The moral order of business

Moral principles remain essential for business policies, decisions and practices. There is a growing awareness among individuals and groups and not least among the very exponents of business that this sphere of human activity also stands in need of an ethical orientation. That not with standing some scholars of business have often refused moral considerations in the sphere of their science as an undue intrusion and usurpation. Business, it is affirmed is a science in its own right just as biology or medicine hence its fundamental task is to study the laws that permit the optimum combination of means for the maximizing of the output. In this task, business enjoys its own scientific autonomy and is independent of moral considerations. These forms of reasoning judge actions according to their concrete results rather than on the basis of moral principles. Such moral problems emerge when the sole criterion of action in business is thought to be the maximization of profit. In other words, some business leaders and stakeholders whether from self-centeredness, pride, greed or anxiety reduce the purpose of business solely to maximizing of profit, growing market share or to any other solely economic good. However, in our view, we maintain that the great objective of business has to be pursued in such a way that an important part of the business leaders’ vocation is practicing ethical social principles while conducting the normal rhythms of the business world. This is meant to avoid leading a divided life whereby there is a split between one’s faith and the daily business practice. In this regard, it would be inappropriate to divorce business from ethics since the broad objective of business is to be pursued in such a way that all people are enabled to live lives fit for human beings. It goes without saying that important business decisions have more than one dimension. That is, business decisions can have an operational dimension, legal dimension, financial dimension, psychological dimension, an accounting dimension, a marketing dimension and a human resource dimension. In the same token, business decisions should have an ethical dimension if at all it has to achieve its broad objectives and become more meaningful and relevant owing to the fact that the foundational ethical principles for business are respect for human dignity and the service of the common good. The objective of this study is to show why business decisions, policies and practices stand in need of an ethical orientation with a view to having a more holistic understanding of the broad objectives of business on the basis of a strong ethical fiber given that ethics demands more from us that any other reasonable body of laws.