Business Ethics in the United States

3800 WordsJan 28, 201815 Pages
Abstract Business ethics are those professional and applied ethics that are applicable within an organizational framework. These ethics are related to all aspects of business functions. The functional aspects of business ethics are those related to marketing and sales, human resource management (HRM), financial reporting, legal and environmental compliance, manufacturing and supply chain management that includes ethical sourcing as well, and intellectual property. It was found that U.S businesses have traditionally engaged in self-regulated ethical practices and in recent history, Defense Industry Initiative (DDI) is the most promising self-directed effort of private corporations to devise and implement an ethical conduct. The unfortunate incidents of Enron, Halliburton, WorldCom, and Arthur Anderson have led the government to develop an active regulatory framework for the U.S businesses to comply with ethical business practices. Majority of the literature being reviewed emphasized on building an organizational culture based on ethical and responsible values. Jennings (2011) has identified the 'culture of cheating' in academic institutions as most notable cause of an increase in unethical practices at workplaces. Keywords: Business ethics, ethical conduct, corporate social responsibility (CSR) Introduction Business ethics in perspective of the U.S is a vast discipline that covers different subject issues. Main issues of business ethics can be divided into two
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