...Ethics in the workplace: Is business Ethics an Oxymoron? If the main purpose of a company is to maximize returns to its shareholders, then should deviating from this path be considered unethical? Ethics has several different rolls with in the workplace and an organization. While the most essential rules of conduct are handed down from the state, having an ethical way of doing business provides long term sustainable returns by reducing risk-taking and in many instances actually increasing business. In essence a corporation is never a single autonomous entity but a hive of people, each with the ability to act in either morally upright or corrupt fashion. A culture of morally duplicitous behavior attracts others who share the same conduct. A company is therefore defending itself and its future wellbeing by investing time and effort in the present. The best understanding of the full scope of ethical dilemmas in the workplace is best analyzed by first determining the ethically judged. While many organizations have codes of ethics, it is also true that individual employees also must maintain their own ethical agenda. It is therefore impetrative to analyze all parties involved and work to discover their motives. The values in being perceived as ethically minded are numerous, research shows that those judged more ethical are also perceived to be better candidates for senior leadership within an organization. It is also clear however that ethics is far from a flawless science. Ultimately...
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...Monsanto’s pledge on business ethics: Oxymoron? “Producing more, conserving more, improving lives – that’s sustainable agriculture. And that’s what Monsanto is all about. Billions of people depend upon what farmers do. And so will billions more. In the next few decades, farmers will have to grow as much food as they have in the past 10,000 years – combined. We work alongside farmers to do exactly that by selling seeds, traits developed through biotechnology, and crop protection chemicals. We are working to double yields in our core crops by 2030 with one-third fewer resources such as land, water and energy per unit produced and helping farmers to raise themselves from poverty to prosperity, along with many more people.” (Compiled from www.monsanto.com) On its website, Monsanto positions itself as a relatively new agricultural company that aims to help farmers produce healthier food by increasing productivity, repressing weeds and combating insects while ensuring that environmental standards are not only met but exceeded, and while protecting the safety of people and communities. Its leading product is ‘Roundup’, world’s best selling agriculture herbicide for the last thirty years. Monsanto is also the world leader in biotechnology. 90 percent of GMO (Genetically Modified Organism) crops grown on the planet belonged to Monsanto (1). But then Monsanto is also arguably the world's most controversial company, praised by those who see a future of environmentally friendly farming...
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...Monsanto’s pledge on business ethics: Oxymoron? “Producing more, conserving more, improving lives – that’s sustainable agriculture. And that’s what Monsanto is all about. Billions of people depend upon what farmers do. And so will billions more. In the next few decades, farmers will have to grow as much food as they have in the past 10,000 years – combined. We work alongside farmers to do exactly that by selling seeds, traits developed through biotechnology, and crop protection chemicals. We are working to double yields in our core crops by 2030 with one-third fewer resources such as land, water and energy per unit produced and helping farmers to raise themselves from poverty to prosperity, along with many more people.” (Compiled from www.monsanto.com) On its website, Monsanto positions itself as a relatively new agricultural company that aims to help farmers produce healthier food by increasing productivity, repressing weeds and combating insects while ensuring that environmental standards are not only met but exceeded, and while protecting the safety of people and communities. Its leading product is ‘Roundup’, world’s best selling agriculture herbicide for the last thirty years. Monsanto is also the world leader in biotechnology. 90 percent of GMO (Genetically Modified Organism) crops grown on the planet belonged to Monsanto (1). But then Monsanto is also arguably the world's most controversial company, praised by those who see a future of environmentally friendly farming...
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...American Business Ethics a Modern Day Oxymoron The dictionary defines an oxymoron as a figure of speech that combines contradictory terms. Examples of this are dark light or living dead. This term is related with business because although most companies have a small book outlining ethics and guidelines that should be followed on a daily basis, many of them do not fully comply. The oxymoron “American Business Ethics” contradicts American Business with Ethics. The ethics of many American companies are not law but should be treated as such however these regulations are rarely followed and sometimes not followed at all. The risks that companies have been taking to increase profits and put more money into the CEO’s pockets use illegal actions. In recent times, companies such as Enron, Wal-Mart and BP have been guilty of multiple charges against ethical principles which have led to bankruptcies, housing market crashes and environmental disasters. The most famous case related to Enron and their aggressive accounting practices of reporting losses as profits to keep the stock price high. This act ultimately led to the bankruptcy of the company. Enron was founded in Omaha, Nebraska by Kenneth Lay in 1985. It was an American energy, commodities and services company based in Houston, Texas. Enron was once viewed as one of the best companies in America during its initial years of operation. Fortune magazine named Enron “America’s Most Innovative Company” for six consecutive years...
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...Is Sales-Ethics an Oxymoron? Globalization highlighted the ethical issues and concerns for every individual organization, multinational organizational conduct their operations under ethical code of conduct to confine the issues faced by unethical conducts. Many organizations such as pharmaceutical firms, technological firms and financial firms pay more attentions to ethical behavior to ensure the sales to consumers have been impeccably ethical. However managers pay attention to behavioral ethical conducts that ensure the professional attitude of sales force towards consumers/customers (Chen & Tang, 2006, 69). Recent unethical conducts by Enron and WorldCom highlighted the attention for sales and ethical behavior, because unethical conduct and sales ethics can ruin the whole organization wide reputation (McDevitt et al, 2007, 73). Business ethics is counter stone for doing business in industry that however considered by every single organization, which eventually encourages every single business entity to develop the organization’s processes based on ethical conducts. Business ethics and sales ethics both entails the same meaning because ultimately salesperson engages in the business activity to generate profits for business, but on contrary “business ethics” and “sales ethics” have no contradiction in associations. Sales ethics on the other hand have some stereotype meaning because business and sales people are not always ethical; leaving us with a dilemma that indicates...
