Stakeholders play a major role in the business arena, they are charged with the responsibility of ensuring their organization is a safe environment not only for themselves but for their employees. In a seemingly competitive and morally flawed world, business people and entrepreneurs are often presented with grave ethical challenges. For this reason their personal values and beliefs play a pivotal role in the success of the organization. When concealing doubts about the ethics of others, more than a few tend to feel warranted in engaging in less-than-ideal conduct to protect their own interests. Because of these politics, in most circumstances even the most cultivated moral quarrels are unlikely to lessen this behavior. More often than not most people tend to believe that this morally self-protective behavior is responsible, in large part, for much undesirable dishonesty in the business arena.
In Chapter three of Business Ethics textbook (O.C. Ferrell, 2011, 2008), titled “Emerging Business Ethics Issues” some these concerns are addressed. When reading this chapter it is important to note key objectives. The authors’ intent in this thought provoking chapter is to provide the reader with knowledge on how to identify and examine ethical issues in the context of organizational ethics as well as how they relate to basic values, delineating abusive and intimidating behavior, and to examine the challenge of determining an ethical issue in business (O.C. Ferrell, 2011, 2008).
Defining and Examining Ethical Issues
When defining ethical issues in the context of organizational ethics, one must first be able to recognize what an ethical issue is in order to take the appropriate course of action. According to (O.C. Ferrell, 2011, 2008), an ethical issue is defined as a problem, situation or opportunity that requires an individual, group or organization to choose among several actions that are evaluated as ethical or unethical whereas an ethical dilemma is a problem, situation, or opportunity that requires an individual or group to choose among several wrong or unethical actions. For businesses, it’s very important to distinguish between the two. Business leaders must realize decisions that are made, especially those that are personal may be unsettling and have a profound effect on the interest of a company; behavior such as this can result in both ethical issues and dilemmas. For this reason authors suggest individuals, should be honest, fair and above all exhibit integrity.
When examining ethical issues as they relate to the basic values of honesty, fairness and integrity, it is not hard to see how they should be used not only in the business arena but in everyday life. Honesty refers truthfulness and trustworthiness. Fairness, which is the art of being just and integrity, a simple word yet it requires much. Integrity causes an...