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Ethical Issues Paper

In: Business and Management

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Ethical Issues Paper

MGT/216
August 24, 2010
University Of Phoenix Prof. Craig

Ethics Issues Paper

Businesses are the foundation of today’s economy, and good ethical practices are vital for their success. Therefore, if a company’s base is blemished by practices that are immoral, the economy as a whole can be devastated. This paper will define business ethics and address ethical issues such as environmental liability, bribery, and distortion of facts that could affect my community. Business Ethics Defined

“Business ethics can be defined as written and unwritten codes of principles and values that govern decisions and actions within a company. In the business world, the organization’s culture sets standards for determining the difference between good and bad decision making and behavior” (White, 2010). Investor confidence is at its lowest point with various organizations participating in monetary mischief. Due to this fact, it extremely important for companies to take on lawful actions and present a professional image. Three ethical issues in business that can affect my community are environmental liability, bribery, and distortion of facts.
Environmental Liability One issue in today’s business world that that can affect my community is pollution. In today’s society, the notion of ecological responsibility is developing into a “pay per pollution” system where the originator of the contamination will be accountable for expenses of cleaning up and in particular scenario, the expenditures of the effect on overall well-being, which may be confirmed to have directly been caused from the source of the ecological crisis. For example, BP Corporation is being pressured by the government, as well as some stakeholders and community members to pay for damages caused by its massive oil spill. Although it can be cleaned up, it does not

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