Ethical Problems in Business
PRINCIPLE:
Ethics may be termed as the inner guiding moral principles, values and beliefs people use to indicate and identify what is acceptable and appropriate behavior whilst straying away from the opposite (Jones, 2007).
However each individual may perceive different behaviors as acceptable and appropriate depending on the individual's own self-interests, attitudes, beliefs and values.
To dig further into the aspects of business ethics, it is primarily a notion for businesses to act with socially responsible. This is what we may call the amalgamation of ethical behavior with corporate responsibility to ensure any 'wrong-doing' may be called for regulatory action (Fountain, 2012).
It may be considered as the fundamental distinction between right and wrong; morality and immorality applied towards business behavior (Lawrence, Weber, Post, 2004).
PRACTICE:
As established that ethics applied towards business differentiate from an individual perspective as well as on the corporate front.
In 2000, a survey, within selected U.S. industries, stated that observations of unethical business behavior was highly evident in different aspect of the business environment,
Unsafe working conditions and deceptive sales were around 56%
50% of the survey's select industries, mishandled proprietary or confidential information
Approximately 38% violated privacy rights
Roughly 37% of the industries shipped low-quality or unsafe products
Employment discrimination was found to be at 36%
Instances of sexual harassment were estimated to be 34%
32% participated in product quality or safety test results modifications
Antitrust violations or unfair practices were identified as 32%
While environmental breaches were found to be at 31% (Lawrence, Weber, Post, 2004).
Ethical issues that arise in business may be termed as a form of business corruption.
Many of the features that define corruption (i.e. Violation of rules, omission of a task, gain for one's self-interest, done in secret etc.) form the basis of what we term as unethical behavior. (Ogrean, 2007)
More often, ethical dilemma leads to a decision which may be perceived as unethical. Here at times it is up to the employee to do what he/she perceives as the correct action or even chooses between two negatively impacting decisions (Jones, 2007).
PARTICULARS:
Many employees render that ethical issues arise due to indifference, cynicism, workload and deadline pressures, idealistic monetary...
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