Type of paper: Essay

Topic: Theory, Ethics, Actions, Business, Community, People, Property, Commerce

Pages: 3

Words: 825

Published: 2020/11/07

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Essay on Business Ethics and Law

Luke is working with a hypothetical company ABC. The management has assigned the responsibility of working on a project to Luke. This project involves opening an adult entertainment retail store on a land purchased recently by the company. This development will affect the prices of the land in that community in a negative way causing them to decrease. This information has not been made public. Luke’s Brother Owen also lives in that neighborhood and is planning to sale his property. He has got a reasonable offer but wants to retain the property to get a better price. After the disclosure of opening of retail store in about a month, the prices of the property are expected to fall.

Issue

Luke is in immense confusion whether to support the words of owner and maintain confidentiality or bring the issue in notice to his brother and the other world, so that he may sale his property at the current best offer. If Luke goes against the owner it will result in his termination and it is a breach of contract of confidentiality with company as well.

Analysis – Application of Ethical Theories

Business ethics is a dedicated branch of ethics focusing on how moral principles are valid to business organizations and conduct of its employees.
The focus here is on six normative ethical theories, representing comparatively diverse moral philosophy that individuals can apply to reason their decisions and actions within organizations. These theories are ethical egoism, utilitarianism, deontology, the ethics of care, rights theory, and the theory of justice.
Utilitarianism theory states that an action takes place when it is equally beneficial for the whole society and not for an individual’s benefit after taking into account all the society costs that may incur. Hence, societal costs are excluded from societal benefits to formulate a cost-benefit analysis and decision is taken accordingly. If Luke takes the decision to disclose the information before time then the issue of deception will arise. His employer will raise the concern of not being loyal with the organization. On the other hand, he will disclose information to his brother that will not only be beneficial for his brother but for the other people of the community as well. They will become aware about the price speculation of the property in the days to come. It will be beneficial for more people though it is against the interest of his employer. It can be considered as deception by the employer but this issue of deception can be resolved by giving the argument of utilitarianism, that it will be beneficial for the community as a whole.
Egoism theory explains that whatever action individual performs, it is purely in accordance with self-interest of that particular individual. It is a self-centered kind of approach. If Luke decides to take action considering this theory then he will not tell about the possible decrease in the land price and opening of adult entertainment store and will save himself and his job by going with the owner’s suggestion.
Deontology theory is originally based on the idea of Kant, who states that good or bad action is determined by the intention behind that action and not the consequence of that action. All individuals should be treated equally and the good in any action performed is actually the good will. Considering this approach, Luke should disclose the information to his brother and other people in that neighborhood. This action will be justified with the logic that he had an intention of greater good of the people that they have a right to know that prices will decrease due to the adult store in that area. The intention of Luke is not to hurt the interest of his employer but to protect the interest of the people of that neighborhood.
The theory of care states that while taking any decision always consider close relations of friendship, sympathy, loyalty, compassion and empathy. Therefore, decision taken in this regard will support the action of telling Owen about the significant decrease in land price.
Conclusion

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WePapers. (2020, November, 07) Facts Essays Example. Retrieved June 18, 2021, from https://www.wepapers.com/samples/facts-essays-example/
"Facts Essays Example." WePapers, 07 Nov. 2020, https://www.wepapers.com/samples/facts-essays-example/. Accessed 18 June 2021.
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WePapers. Facts Essays Example. [Internet]. November 2020. [Accessed June 18, 2021]. Available from: https://www.wepapers.com/samples/facts-essays-example/
"Facts Essays Example." WePapers, Nov 07, 2020. Accessed June 18, 2021. https://www.wepapers.com/samples/facts-essays-example/
WePapers. 2020. "Facts Essays Example." Free Essay Examples - WePapers.com. Retrieved June 18, 2021. (https://www.wepapers.com/samples/facts-essays-example/).
"Facts Essays Example," Free Essay Examples - WePapers.com, 07-Nov-2020. [Online]. Available: https://www.wepapers.com/samples/facts-essays-example/. [Accessed: 18-Jun-2021].
Facts Essays Example. Free Essay Examples - WePapers.com. https://www.wepapers.com/samples/facts-essays-example/. Published Nov 07, 2020. Accessed June 18, 2021.
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