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 bases
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To behave unethically is something we all know not to do. We all know that it is wrong however many people still do. There are three main reasons why people participate in unethical behavior. The first reason is because of an overzealous pursuit of personal gain‚ wealth‚ and selfish interests. An example of this would be the use of a ponzi scam. The ponzi scam was is a scheme that was named after a man named Charles Ponzi. The idea of a ponzi scam is that it pays returns to investors from their own
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Employee Behavior From large corporations to small businesses‚ individuals involved in all types of business often face ethical issues stemming from employee behavior. For example‚ whether an employee can spend work time checking personal email accounts‚ how a manager deals with claims of harassment and to what extent a manager can "groom" a certain employee for a promotion are all examples of ethical issues regarding employee behavior. There are legal consequences for some unethical employee behavior
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Q.3. Is there anything else that can be done to curtail this sort of egregious business behaviour (scandals) other than legislation? Legislation is a good method to guide and regulate the business behavior. Besides‚ the education is very important. If the whole society and the whole business world can have the good consciousness and ethical environment‚ the legislation may not so important. Q.4. In each case discussed at some length in this chapter – Enron‚ Arthur Andersen‚ WorldCom‚ and Bernie
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Ethical Issues The issue of ethical behavior is one of the top challenges facing organizations today. A good definition of ethics includes the thought of doing what is morally acceptable or what is “good” and “right” as opposed to doing what is “bad” or “wrong” (Sims‚ 1992). But why are these issues a concern for organizations? What can they do to promote ethical behavior from their employees? Organizations should be concerned with ethical behavior for many reasons. Even though ethical decisions
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Effective ethics and ethical behavior Memorandum and Report Carol Harris TO: Rebecca M. Melton‚ ABC Toy Co. CEO FROM: Carol Harris‚ Elementary Division Manager‚ ABC Toy Co. DATE: 6/5/11 SUBJECT: Product quality issue and a report on ethical decision making. This memo addresses a product quality issue with a whistle included in our toy collection. I have included a report on the importance of ethical decision making
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Can fair trade really be fair? Admittedly‚ fair trade has several shortcomings. Firstly‚ fair trade makes farmers become over-dependent social groups. In fact‚ farmers are not learning the real skills for them to survive‚ in contrast‚ they are becoming depend on fair trade organizations to gain limited income. However‚ under such circumstance‚ farmers are fragile to suffering from financial crisis because of their negative position. According to Jeffery(2012)‚ farmers are just receiving another form
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Values and Ethical Communication Behaviors Values The subjective assessments made about the relative worth of a quality or object. Therefore‚ values become part of complex attitudes sets that influence our behavior and the behavior of all those with whom we interact. Organizational Value Systems Values are part of the shared realities generated through organizational communication. These shared values are reflected in organizational myths‚ stories‚ mission statements‚ physical surroundings
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Procedures to Ensure Ethical Behavior The Walt Disney Company has several procedures in place to ensure ethical behavior. The first procedure in place is effective internal controls over financial reporting. The Walt Disney Company used the independent registered public accounting firm of PriceWaterHouseCoopers LLP for the auditing of its financial statements and internal controls for the year ending 2009 and 2010. This independent auditor found the financial statements to be presented fairly and
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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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