The Pros And Cons Of Ethical 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…
So this would be an issue because they are selling the wheat as NON GMO. These unethical actions lead to many people protesting their products and a dramatic loss in sales in the products that used their additives. Some of the products they grew even poisoned an entire town. Not to mention they caused $700 million dollars of damage, yet the company stayed afloat and won a majority of settlements in court. It broke trust between business and customer. Tyco produced electronics and home security. At Tyco two head employees embezzled from the company. They stole a total of
600 million dollars. They were hiding their embezzling behind bonuses and false loans that were never approved. They bribed employees to stay quiet by offering them cash, gifts, and parties. They also neglected the legal department of their business. Both employees lost their job and faced prison time.
This also lost the trust of customers while soiling the
business’ reputation. Each employee plays a key role in the company therefore they also define it.
Enron one of the most powerful energy companies in the world of course had quite the title. The company’s bad decisions scammed their consumers of 2.1 billion dollars and to lay …show more content…
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 Belfort
“The Wolf on Wall Street,” a penny stockbroker who had swindled millions from everyday Americans. He as well as the rest of his firm knowingly took place in stock market manipulation, and penny stock scams. He made more than $200 million dollars from his illegal practices. After pleading guilty and giving up all the brains to his operation he was given a short sentence. After serving his time, he made $100 million in being a motivational speaker. He spent hours preaching his business techniques and unethical practices.
Corporations of a social responsibility to their company, producers, and consumers. It is a promise to