Essay about Ethical Issues in Business

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,

There are numerous factors that can impact the long-term equilibrium, such as changes in supply. Generally the supply will increase and a new equilibrium will be found. Yet if a unanticipated event occurred that prevented an increase in supply being available for the market, then we can expect a different adjustment. A great example would be, if a hard freeze eliminated Brazil’s premium coffee crop. That would cause a negative shift in the supply curve. Assuming demand remains constant, a negative shift in the supply curve will cause quantity to decrease and equilibrium price to increase. Brazil is responsible for approximately 25% of the world’s coffee supply. According to coffee research.org “ news of Brazil coffee frosts echoes around the world within a matter of minutes. Correspondingly, coffee prices usually jump due to expectations of a worldwide coffee shortage.” ("Coffee frosts," 2001)

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.

The problem to be investigated is the application of business ethics. In the business world, ethics are extremely important. Ethics are prime elements that help a business to grow and to become more productive. It is by applying proper business ethics that a business can operate in a moral or ethical business environment and managed to conduct all activities in a manner that maximizes profits while not compromising all other non-economic concerns(Schwab, 1996). Businesses have over the years failed to nurture business ethics in order to fulfill shareholders' interests and to have a culture that is oriented towards profit maximization and high performance(Jennings, 2012; Sims & Felton, 2006). This has led business to have gray areas in their activities. Gray areas are those situations or problems that do not fit exactly into any ethical analysis. These are the activities which may be represented to be immoral as a result of lying and false representations on the part of the business.

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.

All of the following are considered exceptions to the general rule that there is no duty to rescue except:

Ø Give some specific examples of ethical issues that confront businesses and how these might be addressed.

These shifts in supply and demand would influence price, quantity, and market equilibrium because of the natural disasters, shift in prices or speculation the supply of coffee decreases, which would cause a significant product shortage for consumers. Due to a shortage, consumers would to pay higher prices in order to purchase coffee and all coffee producers would then demand a higher price in order to produce more products. Higher prices are beneficial to the producers of the product, but consumer would purchase fewer products. Lower product pricing would discourage coffee production, but would benefit consumers. Both supply and demand would balance consumption, which is demand and production, which is supply.

“We have always known that heedless self-interest was bad morals; We know now that it is also bad economics”

The object of this essay is to establish whether there is an ethical theory that can be successfully applied to business organizations. In order to answer this question, it is necessary first to define the major ethical theories, which are utilitarianism, deontology and virtue ethics, before determining whether there are any other options. After that, the ethical needs, problems and limitations of work organizations will have to be examined so that the different theories can be evaluated in this context. It will also be important to draw a distinction between the terms “accurate” and “useful” as these actually result in two different questions the answer to which need not necessarily be the same. Another essential part of this discussion

Every organization also has a profession responsibility to conduct business honestly and ethically. Our readings reported, “Experts estimated that U.S. companies lose about $600 billion a year from unethical and criminal behavior” Kinicki and Kreitner (2009). The organization could avoid having ethical issues by meeting the

In business everyone has the power with their ability to spend an amount of money. People have the capacity to change situations in which many individual does not. As an organization may affect some people, they might have the obligations to their employees, consumers, community and the outside world. They have the responsibility to manage or control the business in a way that it will not harm, positively the benefits like people as possible and themselves. This can be simple, there may always be a conflict of interest between various groups of people. Each decision made by business man or woman has to be made with an informed awareness of the specific situation and then act according to some sort of system of principals, which is Business Ethics.

Important Note: This sample essay mainly illustrates the structure of your assignment on ethical issues of a company selected by you. You may first identify two or three ethical problems and then discuss how to solve them. Remember including relevant citations to support your evidences and viewpoints.