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Business Ethics in Today's World Research Proposal
Pages:2 (642 words)
Subject:Ethics
Topic:Business Ethics
Document Type:Research Proposal
Document:#36444501
Without this duty to take car of one another, government and society would have no reason to exist. Because man is a social creature, it seems reasonable that society is meant to exist, but that society will only be stable as long as everyone in it is treated fairly -- that is, ethically. Therefore, business ethics are not only important for the longevity and profitability of a specific individual business entity, but also for the advancement and stability of society as a whole.
One common business problem is reporting a loss to investors. The Enron scandal involved "creative accounting" to hide losses and so continue outside investment. Had the people at Enron behaved ethically and explained the situation honestly, they almost certainly would have suffered a loss, but the company might have survived. Accounts should always be presented honestly for this reason.
The mortgage issue is somewhat similar to the Enron scandal, but instead of being dishonest to investors lenders were dishonest with themselves. This illustrates an even more common business ethics issue -- the ability that the prospect of profit has in clouding judgment. In such situations, the most effective way to make a sound ethical judgment is to look at the possible outcomes of a scenario without including profit -- in some cases, increased profit can and should increase the level of risk taken, but when other people's money and homes are involved, profit should not be a part of the calculation.
A third ethical issue common to both of the above issues is one of respect for the consumer. Businesses often lose sight of thefact that al money is eventually attached to individual human being. Keeping in mind the gold rule of treating others as you yourself would like to be treated pretty much guarantees ethical behavior, and as we have seen this can be a help to a business's bottom line, too.
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