As one of its three core competencies in ethics, entrepreneurship, and sustainable business practices, the University of Wyoming College of Business launched its current Business Ethics program in 2005 under the guidance of ProfessorsC. Outside of what people expect of each other, sound ethics are important to business for it is around sound and understood ethics that many business practices are established. In the short term, the business may make some additional cash, but in the long-term it is devastating.
When a business scandal erupts, the public will clamor for more government oversight. It’s also my sense that any party who interacts with another party in the context of business could be said to have a relationship (stockholder, employee, executive, competitor, etc.), and these may merit separate consideration.
Some ethicists see the principal role of ethics as the harmonization and reconciliation of conflicting interests. Virtue ethics is a tradition within philosophical ethics that seeks a full and detailed description of those character traits, or virtues, that would constitute a good and full human life” (DesJardins, 2014, p. 41).
As a participant in markets and a member of its community, the socially responsible business expresses its needs and concerns to government when appropriate. One way of advancing this project is by choosing a normative framework and teasing out its implications for a range of issues in business.
Consider the case of Healthy Buildings International (HBI), an independent building inspection business. Then I’ll examine the kind of ethical considerations companies need to address, how they can go about doing business in a more ethical way, and look at some examples of ethical business practices.