BUSINESS ETHICS Essay Example | Topics and Well Written Essays - 3000 words

BUSINESS ETHICS - Essay Example Management for business and economics should come from both aspects of â€Å"external† and â€Å"internal.† From external aspects as in terms of political force, legal directives, sociocultural practices and education. From internal aspects as in terms of positive faith and conduct of business companies and people, self-regulation of business unions, etc. The external aspect alone cannot accomplish this direction because it requires the inner responsibility of business nor is the internal aspect adequate because business, like any societal group, is only a sole element of society and needs supplementary external management and guidance. Nonetheless, the internal aspect is becoming more significant as the economic players have the benefit of more autonomy and thus abide by more accountability. In this period of fast globalisation and secularisation, where authority is moving away from its conventional hub in the West, the world will be inestimably poorer, more unsafe, and more brittle and most of all, more directionless —lacking the essential sense of rationale to help direct its voyage — if it is with no strong religious aspect. Given the tremendous challenges of globalization and secularization, it appears definitively prudent to place the religious approaches to business ethics into the global framework. This sets far above the ground standards, of which, until at present, the realistic and theoretical accomplishments of business ethics have fallen noticeably undersized. Business is component of the societal order. Its prime rationale is to fulfill material and human needs by manufacturing and dispensing goods and services in a proficient style. How this function is carried out the ways as well as the closing stages is central to the entire society. Along with the development in material wealth in the business world, there is rising in some sectors a value system which is damaging to the healthy development of human