business ethics essay introduction

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What Are Business Ethics & Why Are They Important?

Business professional pressing a graphic that reads "Business Ethics" and is surrounded by icons

27 Jul 2023

From artificial intelligence to facial recognition technology, organizations face an increasing number of ethical dilemmas. While innovation can aid business growth, it can also create opportunities for potential abuse.

“The long-term impacts of a new technology—both positive and negative—may not become apparent until years after it’s introduced,” says Harvard Business School Professor Nien-hê Hsieh in the online course Leadership, Ethics, and Corporate Accountability . “For example, the impact of social media on children and teenagers didn’t become evident until we watched it play out over time.”

If you’re a current or prospective leader concerned about navigating difficult situations, here's an overview of business ethics, why they're important, and how to ensure ethical behavior in your organization.

Access your free e-book today.

What Are Business Ethics?

Business ethics are principles that guide decision-making . As a leader, you’ll face many challenges in the workplace because of different interpretations of what's ethical. Situations often require navigating the “gray area,” where it’s unclear what’s right and wrong.

When making decisions, your experiences, opinions, and perspectives can influence what you believe to be ethical, making it vital to:

Be transparent.
Invite feedback.
Consider impacts on employees, stakeholders, and society.
Reflect on past experiences to learn what you could have done better.

“The way to think about ethics, in my view, is: What are the externalities that your business creates, both positive and negative?” says Harvard Business School Professor Vikram Gandhi in Leadership, Ethics, and Corporate Accountability . “And, therefore, how do you actually increase the positive element of externalities? And how do you decrease the negative?”

Related: Why Managers Should Involve Their Team in the Decision-Making Process

Ethical Responsibilities to Society

Promoting ethical conduct can benefit both your company and society long term.

“I'm a strong believer that a long-term focus is what creates long-term value,” Gandhi says in Leadership, Ethics, and Corporate Accountability . “So you should get shareholders in your company that have that same perspective.”

Prioritizing the triple bottom line is an effective way for your business to fulfill its environmental responsibilities and create long-term value. It focuses on three factors:

Profit: The financial return your company generates for shareholders
People: How your company affects customers, employees, and stakeholders
Planet: Your company’s impact on the planet and environment

Check out the video below to learn more about the triple bottom line, and subscribe to our YouTube channel for more explainer content!

Ethical and corporate social responsibility (CSR) considerations can go a long way toward creating value, especially since an increasing number of customers, employees, and investors expect organizations to prioritize CSR. According to the Conscious Consumer Spending Index , 67 percent of customers prefer buying from socially responsible companies.

To prevent costly employee turnover and satisfy customers, strive to fulfill your ethical responsibilities to society.

Ethical Responsibilities to Customers

As a leader, you must ensure you don’t mislead your customers. Doing so can backfire, negatively impacting your organization’s credibility and profits.

Actions to avoid include:

Greenwashing : Taking advantage of customers’ CSR preferences by claiming your business practices are sustainable when they aren't.
False advertising : Making unverified or untrue claims in advertisements or promotional material.
Making false promises : Lying to make a sale.

These unethical practices can result in multi-million dollar lawsuits, as well as highly dissatisfied customers.

Ethical Responsibilities to Employees

You also have ethical responsibilities to your employees—from the beginning to the end of their employment.

One area of business ethics that receives a lot of attention is employee termination. According to Leadership, Ethics, and Corporate Accountability , letting an employee go requires an individualized approach that ensures fairness.

Not only can wrongful termination cost your company upwards of $100,000 in legal expenses , it can also negatively impact other employees’ morale and how they perceive your leadership.

Ethical business practices have additional benefits, such as attracting and retaining talented employees willing to take a pay cut to work for a socially responsible company. Approximately 40 percent of millennials say they would switch jobs to work for a company that emphasizes sustainability.

Ultimately, it's critical to do your best to treat employees fairly.

“Fairness is not only an ethical response to power asymmetries in the work environment,” Hsieh says in the course. “Fairness—and having a successful organizational culture–can benefit the organization economically and legally.”

Leadership, Ethics, and Corporate Accountability | Develop a toolkit for making tough leadership decisions| Learn More

Why Are Business Ethics Important?

Failure to understand and apply business ethics can result in moral disengagement .

“Moral disengagement refers to ways in which we convince ourselves that what we’re doing is not wrong,” Hsieh says in Leadership, Ethics, and Corporate Accountability . “It can upset the balance of judgment—causing us to prioritize our personal commitments over shared beliefs, rules, and principles—or it can skew our logic to make unethical behaviors appear less harmful or not wrong.”

