Describe why ethical consideration is suitable and needed

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In the 1960s, Milton Friedman said that the purpose of business was to increase shareholder return and that issues of ethics were not the concern of any business - the law should be complied with, morality should be strived for, but ethical consideration had no place in the business environment.

Consider the multiple publics (employees, suppliers, consumers, communities, and shareholders for example) that are involved in all business transactions.

Explain why ethical consideration IS appropriate and required when conducting business in the 21rst century.

Give some specific examples of ethical issues that confront businesses and how these might be addressed.

Reference no: EM13462775

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