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Golden rule philosophy ethics
The golden rule confucious
Golden rule philosophy ethics
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Author Lucy P. Marcus tells us in this article that companies have forgotten the biggest rule a rule, if you asked a toddler they would be able to tell you it. They have forgotten the golden rule, “Do unto others as you would have them do unto you.” She points out companies and people directly and shows us what they have done in the last few years that goes against the rule. Some examples being Donald Trump and the company Theranos and how they disrespected others and are willing to come out and say it. Personally, I believe that the golden rule has been dragged through the dirt and spit on by big business people. For example, taxes are what keeps our schools going, they are what keeps people with disabilities preventing them from working …show more content…
During this article she brings in some good examples such as the company Theranos and Donald Trump, although many people may not know what the company Theranos many know Donald Trump, making this article easy for people not in the business world relate to while still keeping that target audience of those in the business and finance industry. She uses a quote from trump saying tax evasion is a smart move, however it is anything but. “The Internal Revenue Service estimated that in 2001, the tax gap was $345 billion. The tax gap is the difference between the amount of tax legally owed and the amount actually collected by the government. The tax gap in 2006 was estimated to be $450 billion. The tax gap two years later in 2008 was estimated to be in the range of $450–$500 billion and unreported income was estimated to be approximately $2 trillion. Therefore, 18-19 percent of total reportable income was not properly reported to the IRS.”Taxes pay for our roads to get fixed and many other things, this quote tells us just how much money for our roads, government workers, and many others we are missing out
...t be in business very long. But, for instance, what if RGIS was offered the chance to perform one “test” inventory for a company that had many stores and the inventory went extremely well because of the customer service levels provided? RGIS would have the opportunity to service this customer’s other stores not because of the data, but because of the service they received. This human factor played huge role in garnering business for the RGIS and yet their employees have no chance in earning any more compensation than they would have for simply putting data into a machine. Let’s look at other ethics principles and see where an example like the one above would fit in.
“Do unto others as you would have them do unto you”, that I am a firm believer of. Robert C. Solomon, in his passage “It’s Good Business”, writes about the relevance of ethics in our businesses. Solomon believes that business is fundamentally amoral or immoral. He claims that “there is nothing about ethics that requires sacrificing the bottom line”, meaning, ethics do not have to interfere with the company’s profit or loss margins. Is Solomon’s claim compatible with his statement that, “there is no guarantee that ethics is good for the bottom line”? His focus in both statements is directed towards “the bottom line” of a business.
The ethical code of an organization illustrates the importance of being honest, acting with integrity, and showing fairness in decision making (Bethel, 2015). Ultimately, “laws regulating business conduct are passed because some stakeholders believe they cannot be trusted to do what is right” (Ferrell, Fraedrich, & Ferrell, 2015, p. 95). In the last couple of years, culture has become the initiator for compliance, which means from the top down there has to be a commitment to act in a way that represents the company’s core values (Verschoor, 2015).
Our current system of taxation is a varied rate percentage based on different income brackets. Many say that it violates our constitutional rights through unequal taxation. Multiple deductions, loopholes, special rates, and a complex system of regulations all characterize our Federal Income Tax System, prompting many to question why it is still being used (Peters, 2013). The current system although bringing in over $3 trillion, taxes income multiple times, and includes the taxing of estate, labor, savings, and investments (National Priorities Project, 2013). The system itself is complex with over 20,000 pages of regulations, requiring a massive filing system, which is set up and maintained by an even larger IRS, requiring over $225 billion in compliance costs (Hall, 2001). One can be hard pressed to find an advantage in the current system, other than the fact that it provides the government with an enormous amount of funds, and it has...
It's difficult not to be cynical about how “big business” treats the subject of ethics in today's world. In many corporations, where the only important value is the bottom line, most executives merely give lip service to living and operating their corporations ethically.
