The Pros And Cons Of Ethical In Business

1249 Words 5 Pages
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
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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
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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

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