Discussion Forum \"Unit 2: Ethics in Business\" Directions: 1. View the video at
ID: 353934 • Letter: D
Question
Discussion Forum "Unit 2: Ethics in Business"
Directions:
1. View the video at http://www.learner.org/series/ethics2/risk_reward/index.html (open in new window)
2. According to the video, if you are a board member of a corporation, who do you owe your loyalty to? Please respond to one of the following questions:
Is there a difference between the company, the shareholders, or to society at large?
As business executives, can you engage in actions that are not illegal and that might help the company but you are personally offended by on moral grounds?
Do you find a difference between the two or three different scenarios presented in terms of how you would react? Why?
3. Post your answer under the Discussion Board forum "Ethics in Business"
Explanation / Answer
1. As a board member, we owe our loyalty to the business or the primary stakeholders and after that other factors such as the public will be taken into account.
2. As business executives, engaging in an action which is not illegal and justifiable but offends our personal moral ground should not present any challenges to us. This is due to the fact that our responsibility is towards the stakeholders and the continuity of the company and unless, there's a serious effect on any legal grounds for the case of the action, it should be undertaken if it helps the company. Legality and morality is an issue when the public is getting affected by the process that we are performing for the betterment of the company.