MGT 216 – Organizational Ethics and Social Responsibility
Instructor: Cassandra N. Jackson
Ethics Issue Paper
Week One Individual Assignment
University of Phoenix – Southfield Campus
February 3, 2010
Ethics is defined as; a set of moral principles or values. Some people may consider ethics as knowing right from wrong or using good judgment. However, one person’s moral principles and values, are not necessarily the same as another person’s.
In the business world, ethics are the principles, norms, and standards of conduct governing an individual or group (Managing business ethics p. 13). Standards of conduct are rules enforced by an organization for all employees to follow and abide by. Companies often publish these standards in either an employee handbook, code of conduct or policy manuals, which are easily assessable to the employees (Managing business ethics p. 14).
Such guidelines may include sections about company confidentiality, like discussing with non-employees the development of new products before production, whether accepting certain gifts from clients is appropriate or not, and how company documents should be treated. What is considered insider information such as product pricing lists or confidential financial information. Even though employees agree by most companies policies regarding ethics, they sometimes easily forget when tempted or approached with an opportunity to move ahead within the company or have something to gain out of the situation.
Lack of business ethics has been significantly apparent over the last 10 years, by large corporations such as Enron, Tyco, and once highly respected accounting firms, Arthur Anderson. Because of greed, power, and lack of ethics, the repercussions that resulted from the illegal practices by their executives effected many innocent employees, business partners and investors. Not only did their fake transactions, bogus subsidiaries, and fraudulent financial figures ruin their... [continues]
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