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Business ethics has been a very worthwhile course that has shown me new ways of seeing companies and products. I not only learned about the legal compliances that businesses have to address and the laws that exist to protect certain individuals, but I also learned real life events that deal with the ethical or unethical conduct of companies. Business ethics has changed my mindset from being slightly conformist to now evaluating and questioning the ethical state of any business. I am more informed now that I took the course than I was before. I learned that corporate culture influences whether a company is ethical or unethical; and that one should investigate into the corporate culture before applying for a job there in order to not be surrounded …show more content…
There are a lot of grey areas and factors to consider. The class did not give me the answers on how to solve an ethical dilemma and what one should do to be ethical. Instead, the class gave me new perspectives and factors to consider before making a conclusion about what is ethical or unethical. Different countries and businesses have standards of what it means to be ethical, which is something people have to take into consideration. What might be seen as ethical in Japan and Saudi Arabia, might not be seen as ethical in the U.S.
The course also taught me ways that businesses can control or prevent unethical behavior. A company should have an ethics officer, a hotline, a codes of conduct, an ethics program, good communication about ethics from top management, and ethical role models, to name a few. It taught me that most people will behave unethically if that behavior is rewarded and if performance relied on employees behaving
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One of the films was Milton Hershey School. Milton Hershey, after making a lot of profit in his business, decided to build a school for the orphans, which is now used for any child 4-18 with problems at home. Milton was an example of corporate citizenship and how companies can help society after they have met all the company’s needs. Overall, business ethics gave me the information and assistance to strive to be an ethical person and look into company’s ethical conduct to determine if they behave ethically or
Do you agree with Schmeltekopf that business schools are not preparing students well for the for the ethical challenges they will face in the workplace? Why or why not?
Ferrell, O. C., Fraedrich, J., & Ferrell, L. (2011). Business ethics: Ethical decision making and cases: 2011 custom edition (8th ed.). Mason, OH: South-Western Cengage Learning.
Explain the connection between the economic model of corporate social responsibility and “free market” or “neoclassical” economic theory.
Ethical behavior is behavior that a person considers appropriate. A person’s moral principles are shaped from birth, and developed over time throughout the person’s life. There are many factors that can influence what a person believes is right, or what is wrong. Some factors are a person’s family, religious beliefs, culture, and experiences. In business, it is of great importance for an employee to understand how to act ethically to prevent a company from being sued, and receiving criticism from the public while bringing in profits for the company.
For this paper Washington Mutual has been selected to show how the ethical decision making process can be achieve. When it comes to business ethics in the workplace Washington Mutual has designed what can be considered a well balanced workplace with behaviors that are aligned with their moral values and business ethics. Business ethics are sometimes depicted as resolving conflicts where one option can appear to be the correct choice. There are many different ethical dilemmas that are faced by managers and leaders everyday that are highly complex and have no clear choice or guidelines to assist in making the choices for resolution. There are times when an employee has to decide whether or not to cheat, lie, steal, or break their contract. These ethical decisions are real-life situations where they are forced to make on a daily basis. This is why it is ultimately important that all employee know the six steps to ethical decision making that the company uses.
In today’s business environment it has becomes essential for accountants to have a basic grasp of business ethics. Having the guidelines in places gives accountants a relatively consistent method of addressing ethical situation (based on interpretation). Even simply having a course dedicated to ethics shows accounting students that this is an issue which is an important part of the training and will at least give them a chance to address their own morality. As well as this, teaching morality also gives the company a level of deniability when it comes to any scandals or unethical behaviour.
Business ethics simply can be defined as the application of business values in the business practice of a company (Seawell 2010, p. 2). For a multinational company, business ethics is one of the critical aspects need to be taken into account in business decision-making processes. Failure to give attention on ethics may bring consequences on company’s reputation (Meyer & Jebe 2010, p. 159). The company is expected not only to pursue its own profits but also contributing to the environmental and social welfare of the community where it operates (Svensson & Wood 2008, p. 308).
Many ethical dilemmas are philosophical in nature, an ethical issue can be described as a problem with no clear resolution. In order to solve the issue or dilemma a consensus between the parties involved must be reached. There are several reasons to come to an agreement over an ethical dilemma, it is the basis for all aspects of personal and professional dealings. Each one of us is part of a civilized society and as such it is our responsibility to be rational, honest and loyal in our dealings with others. (Alakavuklar, 2012) states that individuals make decisions for different situations in business life involving various ethical dilemmas. Each time either consciously or unconsciously individuals may follow some ethical approaches
The Facts: Kermit Vandivier works for B.F. Goodrich. His job assignment was to write the qualifying report on the four disk brakes for LTV Aerospace Corporation. LTV purchased aircraft brakes from B.F. Goodrich for the Air Force. Goodrich desperately wanted the contract because it guaranteed a commitment from the Air Force on future brake purchases for the A7D from them, even if they lost money on the initial contract.
Ferrell, O. C., Fraedrich, J., & Ferrell, L. (2011). Business Ethics: Ethical Decision Making and Cases. Mason, Ohio: South-Western Cengage Learning.
In my workplace, one of the requirements is to turn in a report because I am in a sales department. It is very easy to alter the numbers, when people get jealous of someone hitting their revenue goal in sales, other employees lie and say that the person cheated. Of course, it gets investigated, and reputations are at stake when this happens. One thing that I got out of this assignment is that there are steps that one must follow to make an ethical decision. This assignment put into perspective for me all of the people who could be affected in an ethical dilemma. It also gave me insight into the pressures of management.
Business ethics are a set of moral rules that govern how a business operates, how people should be treated within an organization, and how business decisions are made. They are a crucial part of employment and in managing a sustainable business, mainly because of the serious consequences that can result from decisions made with a lack of regard to ethics. Even if you don’t believe that good ethics don’t contribute to profit levels, you should realize those poor ethics have a negative effect on your bottom line in the long-run. Every business in every industry has certain guidelines to which its employees must stick to, and regularly outline such aspects in employee handbooks.
Thompson, K. (2007). A corporate training view of ethics education. Journal of Leadership and Organizational Studies, vol. 13, Retrieved May 26, 2007, from http://web.ebscohost.com/ehost/pdf?vid=1&hid=108&sid=ceaedb4d-4c62-46ae-8050-9e14bc92f06f%40sessionmgr104
Business Ethics are much more than the buzz word stories on late night news. The Corporate Social Responsibility of a company goes well beyond that. “Business Ethics are moral guidelines for the conduct of business based on notions of what is right, wrong and fair.” (Bellow, 2012). Individual backgrounds play a huge role in person by person code of conduct can vary from employee to employer. To help solve some grey areas in what is ethically correct, companies now make a code of conduct that is over everyone in the company. This code of responsibility helps employees have better understanding of what is required of each and every one of them. “Corporate Social Responsibility is a business philosophy which stresses the need for