Ethical and Moral Issues in Business

Ethical and veraciouseous Issues in Business LaTonya Beeler September 13, 2010 MGT 216 rhenium Crum morals and honourables be essential to the success of a military control. The devil argon synonymous with mavin an different. According to DeGeorge, incorrupt philosophy is a systematic attempt to make intelligence of our singular and social honourable experience to determine the rules that ought to govern sympathetic occupy, the values worth pursuing, and the shell traits deserving development in lifespan (DeGeorge, 2010, pg. 13). Consumers rely on stemma to make moral and honorable decision regarding both transmission line transactions.If the consumer does not believe that a backing is moral or h sensationst he or she go away not patronize the short letter, which in turn causes the blood line to lose bullion causing adverse make on the economy. This essay will as real the difference of opinions amidst honorable and moral issues, the difference between s oulfulnessal and psycheal line of credit morality as well as show examples of usual ethical tasks in crease for each of the aforementi id morals. Ethics and morals atomic number 18 words that mess use interchangeably in regards to conduct and how people interact with nightspot.How invariably, some differences exist between the two in product line. Ethics atomic number 18 a traffic circle of rules or systematize system implemented by a comp any(prenominal) that explains how wiz should act on-the-job whereas morals are set in match and is principles by which an entire beau monde is supposed to live by. One can distinguish between ethics and morals by collar that ethics is the action or conduct of what an undivided deems right or wrong, thitherfore morals are the basis to which ethics stand on.For instance, if two big businesses were in competitor with unmatchable an other for the akin customers ace of the companies whitethorn choose to bribe an employee of t he other company for inseparable information to use against the other company to gain a competitive advantage. Bribery is a leafy vegetable ethical problem that occurs in business. Personal ethics can refer to an individuals life outside of hightail it whereas business ethics pertain to the moral aspects of business to consumer interaction or business to business interaction. The foundation of face-to-face and business ethics are equivalent.What differentiates the two are how they are enacted. For example, in that respect are retail stores that wait their employees to promote the sale of store credit cards. The customers whitethorn not be k in a flashledgeable of the rules in the graceful print however the customer service associate is well apprised but cannot disclose certain information because he or she has to comply with polity of ethics of the company. This flat conflicts with the in-person ethics of the employee and the business ethics to which he or she has to comp ly with.The aforementioned example is a common ethical problem seen in the retail business. Ethics and morals are essential in the success of a business because they determine whether or not a customer will live to patronize the business or take his or her money to another business. A company is besides as successful as the people who work there. The employee in a business goes to work and employs his or her personal ethics in conjunction with the code of ethics implemented in the place he or she works. Differences are seeming in morals and ethics.The difference is ethics are a codified system in a business to which employees have to adhere to and morals are the basis to which one determines right from wrong. Just as there are differences in ethic and morals, there are differences between personal and business ethics. The difference is how personal and business ethics are enacted. Businesses can prevent scandals at heart the company by ensuring that all employees including focu s adhere to the business code of ethics.Reference DeGeorge, R. T. (2010). Business ethics (7th ed. ). upper berth Saddle River, NJ prentice Hall.Ethical and virtuous Issues in BusinessEthical and Moral Issues in Business Mgt/216 Steve Fletcher October 18, 2010 One Ethics and moral issues in business befit factors that individuals encounter at some(prenominal) times in ones daily life. An individual get downs greeted each morning in the newspaper, confronted in the fundamentals of ones daily jobs, and bided healthy night on the evening news. In a professional setting, a persons behavior to act in a manner that upholds the good of society establishs expected.To understand ethical and moral issues in business, their differences must become imperative, the differences between personal ethics and business ethics become essential, and examples of common ethical problems in businesses become main(prenominal). Ethics become exceedingly important to everyone in the workplace, and a re the beliefs, values, and morals that an individual possess. The discipline dealing with what is good and bad and with moral duty and obligation, defines ethics harmonise to gibe toMerriam-Webster, In incorporatedd(2010).These values, belief, and morals become usually instilled in the individual from family, church, society, peer groups, profession, or other sources. A variety of ethical issues that becomes apparent in spite of appearance discordant plaques straightaway include conflict of interest, dissimilitude, harassment, sexual and otherwise, recruitment and staffing, customer confidence issues, and corporate resources. These ethical issues occur within todays business environments and have a tremendous effect on organizations. Two Moral principles, teachings, or conduct, defines moral according toMerriam-Webster, Incorporated(2010).A variety of moral issues that becomes apparent within various organizations