Current Ethical Issues in Business
There are several factors that account for the changes in the way business is conducted today. Factors such as increased global competition, economic conditions, technology, electronic commerce, workforce diversity, and ethics have all play a significant role in how business is conducted. How a company conducts itself as a business and a corporate citizen is critical to its success. Wal-Mart is the largest retailer in the world; however they are not exempt to acting ethically. In December 2008, Wal-Mart settled 63 laws suits that spans over several years across 42 states accuses Wal-Mart of cheating workers on pay. The settlement cost Wal-Mart $352 million. Based on comments…show more content…
The company has put so much stress on the managers to do the right thing that now it has become an unethical practice. The theory that comes in to play is the goal based theory the managers and the company were only worried about the outcome. Now the company has to worry about all the people coming together and suing the company for lost wages. The impact that this could have on society is that fact that the company may lose the integrity and trust from the public. The company stock may drop so therefore the people that own stock will lose some money. What has happened in the company not only will affect the employees but will affect the business because when society gets word of the things that were done, the shopping will stop. Prices might even go up so the consumer will have to purchase less and that will always hurt any business when you stifle how much the customer can buy. The theory that comes to mind would be the goal ethical theory because it seems like the managers or the company was only looking out for the outcomes of the business. This type of concern is so unethical because it affects so many other people. This time the employees were affected and the company acted improperly.
Ethical Change, Deficiency, and Conflict Wal-Mart was accused of forcing some hundreds to thousands of current and former workers to work off the clock and exhibiting poor wage practices which resulted in multiple