CHAPTER ONE
BACKGROUND OF THE STUDY
Ethics refers to the principles of and standard of moral behavior that are accepted by society as right versus wrong. To make the right choice, or at least the best choice from among competing alternatives, individuals must think through the consequences of their actions. Ethics can be defined as a set of
Principles of right conduct.it can also be defined as a theory or a system of moral values.Business ethics is the the application of moral standards to business situations.
Many firms have a set of policies on business conduct and legal compliance.The policies embrace ethics, internal controls,conflict of interest and a host of other areas , all of which are designed to promote good and ethical business practice.Employees are aquainted with these policies and are made to sign
Undertakings to them maintain. As a matter of policy, the company is ready to concede business opportunity in favour of its code of ethics
Business ethics has been a growth area in the business world in recent times. Before the advent of business ethics, business transactions have largely been conducted on the principle of caveat emptor, meaning buyer beware.Much has changed in recent times. The law is the most important source of ensuring that consumers receive a fair deal from retailers and manufacturers. Some of these laws in Nigeria include the PRICE CONTROL Act of 1970 as amended by the price control Act 1977; Nigeria Standard Organisation of Nigeria ACT OF 1971; National Agency for Food and Drugs Adminstration and control Act of 1974; Weight and measures ACT OF 1974 ETC. These and other laws are essentially an imposition of moral consideration on Business
Ethic theory refers to the various kinds of approaches to moral evaluation
That constitute some of the most important types of ethical standard studied
By moral philosophers. Each approach to moral evaluation employs distinct
Moral concepts and each emphasizes aspects of moral behavior that are neglected or atleast not emphasized by others.The purpose of this unit is to explain the kinds of concepts and information that each employs, identify their strengths and weaknesses and explain how these approaches can be used to clarify the moral issues that confront people in business
Four views of ethical behaviours can be distinguished; they are
Utilitarian view;it is based on the motion that ethics should deliver the greatest number of people
Individualism view; This view seeks to advance the long term self interest of individuals.
Moral right view;This emphasizes respect for and protection of the fundamental right of people
Justices view; Ethical Behaviour or decision should treat people impartially
And fairly accordingly to guiding rules and standards.The research therefore
Seek to evaluate ethics theory with a case study of Nestle Plc
STATEMENT OF THE PROBLEM
The issue of ethical standard is pivotal in every spheres of business and endeavours especially in this dispensation that the government is fighting
A war against corruption. Ethical standards shall enhance fair dealings in business transaction, promote product quality,enhance safety ,customer loyalty and patronage etc. However the level of moral decline in business transaction and activities of organisationsis a clear indication that ethical standards as fallen apart.
Therefore the problem confronting this research is to provide an evaluation
Of ethics theory with a case study of Nestle Plc.
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