Unethical Business Practices AbstractAbstractThis paper addresses both ethical and unethical practices in the business environment. It explains the effects of both ethical and unethical practices with an emphasis on the effects of unethical practices. It points out at ethics as a major contributor to the achievements of a company’s long-term goals. It emphasizes on the need for ethical practices in an organization. It emphasizes that though some ethics are enforced by law, they require willingness of individual organization to enforce them in their respective entities. Individual employees should also be willing to engage in ethical practices. It points out at the top management as the main coordinator and foster of ethics within an organization. Basically, unethical practices may lead to heavy losses by a company hence closure due to lack of funds to finance its operations. This is due to the awareness of consumers on the effects of unethical practices on the quality of products produced by an organization. The paper uses examples of both Tyco and Enron to highlight some of the problems that might arise in an organization due to unethical practice.
IntroductionBusinesses are set with an aim of profit maximization. Since all businesses work towards maximizing profit, some may use alternatives both legal and unlawful methods to maximize on profit. For this reason, moral standards of behaviors have to be set to ensure fairness in competition and carrying out of business practices. In business the environment, there are external and internal factors. Companies have influence over internal factors while the external factors are influenced by technological change, consumers’ preferences, culture or legislations by law. Ethics are legal factors which are aimed at controlling operations of organizations by providing a fair environment for competition or avoiding unnecessary monopolies. The business world consists
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The world is a product-development process. The development process is characterized by continuous changes in environment, economic and political, that can change and expand the economic system, such as industrialization, privatization, deregulation. The development process also allows for the use of innovative approaches and ideas for business to solve problems, such as the development of new applications, solutions and techniques for new projects such as education and communications.
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For a business that seeks profit, ethical principles are established. They have to work towards the objective goal of maximizing profits, ensuring a fair environment for competition, and making it possible for consumers and businesses to decide what to eat and drink. A business must use ethical standards when dealing with an individual and all the ethical issues can be resolved in the business.
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The ethical rules for a business are based upon the human rights doctrine. It states that:the person who violates ethical rights must be punished with a fine. The human rights doctrine refers to four principles. The first is “ethics in general,” which describes the legal practices within the business environment at the individual and the world community level, and the second is “social ethics,” which describes the social and moral frameworks created by the organization in which its business operates. For instance, ethical principles can be based on the concept that it is better to live in a better society for everyone, with the social values that are expressed within the group and ethical principles generally in the form of moral values.
The third principle is that a business must have a moral and legal framework to achieve its ethical goal, and that it must also abide by rules governing internal relations. The third principle is “the relationship between legal and personal behavior,” and that the ethical rules for legal behavior are based on an understanding of the relationship between individuals and their respective behavior. The fourth principle is “the social structure,” which can be an important criterion for legal and legal organizations. Finally, “ethical conduct” in many cases can relate to individual behavior, such as when certain behavior is morally wrong or unethical, while others such as social norms regarding family or family violence and moral codes that may be considered acceptable by law-abiding individuals may be considered legal violations of the ethics of the business.
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When deciding in case of legal violation of legal ethics principles, the ethical standards are based on the principle that the company’s moral and legal codes must always be in accordance with human ethics.
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The ethical framework also includes a framework for the enforcement of ethical laws. Those that are legally enforceable in accordance with the ethical standards include law enforcement, financial regulation, antitrust law, legal liability, health and insurance law, ethics of work and hygiene, law of inheritance and inheritance, inheritance rights, inheritance insurance, laws of divorce, and ethics laws of other parties. The ethical framework also covers the protection of all moral code elements.
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The ethical values of a business can be derived out of that foundation which is the law of the economic order and law of the government, which applies ethical values to various