What Is Business Ethics

Business Ethcis -220-w01 Instructor: victor lipe |

What is Business Ethics |

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7/20/2009 |

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What is Business Ethics

In today business world we can help but understand why some many companies like WorldCom, ERON, and many others have been so easily corrupted by greed or power. In today’s business world, firms need to be aware of practices that may cause criticism and scandals. Investigative reporters, lawyers, and big brother governmental agencies are lurking in the wings.

Most of the business ethics address how we see individual in business today and most of us tend to draw our ethics from life living issues we face every day. We see have the profit of doing business in the world can led to what we believe as being the “good ol’boy thing.” If you are not part of the party then you are out the door. It’s like any business profit is the key! So how can business ethics fully work into what we call today transactions of doing business legal? Another way of putting it business ethics is comprises of understanding the principals and standards of behavior. So why do we study business ethics? Ethical misbehavior has really gotten out of hand within companies a major concern is business today have specific issues that must be address. Let’s look at Verizon and how today they are still around doing business. It starts with WorldCom of course and the questionable accounting practices and improperly recorded of $3.8 billion in capital expenditures. At a hearing before the House Financial Services committee, Bernard J. Ebbers made a statement professing his innocence, and then invoked the Fifth Amendment of the U.S. Constitution to protect himself against self-incrimination. One congressman told Ebbers, "Your silence may have saved you today but we're going to get answers. If you flush down the drain the retirement savings of millions of investors, you will and you should go to jail. Now the question still reminds how you can stay in business...