7/28/2019 Letter to Editor in response to the article Putting Ethics before profits by Zheng Jiayin

1/1

In no more than 350words, write a letter to the editor in response to the article Putting Ethics beforeprofits, dated 21 June 2011.

Your letter must contain

1. your opinion on whether all business graduates should be made to follow such a code.2. the feasibility of having such a code3. reasons for or against such a code

To the Editor:

Re Putting Ethics Before Profits (21 June):

I do not think that business graduates should be obligated to follow the code of ethics. While the

student-initiated oath certainly shows a heartening intent to regulate the profit-making nature of

business with the promotion of societal welfare, the code is not feasible at its current stage due to the

problematic issues of business ethics and the lack of legal framework to prosecute those who break the

code.

The ultimate aim of the oath to put business management on the same level as medicine and law,

where ethics is intrinsic in their practice is inspiring indeed, but the complexities of business ethics make

this an extremely challenging task. Business ethics isnt always a clear-cut demarcation between black and

white managers may face difficulties making the right call in situations where the interests of different

communities (e.g. separate segments of society, shareholders, workers, consumers) come at odds. Takethe example of a firm that decides to locate its factories in a rural area due to cheaper operating costs.

This can be read as unethical due to the transference of environmental damage to the country landscape,

but at the same time it creates employment opportunities for locals and brings down the price of

products for consumers. In many such cases, it is tough to decide whose well-being to serve first and

foremost. Safeguard the interests of one party and the other will be compromised.

Furthermore, pledges may indicate ones commitment to a philosophy but provide no assurance that it

will be carried through, especially when there isnt any regulatory system in place as deterrence.

Numerous factors ranging from cash-strapped desperation to greed for a luxurious lifestyle may impel

one to go against better moral judgment and commit unethical deeds, and as long as these deeds stay

within legal guidelines, offenders will not have to answer for their actions.

Therefore, I believe that a strong supporting framework of external regulation has to be established, and

the complexities of business ethics ironed out, before the code of ethics can have any far-reaching effects

as intended. If not, it would only remain an empty gesture.

ZHENG JIAYIN

Singapore, 12 October 2011