsibility, corporate social responsibility, corporate governance, shareholder relations, insider trading, bribery and discrimination are examined in business ethics.

Business Ethics also can be defined as moral principles that guide the way a business behaves. The same principles that determine an individual’s actions also apply to business. Acting in an ethical way involves distinguishing between “right” and “wrong” and then making the “right” choice. It is relatively easy to identify unethical business practices. For example, companies should not use child labour  They should not unlawfully use copyrighted materials and processes. They should not engage in bribery.

So, the businessmen must avoid indulging in unfair trade practices like adulteration, promoting misleading advertisements, cheating in weights and measures, black marketing. They must give fair wages and provide good working conditions to their workers.  They must encourage competition in the market. They must protect the interest of small businessmen. They must avoid unfair competition. They must avoid monopolies. They must pay all their taxes regularly to the government.