Business Ethics And Social Responsibility Essay
June 1, 2022
Lastly, learning institutions must also teach business ethics in the curriculum to enhance the topic knowledge. In conclusion, the Enron case is a good illustration of how one can easily turn a fortune into misfortune. Enron Company had been built to a world class company for 16 years. However, greed, writing business ethics essay deception, and unethical behaviors brought the company down in a flash. The bankruptcy situation was a disaster since the investors and employees of the company suffered huge losses. It is prudent to understand that the cause of this menace was the lack of idea on what business ethics entails.
What is business ethics short note?
Business ethics is the study of appropriate business policies and practices regarding potentially controversial subjects including corporate governance, insider trading, bribery, discrimination, corporate social responsibility, and fiduciary responsibilities.
As such, key issues that could be sources of these topics may include divestment, relativism, environmental degradation, poverty, labor, human rights, culture, https://essayreply.com/ etc. If you have concrete knowledge on business ethics, the process of writing an essay on business ethics is generally easy and straightforward.
See Byers and Stanberry (2018, § 4.1, and especially ch. 4 itself) for more about corporations and the law. Everyone does business, of some kind or another, on a near-daily basis. And most people sell their labor by working for an employer, or for themselves. The play “Glengarry Glen Ross,” by David Mamet, tells of a real-estate company in the early 1980’s that is currently having a sales competition among the salesman in the office. The men are all not only trying to reach their own personal success, but simultaneously trying to construct their coworker’s failure. All values of work ethic and equal opportunity are challenged in this play by showing the characters, fueled by greed, trying to cheat their way to the top instead…… You could explore liability in regard to the entailed contract, expected due care, and involved social costs.
The company’s cash financial officer, Andrew Fastow, agreed to take the plea to the charges and sentenced to ten years imprisonment. Enron’s CEO, Jeffrey Skilling, was also sentenced to 24 years in prison. The court also decided to punish Arthur Andersen for his actions of stopping the auditing https://moteginc.com/buy-college-essay-online-expert-college-essays/ work. Nevertheless, Arthur Andersen also filed a bankruptcy case and later fled. Enron Company had registered tremendous growth over the years to a point that it was the most envied company in The United States. It was the leading company in energy and communication since 1985.
Helping Business Behave Morally With Respect to Consumer Safety
Kant’s deontology argues that decision-making must be guided by the consequences. The freedom to act in a morally upright way is provided for in the Kant’s deontology. It is, however, prudent to note that this freedom was lacking in the Enron case. Business students must be taught to create a legal and ethical environment for an effective working condition.
It is a study of appropriate policies that companies and employees can use. They are vital in controversial situations that involve corporate governance, fiduciary responsibility, corporate social responsibility, etc. The idea of social responsibility became prominent during the 1960s in response to changing https://www.nextsolutionsllc.com/2022/05/11/how-to-write-a-physics-research-paper/ social values. Many businesses have tried to determine what relationships, obligations and duties are appropriate between the business organisation and society. Business ethics are often regulated by law, but in some cases they provide basic guidelines that companies can follow to gain public approval.
Usefulness of a National Culture Inthe Business Issues
The Walker study found three major areas of employee concern that companies need to address in order to build a culture of stronger, more loyal relationships. They are fairness at work, care and concern for employees, and trust in employees. To achieve these goals, a values-oriented code of conduct is the necessary first step toward greater consideration of ethical issues during the decision-making process. Running a successful business, negotiating a contract, or simply dealing with clients is impossible without understanding and applying business ethics and its practices.
The fall of trade barriers has increased the level of international trade leading to the need for development and observance of harmonized business ethics. Global corporations have realized the need to formulate uniform codes of conduct and business ethics to avoid unpredictable behavior of different stakeholders in this field .
Ethical Dilemmas That Practitioners Face in the Company
The bestseller There’s No Such Thing as “Business” Ethics written by John C. Maxwell focuses on the main idea that rather than business ethics, people should focus on just plain ethics . Introduction Uber is one of the transportation companies that connects its customers, divers, as well as operators through online services .
Labor Unions Labor unions are groups or clubs of workers and employees who bond together to get good working conditions, fair pay, and fair hours for their labor. For example, in a newspaper, all the people who work the presses might all belong to one union. All of the artists, who are responsible for the artistic layout, might belong to another. These unions are usually joined together, and most unions in America are some branch of the largest labor union……
Changing the Business Ethics Culture in a Company
Law of contact is the most important section in the business law because all the business is done in forms of contract; it might be in oral, conventional, customary or in written form. Negotiations between parties make them bound to perform some obligations related to the business contract. Terms and conditions are settled and documented generally Cause and Effect Essay Format and Outline guide in the form of record by the free will of parties. Contract does not deal with illegal contracts or contracts of parties which are not entitled to legal contracts for example an insane, mad, under aged and banned in the common law to do contract. The contract which is not in accordance with general law is null and avoid with no legal status.
Choosing your suppliers carefully can be an important part of your approach to CSR. For example, you might try to use local suppliers as much as possible. This helps you to support your local community and reduces the environmental impact of your sourcing, logistics and distribution practices. Introduction I would like to start this paper by describing my journey with this course namely ‘Ethics in Business’. But to my surprise, in the first session itself, Professor Jagdish Rattnani clarified the intent of teaching ethics in…… As such, key issues to examine in this area may entail the justification of whistleblowing, duty of loyalty to the employer, effects on the employee, and potential success of whistleblowing. For hiring, one of the major ethical issue that could be studied entails discrimination in the employment criteria and the negatives impacts of different forms of discrimination.