Moral Reasoning in Business
Applying Morality in Business
Morality is a set of rules according to which we behave in various situations. It establishes a level of standard for virtuous conduct.
Moral ethics can be applied into any business. We can say a business is ethical if it conducts businesses in a socially responsible ways and realizes that doing so can lead to increased profits and consumer satisfaction.
Business ethics involves applying a moral framework to the way in which organizations do business. This involves applying moral values to the overall business process from dealing with human resources issues to sales and marketing
There are two aspects to applying business ethics. The first is to understand how you and your employees react to social and cultural issues and the second is how you incorporate the best business practices into your organization.
Making moral decisions
Making moral decisions is very important in conducting an ethical business. Good moral decision-making requires knowledge of the facts, and carefully considering the moral values relevant to the situation.
To make a good decision, first we have to get the facts straight and collecting additional facts in difficult situations. Collect fact from experienced people and also through science and technology.
Moral decision making requires the understanding of moral issues that we face in everyday situations or activities. There are various considerations to be done while making a moral decision including the parties going to be affected by this decision, factors that influence the decision and the sensitivity to the set of values and principles that are applied.