Ethical Business Ethics In Business

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Although business stimulates the economy and provides millions of jobs and creative outlets, it also has a negative side. Business professionals across the globe are held to a high standard to maintain an ethical business practice. However, this is not always the case. There have been many examples and cases in history of unethical business practice. Some of the most prominent examples are Enron, Bernie Madoff, and the originator Charles Ponzi (where the term “Ponzi Scheme” coined from). In response to this, consumers demanded secure and ethical businesses. The first response to this demand came in 1912 by the creation of the Better Business Bureau (BBB). This organization seemingly was the perfect solution to the ethical dilemmas
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The BBB is one of the best known self-regulatory trade associations. There are currently 113 independent BBBs in the United States, Canada and Mexico combined. The goal of the BBB is to have an ethical marketplace where buyers and sellers trust each other (, 2015). In order to do this, they provide ratings to over 4 million businesses as well as take and investigate complaints of businesses. The rating system has changed over the past few years. Up until 2008 the company only had two ratings, satisfactory and unsatisfactory. In January 2009, the company adopted a controversial letter based rating system from William Mitchell, (former) President of the Los Angeles chapter of the Better Business Bureau. His involvement with the BBB has been a very controversial one and sparked big debates about the BBB and their ethical …show more content…
According to an article in the LA Times, Bob Richardson (director of operations for the LA BBB chapter) said that his resignation had nothing to do with the accusations and more with health concerns (Bernstein, 2010). It still all seemed too suspicious at the time. Amid all the scandals, in 2013 the BBB expelled the LA chapter, opened a new one and changed the old one to the Business Consumer Alliance (Fleming,

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