Ethical Issue Business Essay

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That is, instead of suggesting “the best one way” of e.g.

corporate governance, the business ethics school will emphasize the moral underpinnings of the matter and will support the decisions and actions only from those perspectives.

Second, a wave of corporate scandals, involving cases of fraud, negligence and immoral marketing methods has increased the attention to companies’ internal affairs, in particular their agents.

This was due to the explosions of scandals such as Enron and World Com as well as a growing interest in corporate affairs in Hollywood, leading to blockbusters such as Wall Street, Quiz Show, The Insider and Jerry Maguire.

As mentioned earlier, issues of business ethics have a long history, and are thoroughly referred to in civilian and religious writings.

Throughout the various forms of commerce, matters such as competition, accurate reporting and pricing (to name a few) are part of all major transcripts, including Aristotle, the Old Testament, the Koran and even appear in Buddhist writings.However, this interest in business ethics has grown significantly during the 20th century, reaching a peak today due to several main reasons: First and foremost is the unique role of corporations in the modern society.This form of business, whose economic and social power may be immense and involves numerous stakeholders, motivated further thinking regarding the means in which possible negative influence of corporations can be restricted.Finally, it will describe several contemporary issues of research and practice.In its simplest sense, the field of business ethics represents the meeting point between ethics and business, where business decisions and their implementation are evaluated in terms of the “right” (moral) and “wrong” (immoral).Because of this reason, many business corporations set up codes of conduct that the employers are supposed to follow and practice (Mc Henry, 2003, p. These codes consist of both business ethics that are generally expected in a workplace and specific personal moral values which would lead to good behavior by the employees.Good moral values are necessary in business management and leaders.1 Introduction Dated back to Code of Hammurabi some 4,000 years ago, business ethics is a social science, whose main aim is to define and examine the responsibilities of businesses and their agents as a part of the general moral environment of a given society.The products of this field of research are sets of rules and codes of conducts, which serve as a means of protection from the possible infringements of moral codes as a result from the general activities and responsibilities of a firm to its stakeholders (e.g.Morals are more related to an individual’s character and behavior.On the other hand, ethics describes ways in different societies and other social set ups practically use these personal values.