Ethical and Moral Issues in Business
While ethics refers to understanding and adopting moral values such as code of conduct, morals are the beliefs of individuals determining what is right and wrong in behavior. Although organizations may have set rules to standardize a working environment, individuals may follow standard procedures while the morality solely lies in individual behavior. While groups and organizations may provide values of establishment within a working environment, moral issues may obtain examples of lying, stealing and cheating. Personal ethics may also obtain morality and may affect an individual’s goals which may differ from business ethics. Business ethics have company policy and standards in which employees must follow such as being respectful within the environment. As there are many differences to compare between ethics and morality, common problems do occur in businesses because of the human traits of greed. Why do ethical problems occur in businesses today? The majority of times, invidividuals can be selfish obtaining values of self interest which may lead to unethical conduct (William, 2009). Whether issues lie in management, work centers or between individuals, the results of the companies may be directed towards poor company performance and bad reputable perceptions from overall consumers. Research has shown that companies with poor and lower in profits are more prone to commit unethical acts (William, 2009). Fixed-pricing is an example of unethical problems which, avoids fair competition between companies. This is an unlawful agreement between manufacturers, which is considered illegal in the United States (William, 2009). Stealing and lying is also one of many common problems within businesses. For example, individuals working in IT may take and steal computer parts like HDMI cables rather than going to Fry’s electronics to pick one up for personal use. When it is time to...