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Business Ethics Essay

2215 words - 9 pages

Business Ethics is one of the most challenging issues facing the corporate world today, here in the United States and abroad. The corporate world has been involved in a number of ethical scandals which involves several activities, which includes tax evasion, racial discrimination, insider trading, employee drug and alcohol abuse, and many more. Business ethics has a huge impact on the survival of many organizations. "An ethical manager in the corporate world considers what is best in short term instances, but also by the long term effects a particular decision will have on its customers, suppliers, employees, the environment, and the community. The ethical decisions that managers' make is vital on his and the company's reputation" (Prickett). In this paper I will discuss different examples of unethical business ethics that consumers should be aware of."A definition of what constitutes good ethical behavior is sometimes difficult. This can be due to the fact that there are several underlying ethical theories," (Hoffman 58). Therefore there is no precise definition of what constitutes good business ethics. Ethical conduct goes beyond just abiding by the law, because conduct that is legal can still be unethical. That is why it is imperative for businesses in the corporate world to constitute what is the best ethical method for them. Ethical behavior is good for business, which is shown in a study by the Ethics Resource Center in Washington, D.C. This study shows that companies that had a written commitment outperformed by nearly nine times as high as companies that had no written commitment. (Hoffman 9)So, what constitutes a deceptive advertisement or fraudulent practice in business? Section 5 of the Federal Trade Commission (FTC) Act of 1912 gave the FTC the power to attack unfair and deceptive acts of business practice. In order to be considered deceptive under the FTC's 1983 policy on "deception," a particular practice must satisfy three criteria. The deception must involve a material misrepresentation, omission or practice. Second it must be likely to mislead a person who acts reasonably under the circumstances.Moorthy gives an example of an advertisement that clearly fits the requirements of the statute (Moorthy.43-47). The deceptive advertisement at issue here is produced by a company, which consolidates airline tickets. Ticket consolidation is a process whereby a company buys blocks of tickets at wholesale prices from airlines trying to fill flights. When one purchases from a ticket consolidator, they must register with the consolidator weeks before a scheduled trip and work up a list of possible destinations and departure dates. The week before one plans to leave, the consolidator should contact him and give him a list of flights that they think can get him on. The traveler is then obligated to accept one of the flights, even if it was not his first choice. If everything works as planned, the traveler will likely save a significant amount of...

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