The Influence of Islam on GCC Businesses and their Ethical Behavior Essay

The Influence of Islam on GCC Businesses and their Ethical Behavior - Essay Example It is evidently clear from the discussion that all Islamic countries within the GCC are expected to be ethical in ways alike to their conformist counterparts.   As mentioned in their associations, these ethics include additional working operations with skills and integrity, diligence, care, avoiding the conflict of interest just to mention but a few. As ethics and values link to the ideas of what is wrong and right in the organizational context, for Islamic countries it will also be impacted by the Islamic principles of morality and legality. As such, Islamic states of the GCC will have extra ethical dimensions coming from their adherence to the morals and laws of Shari’ah. Though major Islamic businesses have discussed problems linked to the application of laws and rules to ethical practice, the association between ethics and morality has at some limit been neglected. In GCC business transactions, when the legal and ethical values are presumed to exist, some might argue, as particular Shari’ah scholars do, that as long as the needs and stipulations of the agreement are satisfied, the business deal will be both ethical and legal. Nevertheless, this argument might not have credence as the result of business transactions can cause adverse effects on the moral and social welfare of the citizens. A particular way of relating ethics to morals is in examining the impacts of actions of companies on the society. As mentioned by Carroll and Schwartz: â€Å"a business will be ethical only if it encourages good in the society.† That same logic is used to determine the ethical activities and transactions of the GCC. Precisely, activities of the GCC business will be ethical when it enables welfare (maslahah) and morality of persons within the society. On the contrary, a particular business that poses adverse effects on either Islamic morals or welfare of the people would be seen as unethical.