Business and Morality in a Free Society - 275 Words

Business and Morality in a Free Society (Essay Sample) Content: Name:Course:Institution:Instructor:date:Title: Business and Morality in a Free Society: Capitalism Is the Most Productive, Efficient, and Moral Economic System.Section 1After the collapse of Soviet Communism, few would deny the fact that capitalism is the most productive and efficient economic system. However, others still strongly believe that capitalism is not a moral economic system. Proponents of capitalism argues that it is based on freedom of choice hence it acts a highway to the best environmental for morality and character development. In business, the concept of freedom also applies. No economic system can make business good but the best that it can do is to allow people to be good. Therefore, morality and virtue dictates that business be free to be immoral and of bad deeds. Only business which has freedom to choice its operation can be moral; and this is what capitalism allows. Accordingly, capitalism permits individuals and businesses to reduce their time spend on physical concern, leaving them more time to engage in higher objectives.Section 2aThe moral issue that the article is talking about is the freedom in business that will arise as a result of capitalism. According to the article, even though capitalism cannot guarantee a moral society, it is necessary for one. An achievement in business is a reward of moral behavior. Business and the entire stakeholders have moral obligations. They should ensure that the natural rights of the customers, partners, competitors and local community is respected accordingly. 2b)Taking a multinational such as Samsung Mobile, the concept of business morality has to come into limelight. I believe most of the markets that Samsung mobile operates in are capitalist society. As a multinational company, Samsung should not engage or support activities that will coarse consumers even though those activities might increase its profit margin. The free market rewards tolerant, honest, cooperative, open, trustw orthy, realistic, creative and fair business. Misleading customers, dishonesty towards other business or mistreating workers have serious consequences on the business (Selekman Benjamin, 22).