Moral philosophy
In contemporary business environment, every organization has to incorporate moral philosophy while making business decisions that are aimed at pursuing and attaining its goals and objectives. The organization must make decision based on the benefits to be derived from a given action with very little or no harm to any party.
Moral authority also calls for independence and right of every individual to ensure dignity in choosing any course of action to take while at the same time respecting the rights of others without subjecting anyone to avoidable risk.
The moral obligation of the firm has to address the needs of various stakeholders as well as the environment in which the firm operates, an initiative commonly referred to as corporate social responsibility. The business has to0 make decisions that will not negatively affect the community by addressing issues like pollution, drainage and so on. In addition, it’s the moral authority of the organization to ensure it provides products that are environmentally.
Legal Standards of accountability and responsibility
In pursuit of their goals, organizations must embrace corporate governance by ensuring that its employees abide by the professional ethics governing their professions. However, the legal standards of responsibility and accountability may differ depending on how risky the profession is to the clients. For instance, some responsibilities are so risky that a slight mistake may turn out to be fatal, sometimes causing irreparable consequences like in healthcare.
It is the responsibility of any person who accepts a certain job to ensure he/she remains accountable for his/her actions, and should be rational in decision making as part of risk management. Businesses have a duty of care to their clients and should observe utmost professionalism and handle their business with all the sensitivity they demand. The advantages and disadvantages to this position are explained below.
Advantages and disadvantages
Abiding by ethical corporate governance issue and professional ethics ensures that the reputation of the organization remains intact as most clients will feel satisfied and taken care of by the organization. In addition, proper moral judgment ensures the safety of the clients is upheld at all times.
The disadvantage of this is that holding some professions at higher legal standards of accountability and responsibility tends to create discrimination and favoritism thus eliminating the principle of fairness and justice. In addition, human beings are prone to unintentional errors which are sometimes inevitable and therefore holding somebody legally responsible for such an unintentional error will be punishing him/her wrongfully.
Relationship to Moral philosophy
Although business transactions call for ‘caveat emptor’, it is the responsibility of the organization to exercise a duty of care in its operations. This means that organization and its employees should be held liable for loss or injuries caused to clients who buy its goods or services. The legal justice should be used against the negligent persons in their professional duties. This is consistent with moral philosophy ensuring benefit is realized without inflicting harm to others and creating the greatest balance of good and bad.
References
Barret W. (n.d). Responsibility, Accountability and Corporate Activity. Web.
Goree, K. (2006). Ethics in the Workplace. 2nd edition, Florence: Cengage Learning.
Velasquez, M. et al, (n.d). Thinking Ethically: A Framework for Moral Decision Making. Web.