Essay about Mgt 498 - Ethics

910 Words Jun 11th, 2013 4 Pages
Ethics
Student Name
MGT/498
Due Date
Instructor

Ethics
A business must operate with ethics as a guiding principle to be successful and profitable. A company that is publically traded bears a responsibility of being a good steward of the profits the company earns, for the stakeholders, employees, and clients. The social aspect of a company and ethics go hand-in-hand. If a business fails to act ethically responsible, the result of that behavior can affect it socially. “The concept of social responsibility proposes that a private corporation has responsibilities to society that extend beyond making a profit” (Wheelen & Hunger, 2010, pg. 72).
When a company is established, it begins with a foundation constructed from an idea.
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83). In the present day’s failing economy it is clear to see the consequences of unethical behavior and how it affects everyone involved. Unethical behavior not only affects the business, but also the employees, the stakeholders, When a business fails there is usually a rippling affect in the community and the general population.
Enron
The best example of unethical behavior can be gathered from Enron. “Enron, in particular, has become infamous for the questionable actions of its top executives” (Wheelen & Hunger, 2010, pg. 80). What occurred with Enron and where it went wrong was the Chief Operating Officer got greedy in addition to everyone else on the corporate ladder. Enron located in Houston, Texas, was an organization that operated commodities, paper, energy, electricity, and pulp products. Manuel Velasquez, an ethics professor at Santa Clara University wrote an article commenting on the many things that went wrong because of the federal government system that was in place. The regulations consist of a business having a set of ethics, but could bend the rules or manipulate the system if needed.
The profession of business ethics has long needed a highly practical resource that is designed particularly for leaders and managers -- those people charged to ensure ethical

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