today include falsehood of facts, deception, concealing in formation, misrepresenting correspondence or publications, the swaying of peoples feelings, cheating, rule-bending, misleading people, exploitation of weakness and vulnerability, exuberant profit, greed, resistance to reasonable investigation, venturesomeness or irresponsible secrecy and lack of transparency and use of authority, power, reputation, prisonbreak confidentiality, lack of compassion and humanity, and unfairness. several(prenominal) influences define personal Ethics, which include family influences, religious beliefs, culture strickles, personal experiences, and congenital reflection. Parents or guardians dictate ones morality during the early years of an individuals life. They become the first to voice and contend ethical boundaries. Religious beliefs become important by allowing a person to accept an established set of moral rules.By following these moral rules, an individual behave ethically with the promises of rewards in the afterlife as a motivation. Culture dictates the ethical norms simply because of the customs and traditions in the society surrounding him or her, and becomes inhering in an individuals psyche. Personal experiences shift ones ethics, which become events that happen in an individuals life. Emotional and personal experiences cause changes ones beliefs. Internal reflection becomes genuine by ones inward feelings. When an individualThree does something that goes against ones moral code, a feeling of guilt or shame results. When an individual does something that fits into ones ethical idea of right he or she becomes proud or happy. Business ethics become what constitute a business to its employees, customers, the community, vendors doing business with them, and all business relationships. Although guidelines, basic laws, and rules became created to maintain a business, the codes of conduct enforce ethics, and make an organization successful.When values in the workplace become viewed as fair and in effect(p) with a coll ective willingness to provide services and products in an ethical manner trust and confidence becomes harder. When management adheres to company ethics, it sends a strong message to employees and often set strong ethical standards for what the company stands for. The Madoff enthronization scandal that became the largest Ponzi scheme ever rateted by an individual becomes an example of ethical and moral issues in business.Money laundering, securities fraud, perjury, mail fraud, electrify fraud, and making false fillings with the SEC became the federal crimes that Bernard Madoff pleaded guilty. He actually managed to horse around 4,800 invitees. None of this money was ever invested it was simply deposited into hisbusinessaccount. The losses of his clients were almost $65 billion and now Madoff faces a lifelong conviction and up to $170 billion in restitution, according to (Articles base, 2010). FourThe Enron tribulation that caused thousands of people to lose their jobs and pen sions because of wrong practices by management becomes a prime example of personal and business ethical problems. The SEC has bring out several instances of financial fraud committed by high-ranking executives at Enron, and many of the executives have been charged with wire fraud, money laundering, securities fraud, mail fraud, and conspiracy, according to (Lawyer Shop, 2008). Appropriate business ethics become vitally important in businesses both large and small.Several ethical issues may summon within an organization, but getting the right training, policies, procedures, and guidelines available and comprehensive to all employees, businesses will aid in a decreasing pith of ethical and moral issues in the workplace. Reference Articlesbase. com, (2010), retrieved from http//www. articlesbase. com/law-articles/how-the-madoff-investment-scandal-was-uncovered-927189. html Lawyershop. com, (2008)retrieved from http//www. lawyershop. com/practice-areas/criminal-law/white-collar-cr imes/securities-fraud/lawsuits/enron Merriam-Webster, Incorporated,(2010),Merriam-Webster Dictionary,retrievedEthical and Moral Issues in BusinessWhile ethics refers to understanding and adopting moral values much(prenominal) as code of conduct, morals are the beliefs of individuals determining what is right and wrong in behavior. Although organizations may have set rules to standardize a working(a) environment, individuals may follow standard procedures while the morality solely lies in individual behavior. While groups and organizations may provide values of establishment within a working environment, moral issues may obtain examples of lying, theft and cheating.Personal ethics may also obtain morality and may affect an individuals goals which may differ from business ethics. Business ethics have company indemnity and standards in which employees must follow such as being respectful within the environment. As there are many differences to compare between ethics and morality, c ommon problems do occur in businesses because of the human traits of greed. Why do ethical problems occur in businesses today? The majority of times, invidividuals can be narcissistic obtaining values of self interest which may lead to wrong conduct (William, 2009).Whether issues lie in management, work centers or between individuals, the results of the companies may be directed towards poor company performance and bad respectable perceptions from overall consumers. Research has shown that companies with poor and lower in profits are more prone to commit unethical acts (William, 2009). Fixed-pricing is an example of unethical problems which, avoids fair competition between companies. This is an unlawful agreement between manufacturers, which is considered bootleg in the United States (William, 2009). Stealing and lying is also one of many