Essay - Part II When Firms Have Rights, They Must also Understand...

PART II

When firms have rights, they must also understand that they have certain duties as well. Every person and entity with rights has responsibilities too which help keep a check on his rights so rights of others *****re also protected. Ethics ***** always been an integral part of the way hum***** beings are expected to think ***** behave. For this reas*****, it has entered ***** field of business and commerce as well. Many philosophers have posed the question: "why does a person be***** ethically." In the same vein, we can ask, ***** ***** a firm behave ethically? The ans*****r can come from religious, moral as well as purely capitalist sources. It is believed that man is expected ***** behave ***** because it is the "divine comm*****," one's duty, or in the words of Kant, an action ***** considered right only when it is b*****ed on a sense ***** duty. Hence *****re can be many *************** for explaining the expectation of ethical approach. People like Benjamin Franklin who were more morally inclined felt that "business ***** the pursuit of virtue." That is however a very simpl*****tic way of explaining the ***** of ethics and may not ***** easily accepted by *****ic circles. Some critics on ***** other h***** feel ***** there is no real morality ex*****ting in the *****. The morality we find in a modern firm is based on "that ***** thing" which people above you want from you.

***** is important to observe ethics in every *****m of life and business is no excepti***** ***** this premise because business has so much profound impact on people's lives directly ***** indirectly that it is imperative to ***** ***** business ***** in *****s true ***** for best the ***** education. Bus*****ess ethics is about rules and principles that are encountered in business setting and any given duties or obligations ***** apply to people who are working in this field. Business ***** can be both a normative and a descriptive discipline.

Norm*****tive ethics is ***** branch of the philosophical study ***** ethics concerned ***** classifying actions as right and wrong. It deals with what the population should believe to be right ***** wrong. Descriptive ethics deal with what ***** population believes ***** be ***** and *****.

As ***** ethics lays emphsis on what ***** be considered right and wrong and does not generally follow the prevalent trend it marks overall boundries ***** ***** business practises and norms that will ***** eventually adopted if not in vogue. There are different theories found under the umbrella of normative ***** that are of course great land***** ***** ***** field of corporate world.these include:

Consequentialism; argues that the morality of an action is not logically necessary on the outcome of the acti*****. This in turn is subdivided into forms that fur*****r elaborate the main ********** ***** ***** Utilitarianism, it suggests that an action should be judged right if the possible outcome of ***** results into betterment of majority of people and trouble for ***** le*****t.