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Challenges to

Business Ethics

Presented By: Maira Jawed


Challenges from the RIGHT
This challenges stems from those
who believes the foremost duty of a
business is profit making.

Adam Smith argued that a


marketplace where people are free to
seek their own self interests, the
forces of competition produces the
goods essential to civil society.
This view was advocated by Milton
Friedman who put forward the view :
KEEP THE GOVERNMENT OUT OF
THE MARKETPLACE
This results in the forces of demand
& supply to act as an invisible hand
that restrains individual greed and
enhances productivity.
Today, when everyone is after profit
making, its hard to argue against a
free market. Friedman argue that
individual freedom and economic
freedom go hand in hand.
Moreover, he says social
responsibility is not a part of
business. Business should adhere to
there actual mission which is profits
and leave social welfare to others.
He agrees to Hobbes idea to keep
govt. out of marketplace by
conforming their activities to
Ethical Problems

It is said that profits to business acts the same way


as oxygen to body. But excess causes damage!
Too much profit, that is profit maximization without
consideration of other elements in the businesss
equation can cause problems just as too little
profit. If the focus is solely on profit maximization,
the customer can be ignored or given secondary
consideration. This can lead to poor management
decisions resulting in cutting corners on safety,
service, or product performance.
Profit maximization can cause organizational
toxicity .
Fashion is dramatically changing and so
is the negligence of owners of large
corporations.

For instance big clothing brands like H&M,


ZARA, forever21 and many more have gone so
far in profit making that they deny the
existence of dangers to the poorly paid
employees working in the garment factories in
Bangladesh for incredibly long working hours
in harsh conditions. When the workers voice
out there demands, they are beaten to death .
Rana Plaza Collapse 2013
CHALLENGES FROM THE LEFT
Critics of business activity on the left of the
political spectrum often see business as
inherently immortal.
Karl Marx based his analysis on the
desperate plight of workers in the
industrialized countries.
Unusual long working hours
Meager wage (2-3$ /day)
Complete lack of job security
Dangerous working conditions
Marx set about to discover the
causes of the misery & expresses
three criticisms with respevt to
his analysis.
1. Inevitability of the class
struggle (Bourgeoisie and the
Proletariate)
2. Surplus value theory of labour
3. Alienation of the workers
For Marx alientation of the labour
includes three things:
1. Workers are isolated from the
products that they make from there
own labour.
2.Capatalist converts the surplus
labour into more capital.
3.Workers are isolated from each other
in the struggle to fulfill there basic
necessaties.
Ethical problems
An organization where employees
are treated as non existant is too low
on ethics because the precious lives
are overlooked in the greed of
capitalism and if they protest, they
are tortured and not listened to. Still
the helpless people seek work in
such places because of extreme
poverty despite of harm to there
physical and mental health.
A powerful Silent message.

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