common problems within businesses.For example, individuals working in IT may take and steal computer parts like HDMI cables rather than going to barbarians electronics to pick one up for personal use. When it is time to install or troubleshoot a clients computer or network, missing resourceful products may lead to bad customer service. software system piracy in IT is also considered unethical and many programmers and IT businesses may lose profits. When IT businesses lose profits, so do employee jobs. It is important for individuals to hold ethical personal conduct and hold morals to never steal from any company because it increases the efficiency of work performance and cost benefits.These company resources are valuable and stealing is unethical within any company. Another example is making personal phone calls on a corporate phone which may cost the companys bills to increase. It is up to individuals to separate personal ethics such as personal phone calls with business ethics in this situation. These ethics are usually in the majority of all company policies. Also such unethical business practices may include discrim ination against protected classes, bribes, sexual harassment and dishonesty.Ultimately ethical issues require people or organizations to choose actions which may judge their character of right and wrong. While organizations may want preserve customer relationships and employee concerns, business ethics may promote standard policies for diverse individuals. Such examples of unethical and immoral doings within businesses were stealing IT resources for personal use, using company resources for personal use and fixed pricing. Other examples were lying and cheating. These are choices individuals are expected not to commit and hold moral values so that companies and businesses may prosper towards a bright future.ReferencesWilliam, P.(2009).Why Ethical Problems Occur in Business.Yahoo Contributor Network.Retrieved from http//www.associatedcontent.com/article/1429755/why_ethical_problems_occur_in_business.html?cat=3Ethical and Moral Issues in BusinessEthical and Moral Issues in Business LaT onya Beeler September 13, 2010 MGT 216 Ray Crum Ethics and morals are essential to the success of a business. The two are synonymous with one another. According to DeGeorge, ethics is a systematic attempt to make sense of our individual and social moral experience to determine the rules that ought to govern human conduct, the values worth pursuing, and the character traits deserving development in life (DeGeorge, 2010, pg. 13). Consumers rely on business to make moral and ethical decision regarding all business transactions.If the consumer does not believe that a business is moral or ethical he or she will not patronize the business, which in turn causes the business to lose money causing adverse effects on the economy. This essay will ascertain the differences between ethical and moral issues, the difference between personal and business ethics as well as provide examples of common ethical problems in business for each of the aforementioned ethics. Ethics and morals are words that people use interchangeably in regards to conduct and how people interact with society.However, some differences exist between the two in business. Ethics are a set of rules or codified system implemented by a company that explains how one should act on-the-job whereas morals are set in stone and is principles by which an entire society is supposed to live by. One can distinguish between ethics and morals by understanding that ethics is the action or conduct of what an individual deems right or wrong, therefore morals are the basis to which ethics stand on.For instance, if two big businesses were in competition with one another for the same customers one of the companies may choose to bribe an employee of the other company for internal information to use against the other company to gain a competitive advantage. Bribery is a common ethical problem that occurs in business. Personal ethics can refer to an individuals life outside of work whereas business ethics pertain to the moral as pects of business to consumer interaction or business to business interaction. The foundation of personal and business ethics are equivalent.What differentiates the two are how they are enacted. For example, there are retail stores that require their employees to promote the sale of store credit cards. The customers may not be knowledgeable of the rules in the fine print however the customer service associate is well aware but cannot disclose certain information because he or she has to comply with code of ethics of the company. This directly conflicts with the personal ethics of the employee and the business ethics to which he or she has to comply with.The aforementioned example is a common ethical problem seen in the retail business. Ethics and morals are essential in the success of a business because they determine whether or not a customer will continue to patronize the business or take his or her money to another business. A company is only as successful as the people who work there. The employee in a business goes to work and employs his or her personal ethics in conjunction with the code of ethics implemented in the place he or she works. Differences are apparent in morals and ethics.The difference is ethics are a codified system in a business to which employees have to adhere to and morals are the basis to which one determines right from wrong. Just as there are differences in ethic and morals, there are differences between personal and business ethics. The difference is how personal and business ethics are enacted. Businesses can prevent scandals within the company by ensuring that all employees including management adhere to the business code of ethics.Reference DeGeorge, R. T. (2010). Business ethics (7th