Overview Of Business Ethics Essay

824 words - 3 pages

Business Ethics
In today’s business world, organizations have an effect on many people especially in the working class of our society. They have an obligation to their employee, customers, society and the world to set a good sample of an ethical environment. It is their responsibility to conduct business in a way that is not harmful and which positively benefits as many people as possible and themselves. Although this sounds simple, and it is easier said than done, as there will always be a conflict of interest between various groups of people or organization. Any decision made by businesses need to be made with an educated awareness of the precise situation and then act according to some sort of system of principals which is ‘Business Ethics’.
What is Business Ethics?
Business ethics is exactly the same as normal ethics, and that knows what is right or wrong, and good and bad behavior. It is the study of what makes up good and bad conduct as related to business activities and values. (Kubasek, Brennan & Browne 2006) Ethics plays a very important role in one social system and basically on how the people will make their actions or decide on a particular thing on whether it is the right or the wrong thing. Ethical reflection is very important, it helps a person or a group of person understands whether the actions are right or wrong. Ethics is a very critical factor most especially when considering where the ethical standards are applied to. Aside from it, weigh results of events or decision is also another major concern because of the fact that a person has dangerously analyze whose side is needed to satisfied. There are instances that moral obligations are also measured, in which moral is defined as a universal accepted personal human behavior that allows a person to decide whether an action or decision is bad or good.
Power and Greed:
Within the past decades, there has been increasingly significant business scandals and ethical failures in the United States. Just to name a few, Savings and Loans (S&L) scandals in the 1980s and 1990s. Next came the crumple of the dot-com bubble, and then came the accounting scandals concerning Enron and WorldCom. Most recently, we have had the financial scandal and disaster of 2006-2009, whose effects have been the most damaging and significant worldwide. (Brenkert 2010) One unethical and damaging effect on investor’s retirement fund is the ‘Ponzi Scheme’ of Bernie Madoff. It is pure greed of people in power...

Find Another Essay On Overview of Business Ethics

The Theory of Business Ethics Essay

1612 words - 6 pages workers in conditions that do not comply with United States labor and minimum wage laws. This issue must be approached from all angels. First, what is ethical must be defined. Based on stakeholder theory of ethical behavior, it is a theory of organizational management and business ethics that addresses morals and values in managing an organization. Next, morals and values of an organization must be defined. According to Millard Friedman, a

Evaluation of a business code of ethics

1357 words - 5 pages Ethical behavior from employees is the foundation for a successful business. Trevino and Nelson define ethical behavior as being, "consistent with the principles, norms, and standards of business practice that have been agreed upon by society (2007, p. 16, para. 1). A code of ethics is an example of the way a company would have employees act; an instruction manual for ethical behavior. Simply possessing a code of ethics does not guarantee

Comparison of business ethics in different countries.

3362 words - 13 pages ContentsBusiness Ethics compared in three countries: U.S.A., Hong Kong, and Russia.1.Introduction2.Issues3.Importance of issues4.Advantages/disadvantages of the presence or lack of business ethics5.Safety, ethics, welfare6.Comparison of ethical business in several countries7.Conclusion--Which country is the leader of business ethicsThree Main Issues:1.What is the current knowledge and participation of each country of business ethics?2.How do the

Code of Business Conduct and Ethics

3768 words - 15 pages Code of Business Conduct and Ethics Introduction The TSYS Code of Business Conduct and Ethics (the "Code") covers a wide range of business practices and procedures. While it does not cover every issue that may arise, this Code outlines basic principles to guide all employees and officers of the Company and its majority-owned subsidiaries ("team members"). In addition, all members of the Company's Board of Directors and

Management - Business Ethics/ System of Inquiry Paper

2168 words - 9 pages In my search to find an ethics manual with my present employer was impossible. Although they have been in business for nearly fifteen years, the company I work for has failed to establish a code of conduct, which seems to me an ethical issue within itself. According to the text written by Linda K. Trevino and Katherine A. Nelson, "Research has found that employees working in organizations with codes of ethics report that they engage in less