Moral disengagement can also lead to questionable decisions, such as insider trading .

“In the U.S., insider trading is defined in common, federal, and state laws regulating the opportunity for insiders to benefit from material, non-public information, or MNPI,” Hsieh explains.

This type of unethical behavior can carry severe legal consequences and negatively impact your company's bottom line.

“If you create a certain amount of harm to a society, your customers, or employees over a period of time, that’s going to have a negative impact on your economic value,” Gandhi says in the course.

This is reflected in over half of the top 10 largest bankruptcies between 1980 and 2013 that resulted from unethical behavior. As a business leader, strive to make ethical decisions and fulfill your responsibilities to stakeholders.

How to Implement Business Ethics

To become a more ethical leader, it's crucial to have a balanced, long-term focus.

“It's very important to balance the fact that, even if you're focused on the long term, you have to perform in the short term as well and have a very clear, articulated strategy around that,” Gandhi says in Leadership, Ethics, and Corporate Accountability .

Making ethical decisions requires reflective leadership.

“Reflecting on complex, gray-area decisions is a key part of what it means to be human, as well as an effective leader,” Hsieh says. “You have agency. You must choose how to act. And with that agency comes responsibility.”

Related: Why Are Ethics Important in Engineering?

Hsieh advises asking the following questions:

Are you using the “greater good” to justify unethical behavior?
Are you downplaying your actions to feel better?

“Asking these and similar questions at regular intervals can help you notice when you or others may be approaching the line between making a tough but ethical call and justifying problematic actions,” Hsieh says.

How to Become a More Effective Leader | Access Your Free E-Book | Download Now

Become a More Ethical Leader

Learning from past successes and mistakes can enable you to improve your ethical decision-making.

“As a leader, when trying to determine what to do, it can be helpful to start by simply asking in any given situation, ‘What can we do?’ and ‘What would be wrong to do?’” Hsieh says.

Many times, the answers come from experience.

Gain insights from others’ ethical decisions, too. One way to do so is by taking an online course, such as Leadership, Ethics, and Corporate Accountability , which includes case studies that immerse you in real-world business situations, as well as a reflective leadership model to inform your decision-making.

Ready to become a better leader? Enroll in Leadership, Ethics, and Corporate Accountability —one of our online leadership and management courses —and download our free e-book on how to be a more effective leader.

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General Essays

Business Ethics Essay

Author Kimberly Ball
Category General Essays

Disclaimer: This paper has been submitted by a student. This is not a sample of the work written by professional academic writers.

Any opinions, findings, conclusions or recommendations expressed in this work are those of the authors and do not necessarily reflect the views of StudySaurus.

Introduction

Business ethics or corporate ethics is a form of moral ethics that examines the conduct of people and individuals in a business set up (Weiss, 2014). These norms are the key guidelines to the way things are done in individual and communal businesses, and it helps in improving the relationship of the business with its stakeholders. The core purpose of any company is to maximize shareholder returns, and this is only made possible by having the business impress its customers effectively and treat them fairly such that the net sales remain at a high level (Ferrell & Fraedrich, 2015). It is common to find various ethical issues arising in a business, situations where the management has to decide on the suitability or morality of actions that will be taken in the business. During such ethical dilemmas, the officials are expected to make the best decision that is aimed at winning the affection of the customers (Weiss, 2014). Taking the example of ford, the car producing company that was faced with an ethical dilemma due to the production of defective products, the decision made in such a scenario, if proper business ethics are adhered to, could make the company maintain its high clientele, of which the opposite also applies.

Case Analysis

One of the known business ethics cases of the international companies is the ford pinto case, in which ford’s design of the Pinto’s fuel tank is defective, in a way that it makes the Pinto to be highly susceptible to fire accident. Rear-end collisions for the Pinto, whether minor or major leads to ultimate accidents, making it very unsafe for the Pinto users. The moral action for Ford in this case is to repair the design to make it suitable for every vehicle, but apparently this would be very expensive as it would cause the company over $137 million. If the company chose to turn a blind eye on the case, the cost of paying for the resulting damages including insurance due to deaths caused would not exceed $47.5 million.

