A Universal Set Of Ethical Standards For Business Essay

2. Laws must be static and unyielding in order to provide stability for a society.

closing the stores they could have done community outreach or service projects to help lower the rate of crime. They could have led the establishment of a neighborhood crime watch. They could have set up a mentorship program for teens at risk. There are a multitude of programs they could have implemented, some could probably have been used as a tax write off. If all of these efforts failed then I understand closing the stores. If they had to close the stores they should have made every effort to be sure that the displaced employees were able to find a job in another store or assisted them in being placed in another job. They also need to make every attempt to keep the building they were using occupied or cleaned up until it is occupied. How do these actions contribute to being socially responsible? It shows they care about their community, that even though they may have to shut down a store, they still

Ethics and moral obligations are issues we all encounter at one time or another. In the professional setting, all people should act in a manner that would uphold the good of society. To be ethical, one has to determine their obligations, moral ideas, and moral philosophy (Boatright, p. 19, 2009). The case analysis involving Jacob Franklin was a perfect example of how an individual can face the dilemma of doing what is right or wrong. Businesses have their own code of ethics, and the employees within the business have to determine whether or not they will follow the company’s code of conduct. I will discuss several ethical issues in the case analysis including; failure to report information, remaining silent regarding faulty equipment,

Ethics must be global, not local. In order to build a truly great global business the leaders need to bring forward a global standard of ethical practices.

an action can't be right if the people who are made happy by it are outnumbered by the people who are made unhappy by it.

32: List and explain Nash’s, Drucker’s, Buffet’s, Blanchard's and Peale’s comprehensive approach for resolving ethical dilemma

Therefore, Market West accepted the corporation stock as partial debt. Hooper and Yoder agreed to add Brian Bradley who worked for Market West as the third director. Hooper colluded with Bradley and violated a fiduciary duty to Yoder by issuing 95 shares of stock to himself, 5 shares to Bradley, and none to Yoder. Furthermore, Hooper got paid $141,000 salary from the business without Yoder knowing. More importantly, Hooper and Bradly voted to force Yoder to leave the corporation. After Yoder found out that Hooper broke their agreement, violated Yoder’s rights and duties, acted dishonestly, and made unethical decisions, Yoder sued Hooper and Beautiful Daydreams in the District Court. Under the common law, with these facts, the court supported Yoder and ordered Hooper to give back one-half of the salary plus one-half of the shares of stock to Yoder.

The notion of ethics deals with people’s behaviors within a company. Social responsibility involves a company’s moral obligations and the manner in which the organization makes its decisions. Although ethics and social responsibility are similar on a conceptual basis, each has its own unique characteristics that express their differences and its independence of the other. Ethics and social responsibility have to be present and coincide with one another for a business to be ethically sound.

Ethics in any industry is important, but for Accounting professionals and those in need of their services, it is a particularly stressed element. Information provided by accountants is used to make major decisions, including investing, downsizing, expanding, etc, so accountants are expected to be competent, reliable, and have a high degree of professional integrity. Because of these high expectations, the professional accountancy industry, like many other professions, has adopted professional codes of ethics (Woelfel, 1986). These ethical codes go above and beyond the requirements for state or federal laws and regulations. There are several professional organizations within the

When considering corporate American and its business crisis of integrity many people seem to cerebrate that ethics is mainly about staying out of trouble. Any explication they give concerning the role of ethics in business today will ineluctably feature a discussion of compliance, licit liability, and the Federal Sentencing Guidelines. The great cogitators of the past had a very divergent perspective. Ethics is not mainly about staying out of trouble. It’s about engendering vigor: vigor in individuals, in organizations, and in relationships with clients and suppliers.

2. Ethical Issues in Business. It seems that every day in the news we are hearing of new company that has acted at least unethically and possibly illegally in the operation and financial reporting of their company's business dealings. There are many ethical issues in business. One major issue that we see is over and under reporting net income. Companies like to show that every quarter the net income of the business has an increase or profit. In order to show this they adopt unethical or illegal means in the operation and financial reporting. One such method is the indiscriminate use of stock options for employees that enable companies to take employment costs off balance sheet and inflate earnings. With the recent ethical issues we have

The objective of this report is to highlight the importance and need of ethics, ethical leadership and organisation behaviour. The report is based on the speech of Michael Hackworth.

* Nearly ¾ say understaffing has created problems such as stock-outs, messy stores and poor customer service;

In this situation there are many ethical issues to consider. First of all the whole story is about Jane, the superior of Ralph who has a problem with alcoholism. The request from the detoxication center is the first ethical issue for Jane. If she urges Ralph to submit this blood test he would probably be known as an alcoholic and eventually saved in an industry wide database. Due to the fact that it looks like he could get a new job at a competitor, it wouldn’t be good to be known as an alcoholic, because of the fact that new employees with a preexisting condition such as alcoholism are not qualifiable for reimbursement for treatment of

Ethics is the branch of philosophy that deals with the principles correlated to human behavior concerning the rightness and wrongness of specific conduct, and to the good and bad that influences and ends those actions (Ditonary.com, 2011). In other words, ethics is the choice people effect in regards to a decision they need to achieve. Without ethics directing the choice an individual makes, moral preferences of what should or should not be done becomes irrelevant. While ethical decisions are made every day there are two different regions in which these choices are made.