My Ideas Regarding Responsible Commerce

Topics: Rupert Murdoch, Case study, Case study in psychology Pages: 6 (2200 words) Published: August 18, 2013
The purpose of this essay is to demonstrate how my ideas regarding responsible commerce have developed over the course this semester. Throughout COMM101: Principles of Responsible commerce we as students are required to develop understanding about practicing responsible and ethical Commerce. The essay begins with a reflection of my week two reflective writing tutorial exercise highlighting my limited knowledge and lack of understanding for the need to ‘engage in responsible’ business and why its so important not only for businesses but also for the stakeholders. My knowledge surrounding the subject of responsible commerce has been deepened and extended through tutorial and lecture engagement, as well as study of the textbook. My newfound understanding of this topic can be highlighted through the theory of utilitarianism. The focus on utilitarianism coupled with what we have learnt over the semester has further deepened my knowledge of responsible commerce and how corporations operate. In the final section of my essay I highlight my knowledge of responsible business and ethics through the case study of The News International phone-hacking scandal in which employees of News International were involved in phone hacking with the intent of breaching privacy for their own gain. The scandal was uncovered in 2005 and has been in the media ever since with new allegations being made years after the initial inquest. My understanding of this case demonstrates my knowledge of responsible commerce and how it has evolved during this course. During our week two tutorial we were given the task, which assessed our understanding of the need to ‘engage in responsible business’. It seemed then like such a daunting task, as my knowledge surrounding this topic was practically non-existent. By doing this task I was forced to really think about the question “What is your understanding of the need to ‘Engage in Responsible Business’? Why is it, or is it not, important?” by doing so I was able to established a starting point for my learning journey in COMM101. My initial understanding surrounding responsible business, which was that “Engaging in responsible business is important as it affects the views and opinions that are placed on the business.” This has been significantly built upon and developed, I now understand that engaging in responsible commerce is so much more than simply focusing on the views that will be placed upon the business. It includes employee satisfaction, financial performance, environmental sustainability and much more. Through the use of case studies I have been able to apply my newfound knowledge of responsible commerce to real cases. The study of Enron in particular greatly extended my knowledge, through studying the failures that Enron endured I realised the importance of honesty between not only the business and its shareholders but also the importance of honesty between the business and its stakeholders. “Being irresponsible in business may have been acceptable in the past but in todays day and age it is not.” My initial understanding of being responsible in the 21st century has been further reinforced through this course, living in an era of such globalization it is now more important then ever for businesses to engage in responsible business. My learning journey in COMM101 has transformed my understanding of responsible business.

Utilitarianism is one of the most powerful and persuasive approaches to normative ethics in the history of philosophy. Utilitarianism approaches the issue of our social relations from the perspective of the group or the whole of society. It is a moral doctrine that we should always act to produce the greatest possible balance of good over bad for everyone affected by our actions. By good, utilitarian’s understand pleasure happiness. Thus, the greatest happiness of all constitutes the standard that determines whether an action is right or wrong.

This concept of utilitarianism and my...

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The Washington Times/ Cheryl K. Chumley. 2013. Rupert Murdoch’s News Corp. settles suits over phone-hacking scandal for $139 million. [ONLINE] Available at: http://www.washingtontimes.com/news/2013/apr/23/rupert-murdochs-news-corp-settles-suits-over-phone/. [Accessed 19 May 13].
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Shaw, Barry, Sansbury , W.S, V.B, G.S , 2009. Moral Issues In Business. 1st ed. Australia: Cengage Learning Australia.
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