What can be considered unethical in business? We all have a different moral code and a definition of right and wrong. In this class we have discussed several companies i.e. individuals who have distorted the vision and ethics of the business they are under,to fit personal agendas. We covered Tyco, Monsanto, Worldcom, and Enron as four of largest business that were under investigation and convicted for fraud, embezzlement, etc. What is ethics in business?
Business ethics is a form of applied ethics or professional ethics that examines principles and moral problems that occur within a business. This applies to all parts of business conduct.Let’s take a deeper look into what exactly is considered wrong in our business world. Monsanto was unauthorized …show more content…
It wasn’t noticed until it started to affect others.
I also did some research of my own companies, first being,
ZZZZ Best Inc. scam in 1986. The owner of the incorporation
Barry Minkow a teenager at the time, promised his carpet company would be the best and most successful. This was based off of a series of lies including more than 10,000 phony documents.
Although Minkow based his company off of unethical practices he was able to obtain 4 million to purchase and renovate an office out of in San Diego. The company went public in 1986 in soon time the incorporation obtained over $200 million in market capitalization. He served 25 years in federal prison for the fraud. Emanuel Pinez, the CEO of Centennial Technologies and his head staff in 1996 documented a2 million dollar revenue from
PC memory cards. In actuality they were sending fruit baskets to consumers. After they were recording as if they had been acquiring sales. Their stoke rose tremendously 451% and came to
$50. 50 a share on the New York Stock Exchange. The Securities
Exchange Commission estimated their overstatement at 40 million
when in actuality it lost 28 million
A total of …show more content…
In its day
HealthSouth was one of America’s largest healthcare service providers. The scandal came to the public’s attention in
March of 2003. The SEC made a claim that Healthsouth exaggerated their revenues by 1.4 billion dollars. The only reason this issue was announced was because an FBI agent acquired a tape of Scrushy stating his fraud. In a single day stocks went from $20 to 45 cents. Scrushy was omitted from all thirty six counts of fraud. Within time he was charged for bribery. Scrushy was a generous donator that ensured him a place on the hospital regulatory board.
In my own words once a company had established themselves as a reliable, organized, ethical business they gained consumers. People trust people who are trustworthy. Once the company had established themselves as unreliable, unorganized, and unethical consumers pulled out because they did not want to be a part of such a crime, perpetrator or victim. It also affected the employees even those who were not participating in the crime. Should they stay and watch the immoral actions take
place or do they gamble the chances losing their job? What should they consider wrong and right?
One of my inspirations for this paper was Jordan
Business ethics is a form of applied ethics or professional ethics that examines principles and moral problems that occur within a business. This applies to all parts of business conduct.Let’s take a deeper look into what exactly is considered wrong in our business world. Monsanto was unauthorized …show more content…
It wasn’t noticed until it started to affect others.
I also did some research of my own companies, first being,
ZZZZ Best Inc. scam in 1986. The owner of the incorporation
Barry Minkow a teenager at the time, promised his carpet company would be the best and most successful. This was based off of a series of lies including more than 10,000 phony documents.
Although Minkow based his company off of unethical practices he was able to obtain 4 million to purchase and renovate an office out of in San Diego. The company went public in 1986 in soon time the incorporation obtained over $200 million in market capitalization. He served 25 years in federal prison for the fraud. Emanuel Pinez, the CEO of Centennial Technologies and his head staff in 1996 documented a2 million dollar revenue from
PC memory cards. In actuality they were sending fruit baskets to consumers. After they were recording as if they had been acquiring sales. Their stoke rose tremendously 451% and came to
$50. 50 a share on the New York Stock Exchange. The Securities
Exchange Commission estimated their overstatement at 40 million
when in actuality it lost 28 million
A total of …show more content…
In its day
HealthSouth was one of America’s largest healthcare service providers. The scandal came to the public’s attention in
March of 2003. The SEC made a claim that Healthsouth exaggerated their revenues by 1.4 billion dollars. The only reason this issue was announced was because an FBI agent acquired a tape of Scrushy stating his fraud. In a single day stocks went from $20 to 45 cents. Scrushy was omitted from all thirty six counts of fraud. Within time he was charged for bribery. Scrushy was a generous donator that ensured him a place on the hospital regulatory board.
In my own words once a company had established themselves as a reliable, organized, ethical business they gained consumers. People trust people who are trustworthy. Once the company had established themselves as unreliable, unorganized, and unethical consumers pulled out because they did not want to be a part of such a crime, perpetrator or victim. It also affected the employees even those who were not participating in the crime. Should they stay and watch the immoral actions take
place or do they gamble the chances losing their job? What should they consider wrong and right?
One of my inspirations for this paper was Jordan