1. Business ethics - Business Ethics concerns the relationship between business and stakeholders
- Created by: Alasdair
- Created on: 23-06-17 13:26
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- 1. Business ethics - Business Ethics concerns the relationship between business and stakeholders
- Adam Smith
- The employer has a responsibility to employees
- Employers should be hired fairly an employers have to avoid selfishness
- Mutually beneficial relationship
- Employees need work and employers need workers
- Karl Marx
- Employers (the bourgeoisie) will always be able to find workers
- So employees (the proletariat) have to work to employer's terms or go without work
- Employers have the power
- Employees only have labour to bargain with and if that is withdrawn they will not survive
- Employers (the bourgeoisie) will always be able to find workers
- Businesses are encouraged to consider stakeholders' needs (e.g. workers, consumers) as well as stockholders
- Whistle blowing
- Should an employee be loyal to their employer even if they are aware of criminal or unethical practice?
- Example
- AstraZeneca whistle-blower Jim Wetta
- Uncovered sales reps were promoting an anti-psychotic drug for a wide range of less serious disorders (e.g. aggression, anxiety)
- Promoting drugs not medically accepted to treat conditions is fraud
- Adam Smith
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