Effective organizations are able to clearly define their ethical expectations by setting high moral standards, writing codes of conduct, and utilizing mentoring programs. “Masters provide your servants with what is right and fair, because you know that you also have a Master in heaven” (Col. 4:1). When organizations clearly define their ethical expectations to their subordinates, they are much more likely to treat their customers fairly. Customers who are treated fairly are much more likely to be loyal consumers of the products or services that the company provides. This helps to establish a loyal customer base that a business can depend upon, thus providing a predictable source of annual revenue. If an employer treats their employees with respect, honesty, and with candor they’ll give the customer 110% (Rion, 2001).
The Lincoln Electric company also abides by the golden rule, treat others as you would yourself, both in how it treats employees and how the company deals with other people. The first priority at Lincoln Electric is the customer, then the employee, and finally the stockholders. Usually companies put the stockholders first, because they get money from the company and own small shares, but Lincoln Electric values its customers and employees more. This makes sense, because a strong customer base...
“Ethics 101”by John C. Maxwell, is a book to help determine your standard of ethics once you enter the professional arena. The book uses a variety of situations and primarily discusses what Maxwell calls, “The Golden Rule”. This is essentially a motto to live by when making ethical decisions. The main concept of this rule is to do unto others as you would want them to do to you. This is essential to be a respectable person in the business world, but something that is often forgotten once money & power comes as the benefits of breaking your ethics.
One of the impacts of an illegal immigration on American is losing money in taxes. Because of a lack of proper documentations, illegal immigrants do not have any legal rights to work, and enjoy benefits like other employees do. Therefore, most illegal aliens find cash-paid jobs where they are not issued pay roll checks. Hence, no taxes are taken off from their income. Moreover, these types of jobs do not appear on any kinds of government records; therefore, IRS or other government agencies are unable to track down immigrants or their employees who do not pay in taxes. As reported in the Washington Post article, committee reported a net fiscal deficit of $10.4 billions in taxes or an average of $2,500 per household due to illegal immigrations (Fitzgerald). If government keeps loosing such amount of money, it could have drastic effect on the economy. Moreover, undocumented immigrants work for less than minimum wages and they also do not qualify for healthcare. Nowadays, such immigrants are a...
The term “ethical business” is seen, by many people, as an oxymoron. This is because a business’s main objective is to make as much money as possible. Making the most money possible, however, can often lead to unethical actions. Companies like Enron, WorldCom, and Satyam have been the posterchildren for how corporations’ greed lead to unethical practices. In recent times however, companies have been accused of being unethical based on, not how they manage their finances, but on how they treat the society that they operate in. People have started to realize that the damage companies have been doing to the world around them is more impactful and far worse than any financial fraud that these companies might be engaging in. Events like the BP oil
The use of taxes is one of the government's favorite ways to make its presence known in the economy. While this method seems blatantly obvious, many of the ways the government uses the money collected by taxation is not. Some of the money it takes is used to fund other programs designed to "protect" consumers and to "create" jobs. Be...
...mmunity. In addition, businesses should not play by their own rules because they would put rules to their own advantage and ignore consumer’s rights. There is no doubt that businesses want to motivate themselves to maximize profits; however, that should not be acceptable it the consumers livelihood is at stake. Businesses and organizations influence the community at large therefore they should be responsible for their community and indeed implement ethical behavior.
Many laws have been put into place to make sure corporations act ethically, so they do not harm people or the environment. Corporations have a social responsibility to follow these laws and various other ethical actions; Johnson & Johnson, considered to be one of the most admirable companies according to Fortune, is one company that included their corporate social responsibilities in their code of ethics. Their code of ethics states that executive officers cannot financially benefit from unethical transactions or that their management must be competent and ethical (Code of Business Conduct, 2015). It is important for corporations to act ethically and hold up to their social responsibility, especially within the workplace; ethics are especially
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
Business nowadays encounter with a lot of moral challenges in today’s global economy. Everyone is thriving to be more successful than their competitors, to make their next profits, to keep their job, to earn a big bonus, or to compete effectively. There exists temptation to bend lines, omit information, and do whatever it takes to get ahead of their competition. Many business employees and executives succumb. Sadly, the theme becomes...