entreprenuel leadership
Analysis of Ethical Dilemma Case in BusinessBusiness Ethics
Business or corporate ethics are a set of norms, rules and principles of what peoplegenerally consider right in a workplace environment. It can also be referred to as a guideline of what actions are considered ethical and moral in a business environment. All businesses shouldapply business ethics principles in the workplace not only to promote a healthy and professionalenvironment but also to improve and sustain a better image of the company in general public. Acompany or business must consider several factors to ensure ethical practices are applied in allaspects of the business. Ethics is referred to the phenomenon or action which people normallyconsider right and moral and one which does not have any immoral or deceiving impacts on thestakeholders of a company and social environment a company operates in (Ferrell, Fraedrich, &Ferrell, 2000 pp. 2-25). If a business does not implement effective ethical practices it may facevarious risks such as fines, image deterioration and loss of business. Some unethical issues arealso considered unlawful which may subsequently result in major losses for the company andheavy penalties, fines and punishments being levied by regulatory bodies or government. The people working in organizations also face several problems while fulfilling their jobrequirements. In most cases people get confused about what decisions to make which areacceptable and ethical to all entities and individuals affected by the decision. Several companieshave faced ethical issues in the context of doing business and most of these companies wereinvolved in unethical accounting and business practices and one of the biggest examples of corporate scandals involving unethical issues was the case of Enron. In this case several keyemployees of the company and external auditors of the company were involved in unethical practices in business which eventually resulted in huge losses for shareholders and
Business or corporate ethics are a set of norms, rules and principles of what peoplegenerally consider right in a workplace environment. It can also be referred to as a guideline of what actions are considered ethical and moral in a business environment. All businesses shouldapply business ethics principles in the workplace not only to promote a healthy and professionalenvironment but also to improve and sustain a better image of the company in general public. Acompany or business must consider several factors to ensure ethical practices are applied in allaspects of the business. Ethics is referred to the phenomenon or action which people normallyconsider right and moral and one which does not have any immoral or deceiving impacts on thestakeholders of a company and social environment a company operates in (Ferrell, Fraedrich, &Ferrell, 2000 pp. 2-25). If a business does not implement effective ethical practices it may facevarious risks such as fines, image deterioration and loss of business. Some unethical issues arealso considered unlawful which may subsequently result in major losses for the company andheavy penalties, fines and punishments being levied by regulatory bodies or government. The people working in organizations also face several problems while fulfilling their jobrequirements. In most cases people get confused about what decisions to make which areacceptable and ethical to all entities and individuals affected by the decision. Several companieshave faced ethical issues in the context of doing business and most of these companies wereinvolved in unethical accounting and business practices and one of the biggest examples of corporate scandals involving unethical issues was the case of Enron. In this case several keyemployees of the company and external auditors of the company were involved in unethical practices in business which eventually resulted in huge losses for shareholders and