The Effects of Proper and Improper Business Ethics

It's difficult not to be cynical about how “big business” treats the subject of ethics in today's world. In many corporations, where the

It's difficult not to be cynical about how “big business” treats the subject of ethics in today's world. In many corporations, where the

The author Robert Solomon argues that ethics has to an integral part with regard to business management. He does not believe that business management must include unethical or illegal methods to be able to succeed. Solomon preaches that business management is not as simple as obtaining revenue. “Businesses need to abide by fair policies and their owners have to be ethical in dealing with their customers” (Shaw p. 37). The author acknowledges that while illegal practices in business management could bring positive results at first, eventually the business is bound to fail. This is why Solomon recommended eight important policies that can help businesses in integrating ethics into their operations.

As many things in life, ethics has evolved through the history of our society. As anyone who has ever has read the news can attest, there are certain behaviors and tradition typical in societies around the world that may seem unethical and, sometimes, inhuman when seen through our ethical point of view. However, we often forget that many of those behaviors and tradition were, not only accepted, but expected in our society at one time. As our society changes over time, our moral code and compass shifts changing our outlook and tolerance for certain behaviors. And, as in other aspects of our society, the way we conduct business is no different.

Three general principles will guide the move towards sustainability. Firms and industries must become more efficient in using natural resources; they should model their entire production process on biological processes; and they should emphasize the production of services rather than products. Versions of the first principle, sometimes called eco- efficiency, have long been a part of the environmental movement. "Doing more with less" has

My thesis is that the core of business is moral just as the core of any

The history of business ethics goes all the way back to the 1960s. In the 60s, there was social unrest. Employers did not show loyalty to the employees and values were cast aside (Bethel, 2016). There were environmental issues, along with drug use and tension between the employee and employer. At that time companies began to establish codes of conduct. This is when companies created values and responsibilities which would be the company’s most important objective. The 70s saw some development of business ethics. This decade, in the beginning, had escalated rates of unemployment, the company suffered through a recession as well as human rights issues. There were forced labors and the wages did not amount to much. By the end of the 1970s, the

Feldman (2012) is a retired corporate lawyer with extensive experience in his field, having served a number of American corporations and in some, having been instrumental in their development. In this particular article he describes the focus of the current crop of business organizations on the bottom-line. He believes that outsourcing, cost-cutting and downsizing activities geared towards the bottom-line forgets the impact of an active and extensive business enterprise to society - it employs, it enhances the market, in increases buying power. Current practices shrink the market and with lower employment, the buying power of society at large is impacted so that by tightening the purse strings, the likelihood of wealth creation is limited too. Once, Feldman (2012) descries that ethics, codes of conduct and mission and vision of companies were the golden rule - now, as long as the bare minimum is met, social responsibility is practiced in ways that allow for legal and political correctness only. Thus, reflecting on Whitehead's statement - "What is morality in any given time and place? It is what the majority then and there happen to like and immorality is what they dislike," it is possible to argue that the manner of business conduct by the businesses described by Feldman are immoral in a sense that majority of the American people will dislike their practice - they are after all the driving force behind outsourcing, lost jobs and prolonged recession. This of course is

Today’s business world presents numerous ethical issues. In today’s world above board/moral ethics in organizations do not often materialize intuitively. Organization must strive to provide employees with a clear understanding of the overall company vision. This will aid employees in practicing the code of ethics, policies and procedures in the workplace. Companies must be unwavering in continuously delivering the uppermost ethics of provision in which customers, applicants and employees are entitled to under fair business practices. One major core value is to uphold responsible and fair business practices.

Business Industry has witnessed the outcomes of bad moral decisions taken by business leaders. Enron’s story is only one example of corporate scandals and cases of bad moral decisions, which has not only shaken the public trust in corporations, but also affected the bank accounts of investors and employees. Before the bankruptcy of Enron; it was included in one of the fortune 500 companies after its fraudulent accounting case the share went down to $1 (Enron scandal, 2010; PBS, 2002; Godwin, 2006; Godwin, 2008).

Business morals is a particular branch of morals concentrating on how moral guidelines apply to business associations and conduct. Accordingly, it can 't be seen independently from the general thoughts of morals, and the general moral hypotheses apply to business morals too. Regulating moral hypothesis offers distinctive good speculations, each endorsing an arrangement of good decides that people can apply during the time spent choosing whether an activity is ethically right or wrong in different circumstances. Research on the part of moral speculations in business more often than not concentrates on the utilization of moral rules in HR practice, corporate social obligation strategies, and the appraisal of directors ' moral assessment. Most studies intend to distinguish essential moral decides that people can follow in business or to recommend systems of good standards to apply in choice making. These ethical standards are gotten from different customary moral hypotheses.

The overwhelming facts point to a shady underworld of self-dealing and opportunistic exploitation of the poor and working class, which was until recently, well hidden from the commoner. The executives of WorldCom and Enron provide real world examples of unethical business practices, where the desire to make money for their shareholders transcended into an addiction to greed and self-dealing that were displayed by their, “excessive pay, perks, and golden parachutes”(Carson 392) at the expense of all stakeholders. All is not lost, there are corporations that pride themselves in their sound business model and commitment to ethical business practices. Such companies as Eaton Corporation, and Weyerhaeuser, who according to Ethisphere.com, a business ethics watchdog, are among the “2010 World`s most ethical companies.” (Ethisphere)

In the modern world, two things are most sought after: goodness and prosperity. However, given the innate nature of mankind, and his compulsions towards greed and selfishness, complete morality is impossible. This idea has roots in the definitions and ideals found in utilitarianism, a term that will be defined later, and has led many to call business ethics an oxymoron. “In the US generally, the ethical road that is paved with good corporate intentions and constructive programs includes some bumps,” (McClenahen 60). Although bumps may exist, many companies are striving for excellence in this area as statistics show ethics are related to customer loyalty 's. These businesses have found that improvements can be found through understanding and action. Business leaders can increase morals by understand utilitarianism, leadership, correct forms of communication, and how these affect customers.

Business, in a very simplified definition, describes an exchange of something for another. In this context, it can be implied that there is a fiduciary understanding that the parties involved receive goods or services that are of equal value according to the appraisal system that they have agreed upon, whether it is based on units of measurement, or just mere goodwill. Thus, ethical standards that are applied in business should be in correspondence to expected moral behaviors of society, a basic equation of interdependence.

In the article “Doing well by doing good”, the words ‘business” and “ethics” has been pointed out that they can’t come together. Companies wondered where do ethics go and it has been widely wrath despite being taught in school. Ethics has been the custom yet uncertain. There are protesters in Washington, DC who were criticizing the immorality of a company including the IMF. Most people reacted that companies shouldn’t be in the business ethics at one’s convenience but should be concerned of their social responsibilities, morals and environment. The leader of market economics, Milton Friedman, stated that to increase the profits, the company has to use its resources and has to engage in activities.