Corporate Ethics, A Business Asset Essay

979 words - 4 pages

1.Corporate Ethics, a Business AssetEthics in the corporate world is a key concept that has gained importance, more so in the recent years, possibly due to the very publicized and prominent scandals of 2002 concerning Enron, Aurther Anderson, and snowballed effect to another scandal of WorldCom.It created more awareness among the stakeholders which is making ethics harder and harder to ignore. The noise on Ethics in the corporate world has gained a key place not only due to the Bad guys, also due to Good guys, one such company who has been at the top of the list on the fortune 500 is GE. Other companies being Starbucks, Johnson and Johnson, Southwest…2.Ethics:2.1 What is Ethics? ;-A system of moral principles or values-Rules or standards governing the conduct of members of a profession-A matter of developing good habits-Standards of conductOrOne of those things that we conveniently forget when faced with tough choices!!??2.2Concepts of Ethics:Very Briefly:Relativism: believes in morality being relative. Under the descriptive doctrine it claims that different cultures have different moral values, under the normative doctrine it claims each culture is right in itself.Egoism: under the normative doctrine, believes one ought to act in maximizing benefit for ones self.Utilitarianism: is about good consequences, looks for maximum benefit. Ends justify the means. Corporations can sometimes end up looking at the bottom-line a little too closely being morally bound to the shareholders and use means which could prove to be disastrousDeontologism: believes that the right action is independent of consequences. Actions which are duty bound, keeping aside personal gain.Moral=YesImmoral=NoBuilds security, trust. E.g. corporation values, code of business ethics, Corporate Social responsibility, corporate citizenship.3.Corporate Ethics:A system of morals and values applied in the business world providing guidelines of acceptable behavior stated by the organizations necessary for both corporate success and a positive corporate image.-Corporate ethics involves dealings with all the stake holders in an ethical manner. TheStakeholders being employees, partners, clients, shareholders, suppliers, communities andThe natural environment.-The Guidelines are a set of values the corporate wants to be represented by through a corporate code of business ethics, the corporate social responsibility, corporate sustainability and corporate citizenship.Organizational EthicsInternal Ethical IssuesExternal Ethical Issues- Discrimination………………………………- Theft- Safety- Bribery and Corruption- Compensation- Intentionally Selling Dangerous Products- Child Labor- Environmental Pollution- Intentional Misrepresentation in NegotiationsEthics an integral part of the corporate world, an Asset.Not to be ignored for the good that it does to the organizations and the repercussions if not made an integral part...

Find Another Essay On Corporate Ethics, a Business Asset

Legal Issues, Ethics and Corporate Social Responsibility on Business Planning

931 words - 4 pages failures in many aspects of the daily operation of a business and the overall business plan of a corporation. The ongoing evaluation and analysis of the planning process is necessary to improve the overall process to keep the company in line with the latest changes in the industry. Therefore, this paper will discuss how legal issues, ethics and corporate social responsibility impact management planning at (My company).Legal IssuesBusiness plans

A Corporate Code of Ethics is Not Enough

2435 words - 10 pages After news of the scandal of Enron, one of the hottest items on e-Bay was a 64-page copy of Enron’s corporate code of ethics. One seller/former employee proclaimed it had “never been opened.” In the forward Kenneth L. Lay, CEO of Enron stated, “We want to be proud of Enron and to know that it enjoys a reputation for fairness and honesty and that it is respected (Enron 2).” For a company with such an extensive code of ethics and a CEO who

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

A Practical Guide to Evaluating Professional Business Ethics

3435 words - 14 pages "corporate restructuring" in an effort to save themselves. What business ethics involves is the plundering of natural resources, exploitation of labor in lesser-developed nations, unfair competition, impacts on the environment, treatment of employees and social responsibility.1 Business managers must keep all of these points in mind when making decisions on behalf of their organizations. This paper will look at the different factors a manager ought to

A look into the world of business ethics and a review of Albert Carr's article: "is Business Bluffing Ethical?"

