The Three Roles Of Business Ethics And Consumers

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Business Ethics and Consumers Business Ethics, a specific form of ethics, was not popular until the 1970s and has gained popularity in recent years in America; however, while being popular amongst businesses and consumers many are oblivious to what Business ethics stands for (Donaldson n. pg). Consumers often assume the businesses they are supporting are ethical; furthermore, they assume the businesses have genuine concern for the consumers well being. Business Ethics is the study of proper business policies and practices regarding potentially controversial issues, such as corporate governance, insider trading, bribery, discrimination, corporate social responsibility and fiduciary responsibilities. In the United States, consumers and the government often play a big role in the acceptance of businesses and their money making strategies. The main concern for many American citizens would often be corporate America and wanting the moral and business practices to coincide. There are three parts of business ethics, …show more content…
Business ventures range from a small town home owned business to a multi-billion dollar corporation, and each of those businesses has to make ethical business decisions to potentially have a successful business. Adam Smith, author of the Wealth of Nations, suggests that business transactions rely on self-interest or profit-oriented motives rather than goodwill (Donaldson n. pg). Although living in a capitalistic society, there are still ways of ethical business practices while making profit. Profit is often viewed as a negative word to many consumers; however, when the consumer recognizes the good that comes from profit supporting a business, such as one’s family, community, or society, they often seem more willing to help (Donaldson n.

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