Ethical Behavior Should Be Given More Priority Than Making Profits

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XXXXXXXX Consumers and the general public view companies as greedy establishments looking only to maximize its profits at any cost to the consumer, the community and the environment. While historically this has been the case and even in today’s business environment there still exist organizations that follow this doctrine; organizations that are driven solely by the selfish interest cannot survive because stakeholders have certain expectations of organizations above their ability to generate profits (Vranceanu, 2015). The challenge business with regards to ethics is the concern on whether ethical behavior should be given more priority than making profits. Some organizations view ethics and the practice of ethical behavior to be a burden to…show more content…
All seemed well with the telecommunication giant until reports surfaced about the company using unethical accounting practices and reporting standards. After an audit discovered inaccuracies in the companies reporting and concluded that an adjustment of - $3.8 billion made to be made on its earnings statement. This discovery resulted in WorldCom suspending all U.S. activates, falling into debt by 41 million dollars and eventually filing for bankruptcy. (Bizgovsociii, n.d.). The reality is that whether an organization practices ethical behavior because they want to or because they think they have to; in today’s competitive business environment consumers have more choices than ever and are choosing to do business with business that behave ethically. XXXXXXX Hofstede 's cultural dimensions theory is a framework for cross-cultural communication, developed by Geert Hofstede and led by his curiosity as a social psychologist to the compare different nations. The framework describes the effects of a society 's culture on the values of its members, and how these values relate to behavior. His theory consist of six dimensions along which cultural values could be analyzed (The Hofstede Center, n.d.). The dimensions are: Individualism which measures the degree of interdependence a society maintains among its members. It has to do with whether people´s self-image is defined in terms of

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