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Business Portfolio Paper

2522 words - 11 pages

Portfolio Paper: Business Ethics

Business Ethics

Introduction

Business ethics plays an important role in operation of any organization. It may incorporate the useful application of the ethical conduct in an enterprise setting. Moral actions include not only the ethical compliance through the strict observations of rules and regulations but also setting aside selfish interests and allowing every individual in the workplace to achieve their self-actualization goals. Any ethical organization should foster the existence and practicality of moral behavior within the organizational environment. The association ought also to define certain baseline ...view middle of the document...

Hirsch, Garland and Wakefield (2004) suggest that the control of practices in a corporation allows it to integrate ethical standards into the workplace.
Philip Morris International is one of the leading companies that manufacture tobacco. The firm’s headquarters are in Lausanne, Switzerland. The company makes various brands such as Bond Street, Long Beach Marathon, and Marlboro among others. The company was founded by Mr. Philip Morris, who traded cigarettes and tobacco-related products in his first shop in London. The company outlines various measures regarding its ethical practices. The company’s ethical statement is “We uphold the relevance of the business and the society satisfaction in carrying out our operations.” This account is subdivided into various practices dictated by the company. These methods include:

I) To remember that PMI’s reputation depends on the cumulative individual actions

II) To ensure accountability and act on necessitated grounds

III) To value and uphold the rule of law as the company expressly depends on a fair political system that supports fundamental rights and the rule of law that guarantees commercial freedom

IV) To accept that the society requires the company to be socially responsible towards them and sensitive to the decisions that the management agrees upon

V) To know that the existence of honesty and trust are imperative to the functionality and the existence of the corporation.

These ethical statements above help define the company and the operations in which conducts in its respective industry. Even though this company has laid out its limits and objectives towards the society, it fails to uphold its end of the bargain. The company faces various ethical issues raised against it by several corporations concerned with the environment and public safety of the environment. An example of such corporation is the Human Rights Watch (Waddock, 2006). The firm has experienced criticism in its current years of operations due to the fact that it has promoted unethical employment practices in its workplace.

There are various ethical issues that currently inhibit effectual operations in the company. These ethical issues include

i) The failure of Philip Morris International to meet its end of the bargain by upholding its social responsibilities towards the society.

ii) Corruption

iii) Poor working conditions and the practice of child labor

Failure of Social Responsibility

Philip Morris International argues to apply utilitarianism in its workplace. This ethical practice involves the pursuit of happiness and pleasure, which is often derived from conducting specific activities. This theory also points out that the search of happiness forms the basis of the morals in an individual. This theory assumes that the quantity and quality of happiness derived from particular activities can be measured (Viscusi, 1996). It, therefore, does...

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