Business Ethics Theories and Moral Guidance

Question: Describe about the Business Ethics for Theories and Moral Guidance. Answer: 1. Who are the key stakeholders? The key stakeholders of Iraqi Oil for Food scandal are known as Australian wheat board. An exporting monopoly of Australia and Saddam Hussein leads the Iraqi govt (Phillips Freeman, 2010). According to the governance Oil for Food program (OFFP) inquiry, AWB paid a $300 million in kickbacks to Iraqi govt. 2. What is the main ethical issue from the perspective of two of the key stakeholders? Security Council applied economic sanctions against Iraqi to create political pressure as well as withdraw Iraqi forces from Kuwait. Throughout the penalty period, Saddam government stayed uncompromising and brutal in the treatment of political opponents. The Cole inquiry relation to OFFP finds out AWB. AWB had been paying bribes to the Iraqi governments. Therefore it bans all the import of wheat from Australia to the new Iraqi government. Cole inquiry also finds out that AWB was well known about its payment as tracking fees. 3. Provide a brief analysis of the ethical issue using two ethical theories. AWB's activity was simply a cost of ruin business in high wheat demanding market of Iraqi. Clearly, economic sanctions have failed to apply sufficient economic and political pressure to change the nature of the regime (VYRYNEN, 2006). Iraqi govt refused to purchase of any wheat from US farmers as United Nations supports for the sanctions continued. The other competitors like Australia get a big chance to secure their corn shell in Iraqi. References Phillips, R. Freeman, R. (2010).Stakeholders. Cheltenham: Edward Elgar. VYRYNEN, P. (2006). Ethical Theories and Moral Guidance.Utilitas,18(03), 291-309. https://dx.doi.org/10.1017/s0953820806002056