Business Ethics

BusinessEthics

BusinessEthics

Cana business be ethical?

Yes,businesses can be ethical. The core order of business ethics is basedon the business decisions that are made on a daily basis. Running abusiness involves lots of decision making. Personal interests coupledwith the pressures of daily business operations means that some ofthe decisions will be morally problematic. To make and maintainhealthy business ethics, norms, beliefs, and values of life should beupheld. Ethical business behavior and decisions should promote thegreater good for human welfare, support legitimated human rights,ensure justice and fairness, promote the virtue of integrity andcommon good for all [CITATION Mar11 l 1033 ].

Goalsof competitive intelligence

Accordingto Murphy (2016), Competitive Intelligence (CI), is a field inbusiness that involvesgatheringof publicly available information from industry competitors with theaim of using the information to gain a competitive advantage. Thegoal of competitive intelligence is to discern existing potentialbusiness risks and opportunities and enable a faster reaction tocompetitors’ plans and events. Gathered information is used by theexecutive and top management to support and guide their decisions.Publicly available information is judged by the legality under whichthe information is obtained such as those gathered from companydirectories, legal filings and other existing documentations fromgovernment regulatory bodies. Corporations and individuals conductingcompetitive intelligence are supposed to refrain from illegalactivities, disclose their identity and corporate affiliation beforeany interview and provide honest and reliable information as a resultof their investigation.

Isit ethical to gather competitive intelligence?

Competitiveintelligenceisan ethical business behavior since it allows businesses to gainrelevantinsights about current market standards and practices. Competitiveadvantage goes beyond the scope of market research as analysts adhereto a strong core ethics to obtain insider information. The entireprocess is governed by transparency as analyst gain informationlegally and ethically. As opposed to spying and espionage whereinformation is acquired through secrecy and deception, competitiveintelligence is regulated by a strong sense of legality and ethic.There exists a difference between corporate espionage and competitiveintelligence and it is important to be able to understand whatconstitute each of the two undertakings.

Reference

Hanson,K. O. (Director). (2011). FiveWays to Think Ethically – Markkula Center for Applied Ethics[Motion Picture]. Retrieved October 26, 2016, fromhttps://www.youtube.com/watch?v=OTpwUUNepZc&ampapp=desktop

Murphy,C. (2016) CompetitiveIntelligence: Gathering, Analysis and Putting it to Work. Aldershot,England Burlington, VT: Gower.