Assignment 2

Topic: E.G.O.I.S.M

In this world, consists of a variety of human behaviour between good, bad, evil, honest and egoism. Whatever actions done are to achieve one result which is the best. In ethics, egoism occurs depending on the impacts of each situation. People may be motivated by a myriad of feelings such as anger, fear, love, compassion, pride, a sense of justice, or a desire for knowledge. In philosophy theory in ethics Egoism has two variants, descriptive or normative.

What is different between the descriptive egoism and the normative egoism?

The distinction between psychological egoism and ethical egoism reflects the contrast of "is" verses "ought," "fact" verses "value," or "descriptive" verses "prescriptive."

The descriptive egoism (Psychological egoism) is the determining motive of every voluntary action is a desire for one's own welfare. On this view, even though all actions are regarded as self-interested actions, the egoist readily points out that people usually try to conceal the determining motives for their actions because such concealment is usually in their self-interest.

1. Psychological egoism is a descriptive theory resulting from observations from human behaviour. As such, it can only be a true empirical theory if there are no exceptions.

2. Psychological egoism makes no claim as to how one should act. That all persons seek their self-interest on this theory is a purported fact, and this belief is viewed by the psychological egoist as non-moral and verifiable.

The normative egoism(ethical egoism) is the ethical that each individual should seek as an end only that individual's own welfare. The idea here is that an individual's own welfare is the only thing that is ultimately valuable for that individual.

1. Ethical egoism does not claim that all persons, in fact, seek their own self-interest; ethical egoism only claims that we should or ought seek our self-interest, even though all persons might not do so.

2. If ethical egoism is to be regarded as a theory, it must be universalized to hold for all persons.

According James Rachel, explain about common confusion concerning selfishness and self-interest

       Actions in self-interest are not necessarily incompatible with the interest of others.

For example, it is in your self-interest for everyone to be happy. If you are to help others, you must first be in a position to do so. I.e., in many instances, you have to help yourself first to obtain the knowledge of how to help others


REFERENCE
http://philosophy.lander.edu/ethics/ethical_ego.html

http://en.wikipedia.org/wiki/Egoism

http://spot.colorado.edu/~heathwoo/Phil220/egoism.html

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QUESTION 2

What is the definition of Corporate Governance?

Corporate governance the system by which companies are directed and controlled. It involves regulatory and market mechanisms, and the roles and relationships between a company’s management, its board, its shareholders and other stakeholders, and the goals for which the corporation is governed. Lately, corporate governance has been comprehensively defined as a system of law and sound approaches by which corporations are directed and controlled focusing on the internal and external corporate structures with the intention of monitoring the actions of management and directors and thereby mitigating agency risks stemming from the devious deeds of these corporate officers.

Corporate governance consists of the set of processes, customs, policies, laws and institutions affecting the way people direct administer or control a corporation. Corporate governance also includes the relationships among the many players involved (the stakeholders) and the corporate goals. The principal players include the shareholders, management, and the board of directors. Other stakeholders include employees, suppliers, customers, banks and other lenders, regulators, the environment and the community at large.

QUESTION 1

What is the definition of "business ethic" and why business ethics is considered "oxymoron"?

When a company's ethics will determine its reputation. Good business ethics are essential for the long-term success of an organization. implementing an ethical program will foster a successful company culture and increase profitability. Developing a business ethics program takes time and effort,but doing so will do more than improve business, it will change lives.

"Ethics" can be defined as the critical, structured examination of how we should behave,in particular, how we should constrain train the pursuit of self interest when our actions effect others.



While Business ethic can be defined as the critical, structured examination of how people & institutions should behave in the world of commerce. In particular, it involves examining appropriate constrains on the pursuit of self-interest, or profits, when the actions of individuals or firm affects other.

According Andrew Crane, Business ethic is the study of proper business policies, business situation,activities and decisions where issue of right and wrong are addressed.It show that all business have to concentrates on their moral standard in order to apply in their business policies, institutions and behavior.

When business people speak about “business ethics” they usually mean about things :-
(1) avoid breaking the criminal law in one’s work-related activity
(2) avoid action that may result in civil law suits against the company       
(3) avoid actions that are bad for the company image

Business ethic is not law. it is ethic in the business life "structured examination of how people and institutions should behave in the world of commerce" but business ethics are often guided by law, while other times provide a basic framework that business may choose to follow in order to gain.

Business ethic it has been claimed,is an oxymoron (Collins 1994).By oxymoron, that mean the bringing together of two apparently contradictory concepts like cheerful pessimist of deafening silence.

The main purpose of a business activity is to maximize profit. Many cases have been recorded till date on how ethics cannot be applied in business. Some of the famous cases on wrong conduct of business are the cases of Ferdinand Marcos guilty to money laundering and the cases of bribery in Malaysia.

Ferdinand Marcos, an ex-lawyer, was president of the Philippines from 1965 to 1986 before being removed from power by a popular uprising. During his reign he laundered billions of dollars of stolen public funds though bank in the US and Switzerland. It took the Philippines a massive operation, know as"Operation Big Bird," to retrieve the money (estimated as US$7.5 billion). As a memorable indication of Marcos' opulent lifestyle it is widely remembered that his wife Imelda owned over 2,500 pairs of shoes.

Bribery has become a serious issue here in Malaysia and many wrong business conducts are happening and one of the recent cases was involving the General Manager.the Sessions Court sentenced a company director to one day's jail and fined her 25,000 ringgit in default of four months' jail for bribing a TNB senior security supervisor with 5,000 ringgit.The money was to persuade Mohd Sanusi not to take legal action against the company's factory in Ulu Tiram for suspected electrical meter tampering.