Assignment#2

Aleena Asad
SP23-BBA-024
Introduction to Business
Questions#1:
Define business ethics and describe an ethical situation in which you had to distinguish
between right and wrong. Make Legal-Ethical Matrix that shows some examples of how
business conduct can fall within legal and ethical dimensions.

Answers:
Business ethics refers to the principles and values that guide the behavior of individuals
and organizations in the business world. It involves making decisions that are morally and
socially responsible while balancing the interests of various stakeholders such as
customers, employees, shareholders, and the community.

One ethical situation I experienced was when I worked for a company that was
considering outsourcing some of its manufacturing to a third-party company that had a
history of using sweatshop labour. As a member of the supply chain team, I was tasked
with researching the potential supplier and evaluating their ethical practices.
After conducting extensive research, I discovered that the supplier had been involved in
multiple human rights violations, including child labour, forced labour, and unsafe
working conditions. While outsourcing to this supplier would have saved the company a
significant amount of money, it would have also gone against the company's ethical
principles and potentially caused harm to the workers.
I ultimately recommended against outsourcing to this supplier and proposed alternative
solutions that aligned with the company's ethical values.
The Legal-Ethical Matrix is a tool used to evaluate the relationship between legal and
ethical dimensions of business conduct. It helps identify actions that are both legal and
ethical, actions that are legal but unethical, actions that are illegal but ethical, and actions
that are both illegal and unethical.
Examples of how business conduct can fall within these dimensions include:
  Legal and Ethical: Providing employees with fair wages, promoting workplace
diversity and inclusion, using environmentally friendly production processes, and
following industry regulations and standards.
 Legal but Unethical: Exploiting legal loopholes to avoid paying taxes, using
manipulative marketing tactics, discriminating against certain groups of
customers or employees, and prioritizing profit over social responsibility.
 Illegal but Ethical: Engaging in civil disobedience to protest unjust laws or policies,
disclosing information to the public that may harm the company's reputation, and
blowing the whistle on illegal or unethical practices.
 Illegal and Unethical: Engaging in bribery, insider trading, price fixing, fraud, and
other criminal activities that harm individuals or society.

Questions#2:
What is an Ethical Dilemma? Describe ethical dilemma example for students?

Answers:
An ethical dilemma is a situation in which an individual or group must make a choice
between two or more conflicting moral principles or values. It is a complex and
challenging situation because there is no clear or obvious choice, and any decision made
will have ethical consequences.

Example:
An example of an ethical dilemma that students may face is whether to cheat on an exam
or not. On one hand, cheating could result in a better grade, which may increase the
likelihood of getting accepted into a desired college or university or obtaining a
scholarship. On the other hand, cheating violates academic integrity, which is an
important value that universities and colleges hold. Additionally, cheating may lead to
feelings of guilt, and it does not provide an accurate reflection of the student's abilities
or knowledge.
In this example, the student must decide whether to prioritize short-term gains or long-
term values. They must weigh the benefits of cheating against the potential
consequences and ethical implications. The student must also consider the impact of
their decision on their personal integrity, academic reputation, and future opportunities.
It is important for students to be aware of ethical dilemmas and understand how to
navigate them. By doing so, the abilities and critical thinking skills, cultivate ethical
decision-making abilities, and become responsible and ethical individuals.