"It's a Good Business" by Solomon

In order for business ethics to work, the top executives and presidents of the company need to take a closer look at what the company stands for, such as Toyota. The President of Toyota stated that the company was going back to the founder’s philosophy of building a quality product and not for what profit could be earned by cutting corners and producing an inferior product. ”Moral standards deal with matters that we think can seriously injure or seriously benefit human beings.” (Velasquez, 2001) This is a big step towards instilling trust from the consumers back into a stumbling

Ethics in business addresses the ‘right’ and ‘wrong’ behaviours of business practises, and how these practices impact the employees, shareholders, the general public and the environment.

As many things in life, ethics has evolved through the history of our society. As anyone who has ever has read the news can attest, there are certain behaviors and tradition typical in societies around the world that may seem unethical and, sometimes, inhuman when seen through our ethical point of view. However, we often forget that many of those behaviors and tradition were, not only accepted, but expected in our society at one time. As our society changes over time, our moral code and compass shifts changing our outlook and tolerance for certain behaviors. And, as in other aspects of our society, the way we conduct business is no different.

Ferrell, O.C., Fraedrich, J., & Ferrell, L. (2015). Business ethics: Ethical decision making and cases (10th ed.). Mason, OH: Cengage.

While each business has a unique culture, environment, and business structure leading to the success of the company, there is always an ethical way of conducting business. We live in a domain where change is the only constant; new businesses are being created, businesses are expanding, growing in monetary value and stakeholder integration, and currently lead the success of a thriving economy. The businesses that stand apart from competitors

Every year in the United States there are many business’s that shut down due to unethical practice. There are many people who run a small business or even a multimillion business that don’t know exactly what ethics are. Ethics are rules which I will go into detail later. There are many reasons why we should follow those rules, how it effects the reputation of the company, what are the outcomes of ethical actions, and what are the outcomes of unethical actions.

This paper primarily consists of a personal response to a few questions about ethics in business. Describing the meaning of ethics sets the criteria for evaluating if actions are ethical. Looking at current and future career work, the concept of ethics is applied to predict ethical challenges. Based on this coursework, and outside research, resources will be identified that may be beneficial when business ethical challenges arise. The coursework on ethics covered law, conflict of interest, accounting, environment, finance, marketing, management, reputation, and corporate social responsibility. All of these topics are corporate concerns. Some topics may present dilemmas during the course of business. The responses in this paper

Business and ethics are often considered as opposite ends of a magnet, one in the means of seeking profit and other with the common assumption of refraining from profit maximization; so the question become is business ethics really an oxymoron? The usual perception of business ethics is very poor and pessimistic as many corporate executives say one thing yet do another. Although the maximization of self-interest and profit seeking is what drives the economy forward, but how should one’s actions be justified, is it ok to do as you wish as long as the law permits? Business managers along with other professionals have sets of ethical codes laid out and are to be followed. There is the bar set in place to monitor the practices of each

Business ethics is a major component of organizational success. Companies must strive to act in an ethical way, not only because it is the right thing to do, but also because it is required of them by their stakeholders. Stakeholders have a vested interest in the performance of the organization (Jones, 2012, p. 28), above and beyond the organization’s financial performance. While shareholders expect to receive returns for their financial backing (p. 29) and expect an organization to behave in a way that ensures those returns, other stakeholder such as consumers (p. 30), the government (p. 32) and special interest groups (Weiss, 2014, p. 13), may be more concerned with how an organization operates and whether they follow legislated and/or accepted norms of ethical behavior (p. 50). Should an organization and its leadership cultivate a culture/structure in which unethical behavior flourishes, especially in this age of heavy government oversight, that organization will not last long. This paper sets out to

The literature examines the following ethics policies: a) use of company funds and assets, b) handling of confidential information, c) personal financial interests and outside activities, and d) how to conducting business that is in compliance with organizational, state, local government, and federal laws. Also, organizations should have ethical policies that address trading stock, conducting business with suppliers and customer, kickbacks and rebates, the acceptance of gifts, bribery, destruction of company property, and the handling of the organization’s recordkeeping and retention of records. To conclude, organizations need to have policies that address disclosure of information, as well as, appropriate acceptable behavior when dealing with competitors, suppliers, and other business partners (Camps

The study of Ethics is an important branch of study. It is as important as the study of the sciences, math and business. At its core the study of ethics provides a framework to make decisions on how we conduct our lives. Almost every action we take has ethical implications that affect our own lives and the lives around us. This is important to consider in the business world, since the decisions made by business organizations can affect the lives of millions of people world wide, as well as the ecological health of the planet. The first four chapters of the text provide readers with several interesting ethical concepts that have implications for business professionals. The two topics that stood out as having the greatest potential for wide ranging effects are the historical perspective on business ethics and hiring ethical people. Studying and understanding history provides a strong foundation for making decisions in the present. Hiring decisions have as large effect on an organization’s success as purchasing or marketing decisions.

The first thing I find difficult to practice is that sometimes, an action appears to be an unethical conduct may not be one. It needs a lot of information and time to really judge an unethical conduct. In order for make right judgement on an ethical situation, a person needs gather as much as information from the persons who directly involved in the situations and filtering all the information to make the final decision. I do not think a manager or higher positional personal has enough time to find out information from persons who involved in the

The best example of unethical behavior can be gathered from Enron. “Enron, in particular, has become infamous for the questionable actions of its top executives” (Wheelen & Hunger, 2010, pg. 80). What occurred with Enron and where it went wrong was the Chief Operating Officer got greedy in addition to everyone else on the corporate ladder. Enron located in Houston, Texas, was an organization that operated commodities, paper, energy, electricity, and pulp products. Manuel Velasquez, an ethics professor at Santa Clara University wrote an article commenting on the many things that went wrong because of the federal government system that was in place. The regulations consist of a business having a set of ethics, but could bend the rules or manipulate the system if needed.

Ethics is defined as beliefs about what is right and wrong or good and bad in actions that affect others.( Therefore, unethical behaviour is behaviour that is believed to be bad or wrong actions or decisions. Other definition about ethics is ‘the activity of examining the moral standards of a society, and asking how these standards apply to one’s life and whether these standards are reasonable’ (Velasquez, 1998; pg 11). Ethics are based on personal or social beliefs. Furthermore, these beliefs are our moral standards, and moral standards differ among individuals. Thus, no one can say with certainty that a particular action is right or wrong and good or bad.

This chapter provides an overview of the field of business ethics. It develops a definition of business ethics and discusses why it has become an important topic in business education. It also examines the evolution of business ethics in North America and explores the benefits of ethical decision making in business. Finally, the chapter provides a framework for examining business ethics in this text.