For a business to be ethical it must do what is right and avoid what is wrong towards its stakeholders. Developing ethical behavior in financial institutions by Fichter, the increased concerned about the unethical behavior among the employees in financial institutions is a major concern for managers and employers in this sector. The successful businesses are in fact built on a long association and trust from people, consumers, and clients. Take the case of Ms Vinson, she acted under pressure but that does not absolve her. Do they think of implications and consequences – moral, ethical, and legal – before committing a fraud? According to Lawrence Kohlberg’s well-established stages of moral development, there are six stages of moral development that can be summarized into three levels: the preconventional level is one at which individuals are motivated by a childlike avoidance of punishment, obedience to authority, fear, and self-interest. Affordable prices for everybody. Among the most influential western philosophers, who produced a profound impact on the development of western philosophy at large and business ethics in particular, it is possible to name E. Kant. Therefore, the companies looking to insulate themselves from corporate frauds must take a hard look at their own culture. A friend of Stewart, and ImClone executive, indicated to her that the FDA would not approve the drug. Maybe, maybe not. For instance, Shell, being one of the leading companies in the oil industry, may be viewed as one of the companies that is under the public control and it is forced to obey to the existing moral and ethical principles that are accepted in the contemporary society. Want to add some juice to your work? p.40). At the same time, it should be pointed out that the problem of morality disturbed many outstanding thinkers of different epochs. And advertising means a mode of communication between a seller and a buyer thus ethics in advertising means a set of defined principles which govern the ways... Ethics are the ethical rules that drive a person’s conduct. On-time delivery and confidentiality guarantee! Literature Review on the ethics of Uber Introduction Uber is one of the transportation companies that connects its customers, divers, as well as operators through online services (Cannon 26). What guides this behavior? Did she violate anyone else’s rights? Retrieved from https://paperap.com/paper-on-martha-stewart-business-ethics/, Is Your Deadline Too Short? Although, not all of us will be managers, workers within a company should have some... Social Duty alludes to business hones that hold fast to moral qualities, that consent to legitimate necessities, and that advance the improvement of people and the network on the loose. Researching on how to write a business ethics essay tends to be time-consuming. One approach is to categorize different types of values in a way that lends itself to determining specific strengths and weaknesses that can be assessed and then corrected or enhanced (Strategic Finance, May 2006, p.32). The same hold true for WorldCom that certainly didn’t lack extensive internal controls. Martha Stewart subsequently sold her shares of the depreciating stock, avoiding a sizeable loss. In... Large organizations and publicly held companies often use corporate governance to promote business ethics and social responsibility. The immediate result is beneficial to all. Scott Sullivan was a powerful leader with a well-known reputation for integrity. Your choice of the best topic for your business paper should depend on the field you are interested in. First of all, it should be said that the problem of business ethics and morality of business is not new and its roots may be traced in the early history of the development of business. We use cookies to give you the best experience possible. Nevertheless, students c… The National Business Ethics Survey has listed four key outcomes. It is an objective picture of an organization; the sum of its values and behaviors of all employees, managers, and leaders. Even more striking is the revelation that, although formal ethics and compliance programs have some impact, organizational culture has the greatest influence in determining program outcomes” (Strategic Finance, May 2006, pp.30-31). This sample essay on Business Ethics Essay offers an extensive list of facts and arguments related to it. The factors promoting ethical awareness in both business organizations and business education programs are varied. These companies created an environment of public mistrust of big corporations. More importantly, who did her actions hurt? You can use our professional writing services to buy a custom research paper on any topic and get your high quality paper at affordable price. Who did Martha Stewart’s actions hurt? According to the article posted in TheScientist, Paolo Machiarini, a trachea surgeon, was one of the researchers that the authorities reported committing research misconduct. 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An example would be pollution. Some of the other information gathered from the report may be briefly stated as under: (a) Three managers in supervisory roles at Campsie, have since left the company. The statements from WorldCom executives might be enlightening: “I’m sorry for the hurt that has been caused by my cowardly behavior.” —Scott Sullivan, CFO, “Faced with a decision that required strong moral courage, I took the easy way out....There are no words to describe my shame.” —Buford Yates, director of general accounting, “At the time I consider the single most critical character defining moment of my life, I failed. More recently, an internal audit at Scottish mineral water company Campsie Spring uncovered a 14 million pound fraud. The private sector is faced with numerous ethical issues on a daily basis. Here are different categories of business research topics for college students and their examples. These values help a business to maintain a good relationship with investors and stakeholders. Managers who believe in this view act so that the consequences of their actions bring about the greatest good for themselves. Traditionally, business was associated with the use of methods and approaches that did not always meet the existing moral standards. While it is tempting to think of business entities as the primary moral agent, business organizations are, in fact, commonly comprised of a number of individuals making decisions that may have an ethical dimension. Obviously, she was able to save money (or rather minimize her loss, as the stock value was already falling). The potential cost of ethical violations is also a motivating factor for organizations to reassess their stance. If you need help writing your assignment, please use our research paper writing service and buy a paper on any topic at affordable price. You have successfully installed the Catfish Manager plugin! Sorry, but copying text is forbidden on this website. Business ethics is the study of principles and moral values in business. 1994. Fraud affects everyone regardless of their skin color or the language that they speak. We can create an original paper just for you! All the content of this paper is his perspective on Research Paper On Business Ethics and should be used only as a possible source of ideas. Historically the literature on business ethics has been anchored in normative philosophy and can be seen to be broadly delineated into three areas: prescriptive/hortatory literature, which attempts to sermonize and instruct the business community and education in raising ethical standards; descriptive/positive literature, which is characterized by extensive empirical research into, for example, ethical attitudes of students and business personnel; and meta ethical/analytical literature, which investigates meaning and justification relating to the corporate and individual decision-making process.