ed. ). Upper Saddle River, NJ Prentice Hall.Ethical and Moral Issues in BusinessEthical and Moral Issues in Business Mgt/216 Steve Fletcher October 18, 2010 One Ethics and moral issues in business become factors that individuals encounter at severa l times in ones daily life. An individual becomes greeted each morning in the newspaper, confronted in the fundamentals of ones daily jobs, and bided good night on the evening news. In a professional setting, a persons behavior to act in a manner that upholds the good of society becomes expected.To understand ethical and moral issues in business, their differences must become imperative, the differences between personal ethics and business ethics become essential, and examples of common ethical problems in businesses become important. Ethics become extremely important to everyone in the workplace, and are the beliefs, values, and morals that an individual possess. The discipline dealing with what is good and bad and with moral duty and obligation, defines ethics according to according toMerriam-Webster, Incorporated(2010).These values, belief, and morals become usually instilled in the individual from family, church, society, peer groups, profession, or other sources. A variety of e thical issues that becomes apparent within various organizations today include conflict of interest, discrimination, harassment, Sexual and otherwise, recruitment and staffing, customer confidence issues, and corporate resources. These ethical issues occur within todays business environments and have a tremendous effect on organizations. Two Moral principles, teachings, or conduct, defines moral according toMerriam-Webster, Incorporated(2010).A variety of moral issues that becomes apparent within various organizations today include falsification of facts, deception, concealing information, misrepresenting correspondence or publications, the swaying of peoples feelings, cheating, rule-bending, misleading people, exploitation of weakness and vulnerability, excessive profit, greed, resistance to reasonable investigation, recklessness or irresponsible secrecy and lack of transparency and use of authority, power, reputation, breaking confidentiality, lack of compassion and humanity, an d unfairness. Several influences define personal Ethics, which include family influences, religious beliefs, culture affects, personal experiences, and internal reflection. Parents or guardians dictate ones morality during the early years of an individuals life. They become the first to voice and demonstrate ethical boundaries. Religious beliefs become important by allowing a person to accept an established set of moral rules.By following these moral rules, an individual behave ethically with the promises of rewards in the afterlife as a motivation. Culture dictates the ethical norms simply because of the customs and traditions in the society surrounding him or her, and becomes ingrained in an individuals psyche. Personal experiences shift ones ethics, which become events that happen in an individuals life. Emotional and personal experiences cause changes ones beliefs. Internal reflection becomes developed by ones inward feelings. When an individualThree does something that goes aga inst ones moral code, a feeling of guilt or shame results. When an individual does something that fits into ones ethical idea of right he or she becomes proud or happy. Business ethics become what constitute a business to its employees, customers, the community, vendors doing business with them, and all business relationships. Although guidelines, basic laws, and rules became created to maintain a business, the codes of conduct enforce ethics, and make an organization successful.When values in the workplace become viewed as fair and just with a collective willingness to provide services and products in an ethical manner trust and confidence becomes stronger. When management adheres to company ethics, it sends a strong message to employees and often set strong ethical standards for what the company stands for. The Madoff investment scandal that became the largest Ponzi scheme ever committed by an individual becomes an example of ethical and moral issues in business.Money laundering, securities fraud, perjury, mail fraud, wire fraud, and making false fillings with the SEC became the federal crimes that Bernard Madoff pleaded guilty. He actually managed to fool 4,800 clients. None of this money was ever invested it was simply deposited into hisbusinessaccount. The losses of his clients were almost $65 billion and now Madoff faces a lifelong sentence and up to $170 billion in restitution, according to (Articles base, 2010). FourThe Enron failure that caused thousands of people to lose their jobs and pensions because of unethical practices by management becomes a prime example of personal and business ethical problems. The SEC has uncovered several instances of financial fraud committed by high-ranking executives at Enron, and many of the executives have been charged with wire fraud, money laundering, securities fraud, mail fraud, and conspiracy, according to (Lawyer Shop, 2008). Appropriate business ethics become vitally important in businesses both large and smal l.Several ethical issues may arise within an organization, but acquiring the right training, policies, procedures, and guidelines available and comprehensive to all employees, businesses will aid in a decreasing amount of ethical and moral issues in the workplace. Reference Articlesbase. com, (2010), retrieved from http//www. articlesbase. com/law-articles/how-the-madoff-investment-scandal-was-uncovered-927189. html Lawyershop. com, (2008)retrieved from http//www. lawyershop. com/practice-areas/criminal-law/white-collar-crimes/securities-fraud/lawsuits/enron Merriam-Webster, Incorporated,(2010),Merriam-Webster Dictionary,retrieved