Ethical Dilemmas faced by property professionals Essay

Ethical Dilemmas faced by property professionals - Essay Example The large retail development scenario given raises several issues in relation to the concept of acting professionally within the building and surveying profession. These ethical dilemmas issues include: First, in relation to the RICS ethical principle of integrity, there is the ethical question of the demolition of a group of historic buildings, which are used as small retail units by local independent shops, to replace them with a large retail development. The actual ethical dilemma arising under this situations, is the conflict between modernizing the economy of the large city through the construction of modern retail building that might attract large business, thus growing the economy of the city and creating employment for the locals on the one hand, and the morality of displacing the local independent shop owners by the large retail business on the other hand. According to the Theory of Ethics, basic rules can be applied to determine the right or wrong of an action (Dabson, Plim mer, Kenney & Waters, 2007:6). In this respect, the ethical theory is therefore highly concerned with the procedures, and thus the theory holds that the fairness or otherwise of an outcome, is judged entirely by the fairness or lack of fairness in the process (Dabson, Plimmer, Kenney & Waters, 2007:6). In this respect, the RICS Professional and Ethical Standard of integrity is evoked by the scenario, where the integrity question refers to the truthfulness and the honesty of any action that is taken (RICS, 2013:n.p.).