Ethics and Governance Essay Example | Topics and Well Written Essays - 1500 words - 5

Ethics and Governance - Essay Example According to Kant, it is morally wrong to lie. He argued, in general, business lies and it makes it difficult to obtain a balance credit if everyone lies. Kant also argued that ethics is irrelevant in the business because most business lies and behave immorally (ibid). In order to be ethical business, one must believe that shareholders and customer have dignity. They are valuable human beings and worth more than the stock or the price of the goods (ibid). Kant’s recipe for business management is (1) to treat people respectfully and consider they have dignity. Commercial transaction is not prohibited but one has to treat the others as an end not merely as a means. Acting deceptive in commercial transaction indicates dishonesty and lack of ethics, even without rational and moral capacities. This requires businesses not to coerce or deceive their shareholders or customers. Asymmetric information is common in business. Too often, managers or individuals with more information tend to consider themselves powerful and yet, are abusive to others. Kant suggested that (2) to reduce power abuse in business management, it is necessary there is open book management or transparency relationship between employers and employees. Said Bowie, when employees have full information, they have the incentive to behave responsibly. Case (1995) agreed with Kant concerning open book management. He said, open book management gives the opportunity to employees to take â€Å"a chance and act to take responsibility, rather than just doing their job†¦ gets people on the job doing things right†¦ teaches them to make smart decisions†¦ because they can see the impact of their decisions on the relevant numbers† (p. 45-46). The practice of open management would correct asymmetrical information the managers have (Bowie, 1999). Since managers have more information, they tend to abuse

Business law Term Paper Example | Topics and Well Written Essays - 250 words

Business law - Term Paper Example In this instance, Christopher has to fulfill the condition precedent that is the prerequisite for him to be awarded the inheritance. Luckily, he was already employed as a Marketing Liaison Officer in one of the local hotels in the city. He immediately took possession of the beautiful house left in his care and all the assets that went with it. The first evening he was alone, he decided to watch a film in the Sunnie 60† flat screen television. He was shocked as he turned on the TV when he saw that there was an ugly discoloration on the entire face of the screen, which looked like large blotches of ink thrown at the TV. He checked the records pertaining to the television, and he found out that it was purchased within six months for $5,000.00. He is aware of the warranties that go with the television unit. He browsed over the shrink-wrap agreement that he found in one of the drawers in the office. The shrink-wrap agreement is usually attached in the box of the unit, the contents o f which probably had not been discussed with the buyer. He discovered the conditions of the services that may be rendered for the unit bought and the terms of the warranties. To make it look more official, the conditions are written in various languages, and in very fine prints, to discourage the purchaser from reading it. The following morning, he complained to the dealer of Sunnie, which is the Sunrise Appliance Store, and he was told that the store could not honor the warranties in this instance because the problem was caused by excessive use of the unit. They can repair it, but they would have to charge the cost in the amount of $2,200.00. They pointed out under section E found in the shrink-wrap agreement, that it said, â€Å"Excessive use is specifically not covered by any warranty.† Christopher was quick to anger. Luckily he brought his lawyer with him.