Directions for replies:
I would describe my personal ethics as being honest, showing empathy, selflessness, and being respectful to others. Many of my personal ethics are carried over into my business ethics because I value the importance of this ethical behavior. If these behaviors are represented, I will most likely receive the same behavior in return. Some business ethics that may differ from my personal ethics are keeping people accountable and showing transparency (Stanwick & Stanwick, n.d.). These are important because it builds integrity and trustworthiness in a business.
I believe my mother has had the most significant influence on my ethical behavior and values. Many of my current traits have been from her influence on beliefs and values that I have grown to nourish because I see the positivity and fairness it has brought her. My current manager Joseph is a business owner and entrepreneur in a business setting. While working for him, he has influenced the value of transparency, and accountability, while showing the importance of trustworthiness in a business.
When someone is greedy, they are taking away from another person. I have never believed greed is good. However, greed has made many Entrepreneurs and corporations successful. It would be difficult for a free market economic system to survive without greed. The free market will always reward the companies that deem deserving and reduce the spoils for lesser companies (2022). This is because corporations with the highest valuation can purchase cheaper products while having a greater influence than smaller companies. These large corporate companies are always going to participate in the free market economic system; therefore, greed will continue to exist because of the executives and stakeholders of these corporations (2022).
Stanwick, P. A., & Stanwick, S. D. (n.d.). Stanwick, Stanwick. Understanding Business Ethics. 3rd Edition. Retrieved from https://platform.virdocs.com/r/s/0/doc/423351/sp/1…
Executive pay: replacing greed with good. (2022). FT.Com, https://www.proquest.com/trade-journals/executive-…
- How would you describe your personal ethics? How is that different than your business ethics?
My personal ethics revolve around my family and my faith, while my business ethics revolve around staying professional and providing for my family. They are slightly interchangeable, but I don’t go around telling people to have a blessed day and inviting them to church with me while I’m at work. I don’t let people’s actions bother me and I don’t take anything to heart at work, because I can separate my work and home life, so when I leave work, all of the problems at work stay there. This is important for my personal ethics because of working with the public, which is not always the nicest, so that i do not take that attitude home to my family.
- Describe some of the major influences in your life that contributed to your ethics and value system.
Family and faith again are two of the biggest factors that influence my ethics and values. I don’t shove my religion down others throats because when i was growing up, i steered away from most religions because of that reason. I have finally found a place that embodies everything that I always believed to be true, about just caring for others, no matter the circumstances, because that is how I want to raise my children, to prevent them from being raised the way I was raised.
- Do you think ‘greed is good’? Can a free market economic system survive without greed?
I believe greed is good to an extent. Greed to better yourself and your family, but not greed to harm others. I do not believe a free market economic system can survive without greed, because people have to work hard for their goods and services and price fairly to meet their needs, otherwise they won’t continue what they are doing. That being said, they also cannot overprice or the price will out way the demand and not benefit either the consumer or seller.