1761 words - 7 pages Albert Carr's article entitled "Is Business Bluffing Ethical", explains that business is like a game with its own set of rules and ethical standards, such that deception does not apply to the business world as it does in ordinary life. In Carr's opinion, a businessperson will only succeed and be profitable in the business industry if that person follows a set of ethics, separate from society's religious ethics. These fundamental business rules

"Aristotle on Business Ethics" is a short essay on the ideas of Aristotle and how they may apply to the business ethics which we hold today

1023 words - 4 pages be stated that happiness is not reached with money. "Money is a means, not an end" (Sahakian, 34). The dominate outlook on business ethics is that first and foremost one must reach his or her required income of money before considering morality and ethics in business. This idealistic look on morality goes against the pragmatic realist views of Aristotle.One of the first issues Aristotle would confront today is that of truth in the business world

Ethics And How They Play A Part In Gaining Success In Business

817 words - 3 pages Ethics and how they play a part in gaining Success in Business To start off I would like to state two quotes the first from Napoleon Hill, Sr. and the second from Albert Carr. "If a man has built a sound character it makes but little difference what people say about him, because he will win in the end."- Napoleon Hill, Sr. What this quote means is that a man who has good ethics will be successful. In contrast to Hill's quote " Only cream

A case study on business ethics performed by Triodos Bank. -Ethical banking-

1835 words - 7 pages BUSINESS ETHICSAn analysis of Triodos bankIntroductionTriodos Bank is a social bank lending only to organisations and businesses with social and environmental objectives. Triodos Bank is well known for its innovative and transparent approach to banking. Savers at Triodos Bank know where their money is working. In 2001 the balance sheet totalled 461.841 GBP.History1968 an economist, professor in tax law, senior organisational consultant and a

Code of Ethics and Professional Conduct - This is a written code of ethics for a small business. 12 pages in length. Written for Master's level course in Organizational Ethics

3100 words - 12 pages Code of Ethics and Professional ConductAdopted by 5 Starz Corporation on 03/17/2003.PreambleCommitment to ethical professional conduct is expected of every employee, partner, supplier, and subcontractor of the 5 Starz Corporation.This Code, consisting of commitments formulated as statements of personal responsibility, identifies the elements of such a commitment. It contains many, but not all, issues that we, as professionals, are likely to face

This essay is a research essay of "Labor law OSHA", this is done for Business Ethics class

4569 words - 18 pages Republican controlled Congress. This also effected business associations such as the Chamber of Commerce and National Association of Manufacturers. They were unconvinced that additional government regulation was the right way to address the issue of work place injuries to American workers. Musculoskeletal injuries such as back injuries and carpal tunnel syndrome, account for a large portion of all serious injuries suffered by American workers. The

Tencent - A rising corporate giant that will most likely surpass Facebook. - Business Research - Research

535 words - 3 pages problems. Tencent also expanded its business to e-commerce industry by setting up a subsidiary, the Tencent E-Commerce Holding Company to get market share in the click-and-mortar and O2O market. Nevertheless, it was difficult for Tencent to penetrate the international market and be a first mover in developing new Internet services as their products are claimed to be clones of other international products. Thus, Tencent cautiously considered how they

Similar Essays

Business Ethics And Corporate Social Responsibility

581 words - 2 pages .htmlDynacare Laboratories. Retrieved August 8, 2008 from http://www.dynacare.com/Global Environmental Management Initiative and Business for Social Responsibility.(2006). GEMI-BSR Survey: Sustainable Business & Strategy: Views From theInside, ExecutiveMedical Diagnostic Laboratories, LL> Retrieved February 29, 2008 fromhttp://www.mdlab.com/html/home.htmlSchaal, D. (2008) 100 Best corporate citizens 2008. Retrieved August 8, 2008 fromhttp://www.thecro.com/node/615Weiss, J. W. (2006). Business ethics: A stakeholder and issues management approach(4th ed.). Canada: Thomson South-Western.

Business Ethics In Today's Corporate World

2985 words - 12 pages Business Ethics in Today's Corporate World Business ethics is part of today’s society whether you like it or not. There are many things happening in today’s corporate world that needs to be opinioned. Are ethical judgments merely a matter of personal opinion? Yes because we live in a free society I think that most ethical judgments are based on a matter of what you believe in. Everyone has the right to think differently. There

Business Ethics And Contemporary Corporate Thought

1692 words - 7 pages , many accused of obstruction of justice and criminalwrongdoings; this all as the company is desperately trying to avoid bankruptcy. Thiscase has promoted widespread calls for more government intervention in business ethicsand a call for more corporate reform laws.Furthermore, the Internet services company Genuity, is also toying withbankruptcy, as Verizon Inc., citing "[poor] market condition and strategic needs," (Art. 7)backed out of a deal to

Business Ethics And Value Systems Ethics In Corporate America

2625 words - 11 pages Ethics in Corporate AmericaBusiness Ethics and Value SystemsWinter 2002What turns a "fired up" professional into a "burned out" employee? If you ask a young engineer what is the role of engineering, you'll get an answer like "improving people's lives by solving real world problems." If you ask that same engineer the same question after they've been on the job for about fifteen years, you'll get a more mature perspective: "improving the company's