Personal Values and the Market

Business is a game, which requires and demands both special strategy and an understanding special ethics. It gives main part to the profit but in the same way the ethics also plays a very important role in business because without ladder we cannot reach the high building like that without ethical thinking business cannot be done. Private morality is a respect for truth and that the closer a businessman comes to the truth he deserves more respect. According to Henry Taylor's Statement he says that Ethics of a business are game ethics, different from the ethics of religion so he means that ethics related to business are like games and they are different from religion. Ethics means dealing with moral and in that truth plays the important role so he quoted and pointed that "Falsehood ceases to be falsehood when it is understood on all sides that the truth is not expected to be spoken". In a business many businessman feel forced every day to say yes to their bosses when they furtively believe no and that this is generally accepted as permissible strategy when the alternative might be of losing the job.

Entering into a business may be like forced into a game situation because business is a game in which there are many problems and many solutions. It is fair to say that if the individual refuses to bluff from time to time and if he feels forced to tell the truth the whole truth is nothing but it is one type of heavy weakness to the business opportunities in his business dealings. It is very difficult for each and every businessman to reconcile to the trick in which he plays a part. Before any individual can make a profitable use to strategy he should understand that in this bluffing he will not lose his self-respect and will not be emotionally disturbed. If he wants to reconcile his personal identity and high standards of honesty in business he must be ethically justified by his feeling of bluff. Business is a game that is played at all levels of corporate life, from the highest to the lowest. No one should think worse of business because its standards of right and wrong differ from the current traditions of morality in our society. Now a days there are many competitors that if we do business with morality i.e. like always telling the truth and do which is good for business because sometimes which is good for business is not right for us but then also we have to do for business so like that no business can be done with ethics. It is a game and we are the players of it so we just have to play and have to keep on trying to win.

Business don't make the laws we can see distinguish between the ethical standards of business and those of churches. Critics of business regard such behavior as unethical, but the companies concerned know that they are merely playing the business game. Most Respected example of business institution is Insurance Companies. Second Example: In 1967 a key manufacturer was accused of providing master keys for automobiles to mail order customers, although it was obvious that some of the purchasers might be automobile thieves. His defense was plain and straightforward. If there was nothing in the law to prevent him from selling his keys to anyone who ordered them, it was not up to him to inquire as to his customer's motives. Why was it any worse, he insisted, for him to sell car keys by email, than for mail order houses to sell guns that might be used for murder? Until the law was changed, the key manufacturer could regard him as being just as ethical as any other businessman by the rules of the business game. According to this example we can say that he did not broke the law. We are highly in competitive industry and for business; profit is the main fixation then why we have to talk about ethics? Sometimes going according to ethics we cannot do business doing everything truthfully can not give us success in our business because to gain profit we have to tell customers many things like if we are telling that we are using the quality which is of very high standard but in business only the businessman knows which quality he is using.

If a businessman in business has become prosperous, he has sometimes departed form the strict truth in order to overcome obstacles or has practiced the more subtle deception of the half-truth or the misleading omission. Whatever he might have done but was a part of his game business if he would have not done this he might be not having the power and money he has now. Business is a game and we should always do with ethical thinking but sometimes for profit we can avoid ethics so ethics of business are game ethics, different from the ethics of religion.

Q 2 What is corporate social responsibility? Discuss Friedman's idea that it is a "fundamentally subversive doctrine" (Friedmans, reader, p64?

Corporate social responsibility is called a fundamentally subversive doctrine in a free society and thus Friedman argues that any role for business managers beyond the narrow line of profit maximization threatens the basis of free society and on that ground is ethically wrong. The simple meaning of social responsibility we can say is the responsibility of family and much other personal responsibility, which are of the individual. The business man believe that business is not concerned "mere with profit but also with promoting desirable "social" ends and has responsibilities of business and social responsibilities. A corporation is an artificial person and in this sense may have artificial responsibility but business, as a whole cannot be said to have responsibility. The first step towards the clarity to examining the doctrine of the social responsibility of business is to ask exactly what it implies for whom. The person responsible for business is individual proprietors or corporate executives who are the employee or owner of business. The responsibility is to conduct the business in accordance with their desire, which is generally to make more and more money while conforming the basic rules of the society. In a business sometimes the employers may have the different objective. Like if we say for the following examples like hospitals and schools their main aim is not to earn profit but to provide good services.

As a person, he may have many responsibilities that he recognizes that for his family, his feelings of charity, his clubs, his city, his country. He may feel encouraged by these responsibilities to devote part of his income to causes regards as worthy, to refuse to work for particular corporations, even to leave his job for Example joining his country's armed forces. If we wish we may refer to some of the responsibility like this as a "social Responsibility". But according to these aspects he is acting as a principal, not an agent