Business, as a market subject, has to aim efficiency and profit. That's why decisions based on the maximizing utility are usually ethically acceptable. In fact actions, which decrease wasting resources and time are working for wellbeing of all society and are encouraged. Economical reasons for utility are sometimes having ethical aspect, as in question of discrimination, for unfair and uneconomical reasons not using valuable human resources. One of the fundamental ethical demands on business decision is conscious generating utility for everybody's welfare.
Ethics demands impartiality, taking in considerations all individuals on equal terms, which is the most important in relations with employees in the company. People collaborate in companies also for personal growth and satisfaction, and manager should respect their physical and emotional wellbeing using fairness as a rule. Justice and fairness are to be base for all business decisions both in external and internal environment; fairly acting and honest statements are necessary in relationship with business partners, customers and even competitors as well.
English: Chart depicting the major kinds and inter...
English: CSR approaches CSR framework
English: Tan Suee Chieh (left), CEO of NTUC Income...And it is important to add that although ethics requires willing of company for compliance with the law, still laws are just a moral minimum - "bottom-line" for a company. There are managers to decide and act according to higher standards.
As liberty, equality of human dignity and rights are considered to be primary values, ethically acting manager has to avoid any kinds of discrimination and persecution, respecting basic rights on speech, religion, origin. So basic human rights respected are also demanded from decision to be ethically acceptable in society. This and previous issue are, of course, insuring psychologically healthy working environment within the firm, minimizing risk of scandals and disasters and builds a good image of company and through this changing whole society to healthier and happier.
Acceptability for others is also a sign of...