Business Ethics Essay
It is the dream of ever person to have a better living. The only way to achieve this is through earning income, which helps one to have a life that he or she may desire. While some people engage in self-employment, corporations or companies hire majority of the professionals. Due to the current nature of the world economy, there are high competitions and therefore most of these corporations will look for highly qualified personnel to hire. In addition, the only way that corporations can remain competitively in the market is to make sure that they always have a good name within and without their environment.
This further means that these corporations have an obligation in an environment that is way beyond the requirement by law. There are situations when corporations will lay some requirements for those people who will work for them. Some of these requirements are not requirement by law.
For instance, we find the law requires a company to give its employees some benefits such as the medical cover, insurance and the like. However, we find some companies going beyond this requirement where we find them giving their employees education covers. They educate the children of those persons that employed
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Several ethical theories are applicable in giving a deeper understanding of the reasons why a company may stretch and use extra resources to act on activities that are not a requirement by law. The first of these theories is the virtue theory. Different companies happen to have different values. The law instills some of these values while the company instills the other values. According to this theory, a company may want to extend beyond the requirement by law by considering the real character of the person.
This is irrespective of the instances when the person had deviated from his normal behavior. From this perspective, the company may decide to reward the person more as it would consider such a person a useful resource for its survival. It would therefore not want to lose the person and therefore would give all the benefits that would assist in retaining him. (Velasquez)
Utilitarianism may also be used to explain the reason why a company may have more obligations than required by law. The theory is based on principle that the decision made would bring happiness to majority people. It is the dream of every company or ever corporation that is focusing on lifelong operation to want to retain the best workers that it has. The only way to do this is to try to make them happy. This means that the company will make all the decisions that would make most of the workers happy and therefore prevent them from leaving.
Workers know their basic rights while they are working at the company. Just by making sure the company meets these needs would not make the workers happy. There is a need to go beyond what the workers think their right are and the only way to do this is to have more obligations; some of which are not requirement by law. (Velasquez)
This issue can also be argued from the rights theory perspective where the company may consider some benefits of some obligations as the rights to the productive workers and therefore give them the first priority. For instance, the company may consider giving all the managers’ children free medical insurance as an appreciation of the good work that the managers has. Even though this may not be a requirement by the law, the company or the corporation may consider it a requirement and that all managers must have them. This may boost the morale of these managers and at the same time retain them. (Velasquez)
In conclusion, it is clear that corporations have more obligations to the environment beyond the requirement by law. The reason is that there is high competition coupled with hard economic times and these corporations must do all they can to make sure they remain in market. To achieve this, they must not only have the best team but also take the necessary measures to ensure that they retain this team. The only way to achieve this is by thinking and acting beyond the minimum requirements.
Velasquez, Manuel. Business Ethics: Concepts & Cases. Upper Saddle River: Prentice Hall Publishers, 2006.