Download file to see previous pages...
Loveleena Rajeev (2009) supposed that “the lack of business ethics in the market, is the reason the world economy is presently in crisis”. Ethics, in its simplest definition is the perception of right and wrong. Our urbane and civilized world is anchored in ethical values, where without it, the society will be in chaos and disarray (Smith & Smith, 2009). It follows that business ethics “are moral values and principles, that determine our conduct in the business world” which refer to all aspects and phases in commerce (Rajeev, 2009). In a sense, it should not have been a contentious matter as the conduct of business is simply about delivering and/or exchanging advantages with the firm making profits from it, however, the emergence of “greed has led the present business scenario towards unethical business practices, legal complications and general mistrust (Rajeev, 2009)”
The need for ethical behaviour especially in business leapt from this mire of distrust. Thus the framework of ethical business practices outlines “a code of conduct that facilitates, if not encourages, public confidence in their products and services (Smith & Smith, 2009). This structure provides guiding principles in getting through ethical dilemma posed in the conduct of business to encourage fair practices and unbiased results, always putting the best interest of the concerned sectors in mind.
One such company which found itself in the middle of an ethical scandal is one of the world’s largest shoe manufacturers, Nike, Inc. The controversy was nicknamed Nike’s sweatshop as it pertained to the offshore production houses of the company which was alleged to have poor labour practices and exploitation of manpower.
Nike was born from the coming together of Phil Knight and Bill Bowerman which in its early stages imported sports shoes from Japan. In two decades, this shoe manufacturer was able to conquer about half of the world market after it
...Download file to see next pagesRead More
Ethical issues are a must for any type of business in the world today. By setting up codes of conduct and corporate values, it would enable businesses introduce formal ethics programs. In this analysis I am going to look at AIG. AIG is the largest insurer with interests in both life and life insurance and we should strive to maintain our reputation in the world.
This has caused the local community health complications. They range from cancers to birth complications and miscarriages. The company had an agreement with the previous government. In the previous regime, there were no reported complaints against the company.
A multi-national company, for example, who engages in such unethical business research practices, can send shockwaves around the world as individuals, companies, and governments base their economic decisions on the data that is presented. The article summarized in this paper discusses the ramification of unethical business behavior and the effect that this can have on the future of the corporate world, and individual, for some time to come.
They should be laid down and followed to the later by all individuals in a company in order to create a conducive and friendly working environment. According to Applied-corporate-governance (1) Company and businesses that adopt business ethics are always successful in their work.
The article, ingeniously depicts the ensuing arguments and counter argument in a manner that baffles the reader — as to whether, Maitland is in agreement with the critics or the corporations that are under attack by the critics — to
There are a myriad ways in which ethical behavior or social responsibility can be expressed. This mainly depends on the laws, social culture and responsibility. Ethics can be broadly categorized into four views: utilitarian view of ethics,