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Business Ethics in the Business World - Essay Example

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Business Ethics in the Business World Name: Institution: Abstract The business world is surrounded by individuals who are out to benefit themselves. This creates stiff competition among all the corporations present. However, the manner in which they go about getting their profits is questionable…
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Business Ethics in the Business World

Download file to see previous pages... The codes of ethics are meant to measure the extent to which organizations can go in term of looking for money. The lack of a monitoring system can lead to many organizations spiralling out of control, making society feel the extent of shrewd business people. The growth and expansion of the global community is not helping matters. It becomes harder to monitor businesses that operate across the international border lines. However, government agencies are in place to ensure the safe operation of businesses to reduce crimes that arise through business operations. As humans, it is easy to come by ethical dilemmas. In order to rise above the challenges, it is critical to make split-second decisions to protect the integrity of one’s business. This will ensure that society benefits from business conducted in an ethical manner. Business Ethics in the Business World Every business organization must have a code of ethics that it adheres to, to form a conducive surrounding for its employees and clients. This behaviour is what regulates the manner in which the organization deals with groups in its midst. Business ethics dictate how a business, not only deals with international groups, but also, its single clients. Many individuals, the world over believe that businesses are only out to make a profit for themselves. This gives businesses a poor reputation among the people they intend to serve. To some extent, this may be true. However, not every business is out for their interests (Flynn, 2008). It is the manner in which they go about getting money that questions their behaviour with regards to ethics. This paper will examine ethics in the world of business, and how they may work in favour of growing businesses. For business to be considered good business, it must adhere to the code of ethics that binds every field in the world. These ethics must be part of the business. This is to allow individuals to associate themselves with something that is legitimate and honest. Business ethics that are in place should eliminate the exploitation of poor people. These are individuals who might not have a choice as to the work they do to make ends meet. The public has a tremendous role to play in ensuring organizations play their part in following business ethics (Ghillyer, 2010). They should advocate for the growth of monitoring groups that may monitor the large corporations present. As the competitive markets expand, it is becoming harder and harder to know which corporation is following correct ethics in their business dealings (Flynn, 2008). It has become a common occurrence to hear of the hefty amounts of fines companies are paying. They are paying these fines because they violate the codes that are in place to ensure a healthy competitive market. Soft drink companies usually face the full brunt of these fines. Honesty, in today’s business world, is the farthest thing from people’s minds. Insider trading in some of the top companies allows for individuals to trade and make a killing through information provided. This is at the cost of other, less fortunate people. Many folks believe that the standards in business are no longer present. There might be some truth to these claims. There is no reliable source of information about what goes on in these businesses. Corporations want to cover up and protect their own dealings so as to make more money from innocent, hardworking ...Download file to see next pagesRead More
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