The Importance of Ethics in Business

1471 words - 6 pages business relationships. These characteristics are the bases for our integrity. This in term identifies our character and is the basis and guidelines for how we are judged and viewed among our peers. I also believe that it is very important for an employer to hire people who possess a positive work ethics and are fanatics of integrity. This in term leads to them being fanatics of good customer service. A strong deterrent to unethical behavior

International Business: The Importance of Ethics in Business

1718 words - 7 pages business ethics is an old discipline in most parts of the world, and in most cases, is applied to the everyday business world. But in the case of China, the country of exaggerated numbers and inflated profit margins, business ethics has yet to be fully assimilated into the Chinese business culture. Business ethics is a multi-faceted approach to honesty, integrity, and straight-forwardness in the corporate world. This paper however, is concerned

Business Ethics and the Global Dimension of Business

1886 words - 8 pages Business Ethics and the Global Dimension of Business SUBJECT: Business Ethics and Global Dimensions of Business Previously, we developed the business framework and strategic business plans pertaining to the Human Resources and Operations Management. Next we need to address the organizations ethical and social obligations for the corporation on a global aspect for the new plant. Also, due to nearly 20% of the sales are anticipated to be

Starbucks versus McDonald’s Code of Business Ethics, an analysis

1099 words - 5 pages together [its] partners, customers, and the community to contribute every day (Starbucks Coffee). Starbucks takes the standards of business conduct very seriously. Starbucks “support(s) the global business ethics policy and provide(s) an overview of some of the legal and ethical standards” (Starbucks Coffee) around the world and in every store they serve their customers. Another important factor is that Starbucks welcomes diversity in its stores

Affect of Cultural Values And Personal Ethics in Business Decisions

1227 words - 5 pages standards of behavior based on the principles of Professional Ethics, which include: · Impartiality; objectivity · Openness; full disclosure · Confidentiality · Due diligence/ duty of care · Fidelity to professional responsibilities · Avoiding potential or apparent conflict of interest Even when not written into a code, principles of professional ethics are usually expected of people in business, employees, volunteers, elected

The Importance of Ethics and Values in Business Sustainability

1312 words - 5 pages Business Management Research Assignment (chapter 5 & 11) Q1: The importance of ethics and values in business sustainability: Ethics has to do with an individual’s judgment and their morals. Their ethics help us determine right from wrong. “Values are attitudes towards things like truths, justice, honesty etc.”( Nieuwenhuizen, Oosthuizen & Drotskie 2012:95) Ethics and values are important within a business organisation because they influence

Similar Essays

An Overview Of Human Resources Practices At A Silicon Valley Company As Related To Globalization, Diversity And Ethics. Mgt431.

866 words - 3 pages . Any other reporting structure could cause political or professional biases that would interfere with the operation of this impartial business unit.ConclusionThe human resource department at Varian Medical Systems is crucial to an effective and efficient company. This beleaguered department often performs a thankless job dealing with ethics, diversity issues, technology, and globalization issues. Varian has placed this business unit is a neutral

Business Code Of Ethics Essay

1587 words - 6 pages Business Code of Ethics Every organization should have a code of ethics in place as a guide for their business to follow. The code of ethics should address the major components that are important to the particular business needs. The Society of Professional Journalists has a code of ethics that guide journalists toward the proper reporting methods and protocol which is meant to ensure that fact based journalism is the result passed on to the

Globalization Of Business Ethics Essay

1860 words - 7 pages “The more one knows ethics, the more it is used and the more useful it becomes”-Plato, The quote by Plato is a reminder on just how important ethics is and how important it is to educate yourself on proper ethical practices. In the following paper I would like to look at the topic of global business ethics. Recent studies in business ethics have shown both remarkable similarities and differences across cultures with respect to attitudes toward

Different Viewpoints Of Business Ethics Essay

1951 words - 8 pages Introduction The purpose of this short paper is to compare and contrast three different peer-reviewed journal articles and one online periodical. First, the paper provides a brief introduction of the four articles. Second, the paper compares and contrasts the four articles. Finally, the author presents his views on the topic of social responsibility and business ethics before concluding the paper. Four Articles All four articles center their