Essay about Business Ethics
Business Ethics is emerging as one of the greatest recognized needs in business
today. No other element in business life can proﬁt so greatly for such a small investment. Ethics and corporate responsibility not only describes what a company does internally, but also shows what they did externally. If a company lack this, it can cost business dearly. In order to start looking at how to improve and sustain business ethics, we must ﬁrst ask what ethics itself is. In a simple deﬁnition, ethics involves learning what is right from wrong. Then taking that knowledge and acting on what is right. However, that’s not as straightforward as conveyed in a great deal of …show more content…
Some would deﬁne business ethics and corporate responsibilities as the following: " “Business Ethics: Moral principles concerning acceptable and unacceptable behavior by business people. Executives are supposed to maintain a high sense of values and conduct honest and fair practices with the public (2).”"
“Corporate Responsibility: the responsibility a business has to its employees, customers, shareholders and adhering to the law (3).”"
The deﬁnition for business ethic goes to show that they are based on morals. Morality is the only way that ethics should/could be based. Being honest and fair shows the general public that the company is very dependable and conducts business in a way
Page 3 of 7 that consumers can respect. The deﬁnition for corporate responsibility shows that the business needs to keep people that help it operate (employees, shareholders, etc.) happy and content. This allows the company to function better as a whole."
" Lets examine the Ford Pinto as an example. The Ford Pinto was a car that Ford made in the 1970s (4). Ford knew the car would catch ﬁre in a crash but still pushed ahead with production. This was a huge story in the late 1970s and into the 1980s, as