Tdemars_CurrentEthicalIssues_111723

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Jan 9, 2024

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Current Ethical Issues Tiffany DeMars Rasmussen University B293/MAN2062: Business Ethics Barbara Henteges 11/19/2023

Current Ethical Issues The topic of unethical business practices is often goes undiscussed and undiscovered. Roughly 23% of employees have experienced or witnessed unethical behavior. (Ivcevic, Menges, & Miller, 2020). That is roughly one in four people that feel pressured to do things that they know are unquestionably wrong. Unethical business practices can be anything from false advertisement to bribery. I will be discussing misleading product information, unfair competition, employee mistreatment, financial statement fraud and environmental harm. False Advertising Product Information False advertising is typically related to price, quality, and/or purpose. The seller or manufacturer gives you incorrect information about the product or service being purchased. There are four different types of false advertising; misleading claims, false testimonials, hidden fees or charges and lastly, bait-and-switch tactics. Misleading claims are exactly that, they promote a product or service with incorrect or exaggerated information. False testimonials occur when a business makes up positive evaluations or statements to give the impression consumers are extremely satisfied with said product or service. Hidden fees or charges are hidden in word jargon and typically in the “fine print”. Lastly, with bait-and-switch tactics usually advertise at a lower priced item, but try to sell a more expensive and different product or service. Large corporations are typically the perpetrators of false advertising although it is not limited to size of the company. False or misleading information being said or placed on products can have serious negative effects for both the business and the consumer. It not only damages trust from the consumer and diminishes brand loyalty but also exposes the businesses to legal Current Ethical Issues 2

and financial risks. (Camacho, 2023). The easiest way to avoid false advertising is to guarantee some form of evidence or support of claims can be provided. This could be ingredients list, purchases lists, functionality demonstrations, etc. Unfair Competition By definition this is conduct by a business which gains or seeks to gain advantage over its rivals through misleading, deceptive, dishonest, fraudulent, coercive or unconscionable conduct in trade or commerce. (Sims, n.d.) Unfair competition is an umbrella term. This can be anything from trademark infringement (borrowing an idea without permission) to trade libel (spreading harmful rumors to hurt a business’s reputation). For larger corporations this may not be a major issue, however it can have devastating consequences for small business owners and employees. Remedying tools to prevent this such as court issued injunctions. These are essentially like a legal “stop sign”. (2023) Employee Mistreatment This can consist of spoken and written statements, as well as expressions and gestures. This can be face-to-face or via electronic means. (Spector, 2019) Mistreatment can be acts that attack, demean, or insult people at work, it can also be both sexual and non-sexual in nature. From personal experience employee mistreatment effects, the business by causing a revolving door effect. As well as employees, as they tend not to stick around very long if they are being treated poorly or being harassed. Employee mistreatment can be committed by anyone within the company but most often comes from a higher position within the company. This could be a manager, supervisor, or owner, it could also be an employee in the same or a similar position. I believe the best way to

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