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