Best Practices to Avoid a Business Ethics Failure

Best Practices to Avoid a Business Ethics Failure

Stephanie A. Davis

Barry University

Author Note

This paper was prepared for ADM 521 – Applied Administrative Concepts, taught by Professor Sandra Lee Roberts.

Abstract

Business ethics is a necessity in the operation and stability of an organization. Ethical misconduct disasters constitute serious costly risks to the continuity and survival of a business. In the news, regular headlines reveal that the abstinence of integrity collectively cost businesses billions of dollars in litigation, fraudulent financial acts, fines, reputation and image damage, lost sales and recovery costs, and potentially land top management in prison. No company is immune from these threats. Businesses must plan to manage integrity constantly by assessing their vulnerability to ethical disasters, taking proactive measures, and preparing their organizations to survive if a scandal arises. The literature review examines the ethical dilemmas that organizations face as well as provide valuable information to avoid a business ethics failure. The paper explores best practices that will keep organizations from encountering an ethical breach and demonstrates how companies are able to change the organization’s culture to foster a change if the company integrity has been compromised.

Best Practices to Avoid a Business Ethics Failure

A Review of the Literature

Ethical issues have been the downfall and demise of many companies not only in the United States, but globally. Ethics programmes and misconduct is fully mediated by ethical culture. A program of such can strengthen ethical culture and help to reduce unethical behavior in organizations. Companies with strong ethics programmes report improvements in ethical conduct, and programmes have a positive effect on employee behavior, ethical attitudes and corporate culture. Examining the significance of ethical issues that challenge the profession, possible influences on ethical...