Ethics and Stakeholder Management Essay Example | Topics and Well Written Essays - 1500 words

Ethics and Stakeholder Management - Essay ExampleThe concept of ethics is very important during the coetaneous period in the operations of any given fundamental law. Socially responsible businesses ought to create a equilibrize between the protection of the interests of the consumers as good as their objectives of making remunerations. However, the turn of ethics is somehow contr oversial in that there may be conflicts whereby pack may disagree over a current issue with regards to the right course of spielion that rear be taken. There are mixed feelings over one issue whereby others see nothing violate about it while others view it as wrong which presents an ethical dilemma to the organisation. As such, an ethical dilemma arises when there is an unresolved interpretation of an ethical issue (Arens, 1996). This is a situation when people have different perceptions over a picky issue. In this particular case, a computer manufacturer decides not to market a new chip that wou ld enable computers to be upgraded. This entails that there is no need for a new computer and this reduces electronic waste. However, this will lead to a reduction in the sales of the computers which means a definite reduction in revenues in the con term. On the other hand, the long-term pay-off is uncertain and this has presented an ethical dilemma to the organisation. In this case, the organisation is finding it unenviable to market the new chip though it will benefit the majority of the people at the expense of their need to protect the business interests of the company such as its profitability. In view of this given scenario, it toilette be noted that to a certain extent, there is no universal agreement of what constitutes good things from bad. authorized incidences sometime arise where people often view the same thing from different perspectives (Hiti, 1999). However, in as far as business is concerned, it can be noted that the main objective is to attain profit goals wher eby ethics are at times compromised for financial gains. Theoretically, there are different ethical theories that can be applied to this case but the most ideal is utilitarian ethical theory. According to this theory, the weft that yields the greatest benefit to the majority of people is ethically, (Rainbow, 2002). As such, this ethical theory posits to the effect that organisations should encourage the people to work towards the outcomes that will benefit the majority of the people that are affected by the operations of a given organisation. It has to be borne in mind that businesses are concerned with serving their own interests as well as the interests of the stakeholders which should not be compromised for financial gains alone. The right course of action will be to determine the guidelines that will yield benefits to the majority of people not only the concerns of the company alone. The utilitarian theory suggests that the organisation ought to be guided by values as well as principles that will incline it to act in a certain way which makes it different from the other organisations.