ETHICS Research Paper Example | Topics and Well Written Essays - 2250 words

ETHICS - Research Paper Example The code of ethics, however, is nothing if it is not applied to the activities of a business. One of the ways in which the activities of a business are framed for ethical conduct is through the application of law on how business is conducted. In this way, a sense of universality, at least within the context of a state, is managed in regard to ethical conduct. Laws are put into place to force corporations to behave in certain ways within the nation in order to conduct business in an ethically considered manner. The following essay will first discuss the various theories on ethics that provide a framework for the discussion of ethics. A discussion of law and ethics will allow for examples to be supplied of ways in which ethics and law work in concert to create a more morally responsible collaboration between business and society. A brief discussion about shareholder models of corporate governance in comparison to stakeholder models of corporate governance will provide a context for the concept of ethics as they are applied to business. The nature of business is not always in line with universally held views of ethics, however, in order to conduct business in a manner that is conducive to all parties impacted, ethics must be created to preserve social, cultural, and national states of morality. Business Ethics: Theories Ethical Fundamentalism Ethical fundamentalism is a theory in which the search for an ethical foundation is made through an outside source. According to Nagata â€Å"Fundamentalism is fast becoming the metaphor of choice in a quest to assign meaning to an ever widening range of ideas and behaviors, and it has recently migrated from its original narrow religious reference band to other domains† (481). In order to understand the parallel to religious considerations, one must assert the idea that in looking at a source or religious inspiration, one is looking to an outside source for how to frame behaviors or ideologies. In the search for founda tions of how to frame a business ethic, one might use a figure who represents a certain framework or an ideology that provides context to how an set of ethics is determined. Organizations that can be considered for its fundamentalist approach and through the strength of its work culture can be Wal-Mart and McDonalds. Both organizations have a foundation of ethics that are centered on the philosophies of their founders. Utilitarianism Utilitarianism is based upon the concept of behavioral consequences. Bentham begins his discourse on utilitarianism by suggesting that there are two domains under which motivation is created: that of pleasure and pain. He calls these tow domains â€Å"sovereign masters†, having such power over actions that they are the contrasts that rule most all actions. He states â€Å"The principle of utility recognizes this subjugation, and assumes it for the foundation of that system, the object of which is to rear the fabric of felicity by the hands of re ason and of law† (Bentham 5). Bentham states that â€Å"By the principle of utility is meant that principle that approves or disapproves of every action whatsoever, according to the tendency which it appears to have to augment or diminish the happiness of the party whose interest is in question† (6). This can mean individual or community, or any