The Importance Of Ethics In Business

1803 Words 8 Pages
Register to read the introduction… It is about “moral or immoral behaviors and deals with fundamental relationships” (2014, pp. 69). “Ethical practices are guides to moral behavior” (pp. 69). The two ethical practices that are being addressed here are accounting ethics and marketings ethics.
Ethical Practices #1 Accounting Accounting ethical practices is one that I have dealth with for most of my career. We know that by law, if a company is publicly held, there must be outside audits performed. In private industry, my role was mainly to provide information requested by the exernal auditors. Fortunately, I did not encounter instances of conflict of interest within the accounting firm or self interest from the shareholders as is prevalent at times in these situations. Companies are still faced with the challenge of maintaining “honesty, integrity, fairness and responsbiliy” in their reporting (Ashe & Nealy, 2010, pp. 1). In their reseach they also cited several cases of allegations and improprieties. Some of the companies we are familiar with, “Enron, World Com, Tyco and Waste Management”. The allgegations ranged from increasing depreciation, theft, overstated expenses, hidden debts and inflated profits. These types of scandals result in the loss of public trust and confidence. (Ashe & Nealy, 2010) “Honesty, integrity and absolute accuracy in the accounting records is a requirement
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Top to bottom theories trickle down and effect how managers in all functional areas carry out these ethical behaviors. Christian executives and leaders are in my opinion more likely to be honest and transparent in their dealing with all the stakeholders.

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Lawrence, A. T., & Weber, J. (2014). Business and society: Stakeholders, ethics, public policy
(14th ed.). New York, NY: Richard D. Irwin, Inc. ISBN: 9780078029479
Thompson, A. B.(2013). A new model for brand leadership and loyalty. Journal Of
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