The Who-How Framework for Business Ethics in Dealing with the Case

Under the Who-How framework of business ethics, the person in which the ethical action is performed for or against is first evaluated and the protocols are then evaluated (Hoffman et al., 2014). That is the Who and the How respectively. In this case, it is evident that Ford chose an unethical decision, taking down lives and health of people for the sake of their profit maximization. The ‘who’ in this case is the customers affected by the defect and the ‘how’ is the means in which the business reasons out either compensating or doing away with these customers (Weiss, 2014). The principle of utilitarianism, where the decision is made basing on the idea that brings about the common good for the larger percentage of the individuals is also used in this approach. If ford decides to take the more expensive option and make the necessary changes, they would save the health and the lives of millions of their users. If they would decide to take the second option, which is paying for upcoming damages and save the cost of the manufacture changes, they benefit is felt by only a small fraction of the stakeholders, the owners of the company. In the long-run, however, these beneficiaries would be losers since all the affected customers would be lost and the reputation of the company lost for a long time. The best ethical decision for ford is therefore to accept the mistake very fast, spend a lot of cash in correcting it and it would do them good in future.

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What Is Business Ethics?

Understanding business ethics, why is business ethics important, types of business ethics.

Implementing Good Business Ethics
Monitoring and Reporting

The Bottom Line

What is business ethics definition, principles, and importance.

Yarilet Perez is an experienced multimedia journalist and fact-checker with a Master of Science in Journalism. She has worked in multiple cities covering breaking news, politics, education, and more. Her expertise is in personal finance and investing, and real estate.

Business ethics is the moral principles, policies, and values that govern the way companies and individuals engage in business activity. It goes beyond legal requirements to establish a code of conduct that drives employee behavior at all levels and helps build trust between a business and its customers.

Key Takeaways

Business ethics refers to implementing appropriate business policies and practices with regard to arguably controversial subjects.
Some issues that come up in a discussion of ethics include corporate governance, insider trading, bribery, discrimination, social responsibility, and fiduciary responsibilities.
The law usually sets the tone for business ethics, providing a basic guideline that businesses can choose to follow to gain public approval.

Investopedia / Katie Kerpel

Business ethics ensure that a certain basic level of trust exists between consumers and various forms of market participants with businesses. For example, a portfolio manager must give the same consideration to the portfolios of family members and small individual investors as they do to wealthier clients. These kinds of practices ensure the public receives fair treatment.

The concept of business ethics began in the 1960s as corporations became more aware of a rising consumer-based society that showed concerns regarding the environment, social causes, and corporate responsibility. The increased focus on "social issues" was a hallmark of the decade.

Since that time, the concept of business ethics has evolved. Business ethics goes beyond just a moral code of right and wrong; it attempts to reconcile what companies must do legally vs. maintaining a competitive advantage over other businesses. Firms display business ethics in several ways.

Business ethics ensure a certain level of trust between consumers and corporations, guaranteeing the public fair and equal treatment.

Principles of Business Ethics

It's essential to understand the underlying principles that drive desired ethical behavior and how a lack of these moral principles contributes to the downfall of many otherwise intelligent, talented people and the businesses they represent.

There are generally 12 business ethics principles:

Leadership : The conscious effort to adopt, integrate, and emulate the other 11 principles to guide decisions and behavior in all aspects of professional and personal life.
Accountability : Holding yourself and others responsible for their actions. Commitment to following ethical practices and ensuring others follow ethics guidelines.
Integrity : Incorporates other principles—honesty, trustworthiness, and reliability. Someone with integrity consistently does the right thing and strives to hold themselves to a higher standard.
Respect for others : To foster ethical behavior and environments in the workplace, respecting others is a critical component. Everyone deserves dignity, privacy, equality, opportunity, compassion, and empathy.
Honesty : Truth in all matters is key to fostering an ethical climate. Partial truths, omissions, and under or overstating don't help a business improve its performance. Bad news should be communicated and received in the same manner as good news so that solutions can be developed.
Respect for laws : Ethical leadership should include enforcing all local, state, and federal laws. If there is a legal grey area, leaders should err on the side of legality rather than exploiting a gap.
Responsibility : Promote ownership within an organization, allow employees to be responsible for their work, and be accountable for yours.
Transparency : Stakeholders are people with an interest in a business, such as shareholders, employees, the community a firm operates in, and the family members of the employees. Without divulging trade secrets, companies should ensure information about their financials, price changes, hiring and firing practices, wages and salaries, and promotions are available to those interested in the business's success.
Compassion : Employees, the community surrounding a business, business partners, and customers should all be treated with concern for their well-being.
Fairness : Everyone should have the same opportunities and be treated the same. If a practice or behavior would make you feel uncomfortable or place personal or corporate benefit in front of equality, common courtesy, and respect, it is likely not fair.
Loyalty : Leadership should demonstrate confidentially and commitment to their employees and the company. Inspiring loyalty in employees and management ensures that they are committed to best practices.
Environmental concern : In a world where resources are limited, ecosystems have been damaged by past practices, and the climate is changing, it is of utmost importance to be aware of and concerned about the environmental impacts a business has. All employees should be encouraged to discover and report solutions for practices that can add to damages already done.

