Discuss and illustrate the classifications of ethical issues discussed in the text. According to the textbook‚ Business Ethics: Ethical Decision Making and Cases‚ an ethical issue is “a problem‚ situation‚ or opportunity that requires an individual‚ group‚ or organization to choose among several actions that must be evaluated as right or wrong‚ ethical or unethical” (Ferrell 65). There are fifteen basic classifications of ethical issues in business that can be broken down into three categories
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corporation often come across and have to deal with on the job ethical issues. “Ethics is a conception of right and wrong conduct. Ethical business behavior is demanded by business stakeholders‚ enhances business performance‚ complies with legal requirements‚ prevents or minimizes harm‚ and promotes personal morality” (Lawrence and Weber 2011). Ethic issues occur in all areas of business and at all levels of business management. I believe that ethical problems occur for certain reasons one being the selfishness
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responsibility to conduct business in a way that is not harmful and which positively benefits as many people as possible and themselves. Although this sounds simple‚ it is easier said than done! as there will always be a conflict of interest between various groups of people. Any decisions made by businesses need to be made with an informed awareness of the specific situation and then act according to some sort of system of principals which is Business Ethics. Business ethics are the key to profits
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A Business Ethical Duty: Social Responsibility Joe McClendon Western Governors University A community business has a social responsibility to its local community‚ its employees have an ethical duty their employer‚ and management has business responsibility to act in the best interest of stakeholders. Company Q is a small local grocery store chain located in a major metropolitan area. The company is struggling internally with ethical integrity and social responsibility. Company Q’s ethical
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make additional acquisitions‚ support its $30 billion debt‚ as well as allow executives to cash in on their stock options. The final reason why people participate in unethical behavior is because the company culture puts the bottom line ahead of ethical behavior. This is exactly what happened at Enron. Enron had a program called “rank and yank.” In the “rank and yank” process your performance is evaluated yearly and if you are ranked the 15-20 percent lowest ranking employees you are let go or encouraged
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Families provide people with an atmosphere in which to live‚ grow‚ and develop. A family culture is established by the parents and instilled in the children during their upbringing. A healthy family is a family which follows a set of strong morals‚ stays loyal to one another‚ cooperates‚ and works together to avoid conflict. An environment where there is openness amongst family members is ideal because minds that are open are more susceptible to avoiding conflict than minds that are closed. If
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Ethical Behavior in Business Ethical Behavior in Business Ethical behavior refers to behaviors that are appropriate. Ethical behaviors are based on morals. An ethical behavior is considered the right way to behave. It involves selecting the right from wrong. People have to conform to the standards set by the organization by choosing what is right and what is wrong. Business ethics is a kind of applied ethics or professional ethics that is aimed at examining the ethical
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Legal‚ Cultural‚ and Ethical Challenges Paper University of Phoenix MGT/448 Jamal B Ibrahim February 07‚ 2011 Legal‚ Cultural‚ and Ethical Challenges Paper As the United States economy waxes and wanes‚ commerce in the workplace changes to create new ideas for more and better sales. Global outreach for company expansion has taken the new economic conditions by storm for the consumer and American corporations. Company core values are built on the foundation of ones ideas and broadcast
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Is Business Bluffing Ethical? When people doing business‚ they may use different ethical standards other than what we use in daily life. The majority businessmen manage their business legally; however‚ not all legal business is ethical. I do not think that business bluffing is ethical. I will provide three arguments in following paragraphs which are based on theories of groupthink‚ consequentialist and duties to support my position. First of all‚ according to the theory of duties
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Individuals who are engaged in international business transactions have reported a cultural component to ethics. You are working on opening a branch of a food distribution operation in a foreign country‚ and a local official suggests that a little cash would help your company get started. Research international business and ethical standards‚ and answer the following questions: Q 1. In what ways can culture affect ethical standards and shape business behavior? A. In a way that some countries ethics
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