The Fluctuating Importance of Business Ethics

By | April 7, 2017

Ethics in any aspect of life are important, yet when it comes to the concept of business ethics, the motivations of those in a position to make key decisions can end up affecting so many more people than just themselves.

Business Ethics

One of the more basic definitions for business ethics is the establishment of trust between a business and consumer or an employee and their employees. While businesses have been around forever, it’s only within the last half-century that the issue has become more carefully scrutinized by society.

Psychoanalyst Patrick Mahony knows that there’s a wide scope of possible eventualities when it comes to the choices of business leaders. Those who choose to do things in the most ethical manner possible can often be trampled by those whose belief system feel that the ends justifies the means.

In some cases, debates about business ethics can mean taking questionable steps to simply stay in business. In those instances, cutting corners can raise the risk level for those performing jobs or involve cutting back on quality control measures that might have negative ramifications for the consumer.

Such motivations have at least some measure of understanding, even if disagreement over the methods used color an outsider’s perceptions. However, any such empathy usually disappears when greed becomes an integral aspect of the conversation.

How much profit is enough remains a conundrum that Patrick Mahony sees on a regular basis. This might involve going through with job cuts that negatively compromise the families of affected employees simply to appease stockholders. It’s rare that a CEO or other business leader will reject profits in favor of personnel.

In short, determining how decision are made here likely involve how an individual was raised, their past business experiences and the current status of a business.