There are several reasons business ethics are essential for success in modern business. Most importantly, defined ethics programs establish a code of conduct that drives employee behavior—from executives to middle management to the newest and youngest employees. When all employees make ethical decisions, the company establishes a reputation for ethical behavior. Its reputation grows, and it begins to experience the benefits a moral establishment reaps:

Brand recognition and growth
Increased ability to negotiate
Increased trust in products and services
Customer retention and growth
Attracts talent
Attracts investors

When combined, all these factors affect a business' revenues. Those that fail set ethical standards and enforce them are doomed to eventually find themselves alongside Enron, Arthur Andersen, Wells Fargo, Lehman Brothers, Bernie Madoff, and many others.

There are several theories regarding business ethics, and many different types can be found, but what makes a business stand out are its corporate social responsibility practices, transparency and trustworthiness, fairness, and technological practices.

Corporate Social Responsibility

Corporate social responsibility (CSR) is the concept of meeting the needs of stakeholders while accounting for the impact meeting those needs has on employees, the environment, society, and the community in which the business operates. Of course, finances and profits are important, but they should be secondary to the welfare of society, customers, and employees—because studies have concluded that corporate governance and ethical practices increase financial performance.

Businesses should hold themselves accountable and responsible for their environmental, philanthropic, ethical, and economic impacts.

Transparency and Trustworthiness

It's essential for companies to ensure they are reporting their financial performance in a way that is transparent. This not only applies to required financial reports but all reports in general. For example, many corporations publish annual reports to their shareholders.

Most of these reports outline not only the submitted reports to regulators, but how and why decisions were made, if goals were met, and factors that influenced performance. CEOs write summaries of the company's annual performance and give their outlooks.

Press releases are another way companies can be transparent. Events important to investors and customers should be published, regardless of whether it is good or bad news.

Technological Practices and Ethics

The growing use of technology of all forms in business operations inherently comes with a need for a business to ensure the technology and information it gathers is being used ethically. Additionally, it should ensure that the technology is secured to the utmost of its ability, especially as many businesses store customer information and collect data that those with nefarious intentions can use.

A workplace should be inclusive, diverse, and fair for all employees regardless of race, religion, beliefs, age, or identity. A fair work environment is where everyone can grow, be promoted, and become successful in their own way.

How to Implement Good Business Ethics

Fostering an environment of ethical behavior and decision-making takes time and effort—it always starts at the top. Most companies need to create a code of conduct/ethics, guiding principles, reporting procedures, and training programs to enforce ethical behavior.

Once conduct is defined and programs implemented, continuous communication with employees becomes vital. Leaders should constantly encourage employees to report concern behavior—additionally, there should be assurances that if whistle-blowers will not face adversarial actions.

A pipeline for anonymous reporting can help businesses identify questionable practices and reassure employees that they will not face any consequences for reporting an issue.

Monitoring and Reporting Unethical Behavior

When preventing unethical behavior and repairing its adverse side effects, companies often look to managers and employees to report any incidences they observe or experience. However, barriers within the company culture (such as fear of retaliation for reporting misconduct) can prevent this from happening.

Published by the Ethics & Compliance Initiative (ECI), the Global Business Ethics Survey of 2021 surveyed over 14,000 employees in 10 countries about different types of misconduct they observed in the workplace. 49% of the employees surveyed said they had observed misconduct and 22% said they had observed behavior they would categorize as abusive. 86% of employees said they reported the misconduct they observed. When questioned if they had experienced retaliation for reporting, 79% said they had been retaliated against.

Indeed, fear of retaliation is one of the primary reasons employees cite for not reporting unethical behavior in the workplace. ECI says companies should work toward improving their corporate culture by reinforcing the idea that reporting suspected misconduct is beneficial to the company. Additionally, they should acknowledge and reward the employee's courage in making the report.

Business ethics concerns ethical dilemmas or controversial issues faced by a company. Often, business ethics involve a system of practices and procedures that help build trust with the consumer. On one level, some business ethics are embedded in the law, such as minimum wages, insider trading restrictions, and environmental regulations. On another, business ethics can be influenced by management behavior, with wide-ranging effects across the company.

