Ethics And Unethical Business Practices - 860 Words

In the past 20 years business failures, corporate scandals, and unethical CEO’s have been in the news on a constant basis. Enron, Worldcom, Hollinger International, Tyco, and Yahoo! suffered losses as a result of unethical business practices. Key factors, such as, productivity, retention of talented employees, business credibility, and legal issues decide whether a business will be successes or unsuccessful. The organization and its employee’s ethics, direct these factors to either increase or decrease. Moral business practices are activities performed and demeanors held by a business and its workers that are considered professionally and ethically capable. These practices advance the objectives of the organization without jeopardizing the benefit of every one of its employees, clients, and even competitors. Ethical practices do not guarantee success, but without them failure is assured. Corporate executives and business owners need to realize that there can be no comp romise when it comes to ethics, and there are no easy shortcuts to success. Ethics need to be carefully sown into the fabric of their companies. Research suggests successful businesses must adhere to ethical practices because they increase productivity, promote employee retention, support credibility, and avoid legal issues. What practices affect productivity? Engagement directly affects employee productivity. Engagement is a management approach created to ensure that employees are committedShow MoreRelatedThe Ethics Of An Unethical Business Practice1370 Words   |  6 Pagesof an unethical business practice can only come forth if the head of the entity decides to turn a blind eye to what is happening within the organization. Dependent on the ethical stance of those leading the company, the concern for social responsibility will or will not be sizable. Ethical Theories. In accordance to the ethical theories that are known to society Pharmacare’s actions can be gauged on an ethical scale. The theories range from Utilitarianism, Deontology, Virtue ethics, and Ethics of careRead MoreThe Evolution Of Business Ethics852 Words   |  4 PagesThe Evolution of Business Ethics Tim Bowles OMM-640 Business Ethics and Social Responsibility Dr. Andree Swanson May 17, 2015 Abstract Just as individuals differ, so do their ethical concepts and value arrangements. Personal guidelines or policies for everyday ethical conduct. Like all policies, a code of ethics must be capable of being enforced. Just as if people, corporations and businesses too, have their ethical concepts, systematic science, and a business philosophy they must followRead MoreEthics, Corporate Social Responsibility And Fiduciary Responsibilities Essay1695 Words   |  7 Pagesleadership in business† (Archbishop of Wales calls for ethical business). It is probably the case that all businesses should sign the oath, this gives consumers to show that they are dedicated to being an ethical business. There are numerous of old businesses that can steer the new business in an unethical direction in this field. By adapting business ethic terms and look for examples in the business fields that have an ethical or unethical reputation, this will give the opportunity for the business leadersRead Mo reWhat Is Business Ethics?1294 Words   |  6 PagesMIS 6308 – Assignment: Business Ethics Essay (50 points) What is business ethics? Business ethics can be understood as codes that define the actions and behavior of the employees in an institution. Standards are set by every company to define what is accepted as ‘Right’ and each employee is expected to abide by these standards. For a business to run successfully it is important to abide by the set of standards that are defined. Companies around the world observe these ethical principles strictly;Read MoreUnethical Behavior And Ethical Behavior1519 Words   |  7 PagesUnethical behaviour and ethical behaviour are two factors that are found to be very different around the world. Ethical behaviour can be seen to come from an an individual with a high morality and proper conduct. Unethical behavior, defined as behaviour that violates generally accepted moral norms (Jones, 1991) can usually come from an individual that does not abide by the rules of morality. The professional world is where ethical and unethical behaviour is a constant topic. The profess ional worldRead MoreEthics in International Business842 Words   |  3 PagesEthics is an incredibly important aspect of domestic business. Companies and their employees need to be mindful of their decisions and actions, and how they affect others. But when business is taken to the international and global level, being conscious of ethics becomes absolutely vital. 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Without having principles one would never be able to distinguish the right from wrong and good from evil. Just as it applies to life in general, ethics is an integral part of doing business as well. When we here the term Business Ethics in our work place, we usually do not take it seriously and brush it off saying ‘it’s just a simple set of basic rules like not cheating and so on’. ThisRead MoreSituations Leading to Unethical Practices and Behavior in Accounting810 Words   |  3 PagesAccounting Situations that might lead to unethical practices and behavior in accounting There are a number of reasons which can lead to unethical behavior and practices in accounting. Unethical behavior and practices in accounting refers to when a person contravenes the rules that are designed to make sure that morality and fairness is taken into consideration in the accounting procedures of a company. A violation of these rules is what termed as unethical and should not be tolerated in any companyRead MoreWeek 2 Essay747 Words   |  3 Pagesï » ¿ Business Research Ethics William Holloway January 8, 2014 Rosa Osuoha, Ph.D Business Research Ethics Consumers in today’s society are careful about how and when to invest his or her money in today’s ever changing economy. Organizations around the world are penalized for failing to follow the new laws or sanctioned by the security exchange commission. The precautions are put in place to help protect the organizations shareholders and investors.   Ã‚  Ã‚  Ã‚  Ã‚  One