Business Ethics Essay Example For Students

Business Ethics Essay Business Ethics Essay Ethics in Business From a business perspective, working under government contracts can be a very lucrative proposition. In general, a stream of orders keep coming in, revenue increases and the company grows in the aggregate. The obvious downfalls to working in this manner is both higher quality expected as well as the extensive research and documentation required for government contracts. If a part fails to perform correctly it can cause minor glitches as well as problems that can carry serious repercussions, such as in the National Semiconductor case. When both the culpable component and company are found, the question arises of how extensive these repercussions should be. To be able to keep the ethical standards management must follow the law. However, there are some complications in enforcing it. The law affects and is affected by social forces and prevailing ethical standards. ;Although the law can codify societies ethical ____________________________________________________ ____________________ Alhemoud, Ali ; Management Ethics is Smart Business.; values, ethical decision making transcends the law in that 1) the law deals with actions not with thoughts, and therefore it does not (and cannot) codify all ethical requirements; and 2) an individual or a group may perceive a given law as immoral, not as a guide to ethical behavior.; ( A. Alhemoud). How, then, a company can ensure that its code of ethics is both followed and enforced ? ; . ..Defense firm such as General Dynamics and TRW, and an information company, Dun ; Broadstreet, have appointed internal ethics officers or ombudsmen. Whether employees have faith in these safeguards against corporate retaliation is hard to tell, though it is one step forward (The Economist August 19 1995) The ethical codes of corporations that that get so important nowadays also did not come into being at once. They emerged from individual ethical standards and corporate consciousness. Moreover, the public demand for prosecution of any violations of corporate, professional and Business Ethics Essay has been increased. Finally, mass media made possible for society reveal secrets that were kept from public before. So, the business conduct regulations were created to ;draft guidelines for ethical conduct, develop a process for monitoring business practices and recommend ways to correct questionable activities.; (J.Byrne) All these measures were taken to balance various social responsibilities with the high degree of moral and sense of attainment. Unfortunately, cooperation of unethical behavior of a manager with a journalist may lead to an undesirable results. ;Early in December 1995 , Smart Moneys editor-at-large James J. Cramer wrote an article for his monthly column; Unconventional Wisdom, __________________________________________________________ .