What Are Business Ethics and Example?

Business ethics guide executives, managers, and employees in their daily actions and decision-making. For example, consider a company that has decided to dump chemical waste that it cannot afford to dispose of properly on a vacant lot it has purchased in the local community. This action has legal, environmental, and social repercussions that can damage a company beyond repair.

What Are the 12 Ethical Principles?

Business ethics is an evolving topic. Generally, there are about 12 ethical principles: honesty, fairness, leadership, integrity, compassion, respect, responsibility, loyalty, law-abiding, transparency, and environmental concerns.

Business ethics concerns employees, customers, society, the environment, shareholders, and stakeholders. Therefore, every business should develop ethical models and practices that guide employees in their actions and ensure they prioritize the interests and welfare of those the company serves.

Doing so not only increases revenues and profits, it creates a positive work environment and builds trust with consumers and business partners.

New York University Stern Center for Sustainable Business. " ESG and Financial Performance: Uncovering the Relationship By Aggregating Evidence From 1,000 Plus Studies Published Between 2015 – 2020 ."

Ethics & Compliance Initiative (ECI). " The State of Ethics & Compliance in the Workplace ," Pages 16-22.

Ethics & Compliance Initiative (ECI). " 2021 Global Business Ethics Survey Report The State of Ethics & Compliance in the Workplace: A Look at Global Trends ."

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After establishing the meaning of a moral right that will be used in the chapter, chapter five examines a range of potential moral rights in the work place. Various understandings of the right to work are explored with particular attention paid to arguments for and against union membership and to the issue of whether or not private employers and government have an obligation to provide a job to every person. The doctrine of employment at will is explained and the erosion of that doctrine by federal and state legislation and union contracts is discussed. The proper understanding of what due process in the workplace entails is presented as well as the arguments for the process and challenges to it. The question of whether employees have a right to participate in management decisions is debated. Finally, the meaning, extent, and limits of employee rights to a healthy and safe workplace and to privacy in the workplace are developed in detail.

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Contents (a) Briefly discuss why the employee's overly narrow approach to applying to your company reveals current weaknesses in your Employer Branding. (b) Suggest preparations for establishing best practices that promote ethical behavior. (c) Discuss why the employee's overly narrow approach to applying to your company reveals current weaknesses in your Employer Branding. I am a Human Resource Manager working at Sky World Finance Co., Ltd. My company is of a middle-level size, focusing on Small and Medium Enterprises (SME) […]

Milton Friedman on Social Responsibility

Milton Friedman on Social ResponsibilityNameInstitutionProfessorCourseDateIntroduction There are many forms of handling the issue of business ethics and for instance, business men often frequently argue on several bases and based on different views and opinions in which they view these circumstances that affect business set ups. Many times you would normally hear business men talking of business ideas that ideally affect their performance in the business industry. They would eloquently talk of ideas that are made to improve their sales and […]

Business Ethic Analysis

No, I would not steal the $10,000. Stealing from the firm raises costs, which reduces supply, raises price, and cuts demand. Stealing affects the business and consumers. In a company, owners and managers are responsible for imposing and enforcing checks and balances within the environments to protect patients, staff, and assets from theft and manipulation. When you steal, it’s important to also consider the motives or intentions. For example if I stole the $10,000 to help my son’s failed ambulance […]

Industrial Revolution – the New Factory System

"During the Industrial Revolution the new factory system and mining created a need for more workers. These new types of jobs were unsafe because no safety measures existed. Also, children were put to work because they were cheaper to hire and the jobs didn’t require skills. Unions fought to change these unsafe conditions and that eventually led to action by the government. Women were the leading force in ending child labor. Eventually these problems ended, creating the conditions that exist […]

The Relevancy of Ethics for Business D’ecisions

Business ethics (also known as company ethics) is a form of applied ethics or professional ethics that examines moral principles and ethical or moral issues that arise in a business environment. It applies to all aspects of business conduct and is relevant to the behaviour of both individuals and entire organisations. Business ethics has both normative and descriptive dimensions. As a corporate practice and a career specialization, the field is primarily normative. Academics attempting to understand business behaviour use descriptive […]

Child Labor – Kids at the Ages of 6-14

"Kids at the ages of 6-14 and there getting very little pay and they do very hard work.There are millions of kids around the world being sold for child labor.Should kids under the age of 18 be working over time. There are very difficult working conditions. Children who work often experience very hard working conditions that last over 18 hours and causes them pain all over there body.Children get injured from machinery's they work with and and get health problems […]

