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Business ethics - Article Example

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Ethical hazard can be described as a circumstance where the actions that are of best interest to one party is detrimental to operations of another after a transaction (Conrad, 2010). This study aptly explores the…
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Business ethics
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Business ethics

Download file to see previous pages... I agree with the author’s statement that a conjunction of motive, means and opportunity creates an ethical hazard (Pendse, 2012). This approach is complimented by the definition of fitness hazard as a tendency of an entity to take undue menace whose costs are not borne on them (William, 2007).
I deem author is aiming at providing rules and procedure that will help curb ethical hazards. This is seen in the light of providing an ethical hazard marshal to minimize these tribulations (Pendse, 2012). An instance is given of the leading company, Enron. The management styles and executive decisions of the executives of the company led to an enormous financial crisis.(William, 2007). Therefore, the executives were convicted and received extensive penitentiary terms.
Although I liked the way the writer proposed the initiative of teaching ethics in business schools to curb future occurrences, I think the proposal would be essential in schools of all disciplines and not only business school(Pendse, 2012). This is because, ethical deeds are a must for the growth of any being in their job place, in households, and in their day to day actions.
In my view, I think the author is wrong in assuming that other past scandals were restricted in the corporations they occurred in since for every ethical hazard that happen other institutions and individuals suffer with it(Pendse, 2012). The difference is in the magnitude, for example, in the article the scandal at Enron destroyed, not just the company, but the rest of the world, as well (Conrad, 2010). This does not inevitably mean that other scandals that seem restrictive do not spread their downfall.
In stating that the fiscal crisis at Enron was totally “unforeseeable and unpredictable”, I feel that the author is contradicting himself. This is seen in the subsequent line where he states that Warren Buffet had previously warned of the looming danger. The danger was, as a result of the the increasing leverage and ...Download file to see next pagesRead More
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