The Evolution of Business
The Evolution of Business
OMM 640: Business Ethics and Social Responsibility
Instructor Whitten
September 4, 2013
The Evolution of Business
Since the term “business” became a word everyone was familiar with, the purpose and principle behind business ethics and values was created. Even though no one in this day and age can be 100% sure how businesses were created, and how entrepreneurs were able to provide a sense of stability for themselves and their families, we can see how they evolved; the companies we know today would not exist without the men and women who created businesses throughout history. Over the last several decades, companies have developed a sense of business ethics that have defined the reputation of companies and the mission that drives the company.
From the 1960s to today, people have been concerned with different ethical issues and have managed to develop a society where those issues have made them stronger. According to the Ethics Resource Center (2009), the 1960s caused the most strain on people and their ethics, and it grew the society into one of the most significant eras in American history. The dilemmas that surrounded the 60s were nothing short of tension and domination. For example, the Civil Rights issues dominated the minds and hearts of that particular generation, the escalation of drug use, as well as how the tension between employee and employer grew are just to name a few of the problems that had to be dealt with during that time. Because of these personal ethical challenges, businesses initiated different codes of conduct and value statements in each company hoping that this would change people’s work ethics and understanding of what it takes to be able to support themselves, as well as their families. However, the 1970’s contained so much scandal in certain corporations, while the economy was riddled with depression from people losing their jobs and becoming unemployed. For
OMM 640: Business Ethics and Social Responsibility
Instructor Whitten
September 4, 2013
The Evolution of Business
Since the term “business” became a word everyone was familiar with, the purpose and principle behind business ethics and values was created. Even though no one in this day and age can be 100% sure how businesses were created, and how entrepreneurs were able to provide a sense of stability for themselves and their families, we can see how they evolved; the companies we know today would not exist without the men and women who created businesses throughout history. Over the last several decades, companies have developed a sense of business ethics that have defined the reputation of companies and the mission that drives the company.
From the 1960s to today, people have been concerned with different ethical issues and have managed to develop a society where those issues have made them stronger. According to the Ethics Resource Center (2009), the 1960s caused the most strain on people and their ethics, and it grew the society into one of the most significant eras in American history. The dilemmas that surrounded the 60s were nothing short of tension and domination. For example, the Civil Rights issues dominated the minds and hearts of that particular generation, the escalation of drug use, as well as how the tension between employee and employer grew are just to name a few of the problems that had to be dealt with during that time. Because of these personal ethical challenges, businesses initiated different codes of conduct and value statements in each company hoping that this would change people’s work ethics and understanding of what it takes to be able to support themselves, as well as their families. However, the 1970’s contained so much scandal in certain corporations, while the economy was riddled with depression from people losing their jobs and becoming unemployed. For
References: Macauley, I. (2004). Corporate governance: Crown Charters to Dotcoms. Museum of American Financial History. Retrieved from www.financialhistory.org Schwenk, A.E. (2003). Compensation in the 1970s. Retrieved from http://www.bls.gov/opub/cwc/cm20030124ar05p1.htm Witzel, M. (2002). The Emergence of Business Ethics. Thoemmes Continuum. Retrieved from www.thoemmes.com