Attracting Attention through Social Networks

Introduction to Shoptiques and their Services Founded in 2012, Shoptiques has changed the way boutiques conduct their business and created a new way for people to shop the world’s most unique pieces from the comfort of their own home. Shoptiques serves two markets: online shoppers and small boutiques from around the world. Shoptiques grants boutiques both the opportunity to enter e-commerce and the tools crucial to their success online. Shoptiques' boutique partners have access to a plethora of tools such […]

Facebook is One of the Largest Corporations in the World

Making about $40 billion in profit with 2.23 billion monthly active users, Facebook is one of the biggest corporations today. Value of the company has a market capitalization of about 447.09B and a current stock price of around 154.78. Facebook has various ways of operating and making money. Facebook makes money through mobile advertisements, video ads, and target ads. Furthermore, Facebook also utilizes Instagram, WhatsApp, Messenger, and Oculus Rift as additional revenue streams. Lastly, Facebook partners with game makers like […]

Wal-Mart and the Protection Chance for Interpersonal Communication

In a profoundly questionable move, your favorite social network has recently agreed to allow Wal-Mart access to the posts, messages, and photos of its users. Wal-Mart will also access user names and email addresses, violating the network's security policy. Wal-Mart plans to mine this data to learn more about what its customers want and to create targeted direct mailings and emails promoting those items. You are vehemently opposed to this change in the privacy policy, compelling you to send a […]

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Home / Essay Samples / Business / Management / Business Ethics

Business Ethics Essay Examples

Ethics at work: emphasizing their significance in the workplace.

In today’s complex dynamic global business environment of the 21st century, the deep understanding of Business Ethics and Corporate Social Responsibility, CSR is crucial to Young Entrepreneurs, who are aiming high to be at the top in their respective businesses. This is importance of work...

Ethics and Governance: an Introduction to Moral Principles

This is ethics Introduction essay where this topic will be considered. To start with, ethics is the philosophy of being a good person, doing what is right, living well with other being and desiring only that is right in life. Solomon also discussed that ethics...

Ethics of Behavior of Pharmaceutical Companies in the Market

This report aims to answer questions of whether pharmaceutical firms are acting ethically and responsibly through analyzing the stakeholders involved and qualifying the ethical considerations raised of each issue: Deceptive Marketing, Pricing and Improper payments and gifts. As immediate users of the products by Big...

Kellogg’s Misleading Special K Advertisement

The increasing globalisation and competition have left companies across all industries with fewer choices but exploit various brand awareness strategies through marketing. Advertisement message is one of the growing methods of creating brand awareness among competitors to their consumers. Ads help introduce a business, build...

Research of Ethical Shortcomings in Enron Case

Enron Corporation – one of the largest energy-based companies in America, eventually fell into the abyss of bankruptcy in the year 2001. The dramatic rise to power by Enron to later facing a dizzying fall shook the Wallstreet and affected thousands of people. This failure...

Kellogg`s Company: Analytics of Ethical Behavior in the Market

The sector in which I’ll be discussing about in this report is the food sector. The company in which I’ll be discussing about is Kellogg’s. They were opened in 1906 by the founder Will Keith Kellogg. Kellogg’s originally entered the market as a cereal-based product...

The Benefits of Outsourcing for Businesses

Businesses often recruit services from a source outside of its internal operations and engaging in this procedure is referred to as outsourcing. Outsourcing jobs is becoming more accepted with businesses in today's global economy. Organizations are realizing the benefits that come with outsourcing jobs. Companies...

Wal-marts Corporate Ethics and Social Responsibilities Efforts

Wal-Mart is a multi-billion corporation that opened its doors back in 1962, on July 2nd of that year the first Wal-Mart store was opened in Rogers, Arkansas under the supervision and influence of Sam Walton. Walton is the man responsible for engraving the goals, values,...

Corporate Psychopaths and the Implications They Can Bring on the Organization

The chosen topic of this review and synthesis is to look at one of the members of the ‘dark triad’ – psychopaths and how they find their way into the organizations or corporations therefore becoming a “corporate psychopath’’ or an ‘’organizational psychopath’’. It is important...

The Principles of Ethical Human Resource Management

“Human Resource Management is the set of organizational activities directed at attracting, developing and maintaining an effective workforce.”- Ricky W. Griffin The overall objective of human resources is to ensure that the organisation is able to attain success by people. HR practitioners manage the human...

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