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...‘Sales ethics is an oxymoron’ Ethics is a very important and influential factor in interpersonal relationships which involve persuasion and leadership. When one has to rely and relies on the integrity and objectivity of the other person, ethics become all the more important. The correctness and incorrectness of intentions and behaviours in dealing with others, when they are encompassed with morality, are called Ethics (Boldrin and Levine 2008). According to Katalin (2005), ethical conduct involves a person observing established and accepted principles of morality of his /her own profession. Ethics provides the rationale for deciding what is right or wrong in given circumstances. Ethical standards in a society form the basis on which the ethical standards of a profession are built. Sales profession of organisations is no exception to this rule. But growing competition among business organizations and industrial houses prompt them to resort to marketing and selling strategies, which many times appear unethical. It appears that organizations resort to any practice that props up their sales (Dobson, 1997). Even established organizations are falling prey to such temptations. Misleading advertisement about non-existing features in product, wrong assurances on quality and alluring and tempting promises on characteristics like durability have become commonly accepted norms of marketing strategies. Not surprisingly the consumers...
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...Is Sales Ethics an Oxymoron? Introduction It has been said that sales ethics is an oxymoron. In this paper, this topic will be discussed. First, what is an oxymoron? It can be explained as the bringing together of two apparently contradictory concepts such as 'a great defeat' or 'humiliating honor'. From this topic, it is saying that sales ethics is an oxymoron which indicates that there is no ethic in sales. It is suggesting that sales are in some degree unethical. For example, it may believe that ales or business is integrally harmful. Or we can say it is at best amoral and it is beyond the normal moral considerations. In order to better discuss the statement of the question, it is necessary for us to define the meaning 'sales ethics'. Sales or business ethics is the application of ethical values to business behaviour or sales function. When the first trade happened the argument of sales ethics (business ethics) has had drown a great attention (i.e. the Code of Hammurabi, created nearly 4,000 years ago, records that Mesopotamian rulers attempted to create honest prices. In the fourth century BCE, Aristotle discussed the vices and virtues of tradesmen and merchants. The Old Testament and the Jewish Talmud discuss the proper way to conduct business and even includes topics such as fraud, theft, misleading advertisements, environmental issues and just prices. ) Throughout the history of commerce to today, the issues of business ethics is a continuous source of debate as it...
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...Is Business Ethics an Oxymoron? Copyright: Daryl Koehn I have taught business ethics for ten years, and I would be rich woman today if I had a dollar for every person who has said to me, "Business ethics. Isn't that a contradiction in terms?" Sometimes businesspeople make this comment. More often, though, the skeptics are people outside of business. Those who actually work in business know that business ethics is a serious issue for a number of reasons. Businesses obviously care about the ethics of their managers and employees. Managers who embezzle large sums of money can destroy a firm. Sexual harassment by employees may lead to multi-million dollar legal settlements. A firm may be hit by substantial fines if employees lie to customers, misrepresenting the features or risks of products. Firms may want to maximize profits but they certainly do not want employees who try to line their pockets by whatever means possible. Firms equally care about the ethics of their customers. Retail stores suffer huge losses each year due to shoplifters. Unscrupulous customers buy pieces of clothing, wear them and then return them, thereby depriving stores of deserved revenue. When customers are very abusive, firms may find it difficult to retain employees willing to serve the public. In more general terms, businesses must care about ethics because businesses are part of a human community. Communities are held together by virtues and sound mores. As Aristotle puts it, a person without ethics is...
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...ALVERO, Marjorie Lalaine T. SPFINMAN, S31 (3rd Trimester, 2011-2012) Dr. Cesar A. Mansibang CREATING VALUE OUT OF INFLATION (Reflection Paper# 1) What constitutes a good company and how business is conducted have been drastically redefined to measure not only performance, but increasingly an importance is placed on compliance records. This was due to the corporate scandals and collapse of major financial institutions which then resulted to a more exacting and stringent reportorial rules and corporate ethical behavior. TeaM Energy’s President and CEO, Mr. Federico E. Puno believes that it is important that all employees are aware of the standards of behavior required from all them. As Mr. Puno quoted, “It is our way of life, our moral fiber, our soul… Put it to heart and live it out.” The standards of behavior TeaM Energy has is referred to as the Code of Ethics and Business Conduct which outlines the behaviors expected from its employees and serves as a moral compass that help them to navigate through confusing ethical questions that they may face in the daily conduct of business. Ethical Behavior Sustains and Promotes the Interests and Well-being of a Business TeaM Energy’s Code of Ethics and Business Conduct represent the core beliefs that the company aspire for. It is also based on the mission, vision and core values that the company demonstrates. One of which is “Acting with Integrity’ which requires us to comply with laws, rules, regulations and contractual...
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...Ethics Essay Ethics emphasizes that something is “good” and that the group will strive toward the goodness. It is doing the “right” thing. When reviewing, ethics there are different ethical theories of utilitarianism, deontological, and virtue ethics. The Utilitarianism belief is that more good should come from a decision than harm. When reviewing if something is right or wrong a thorough inspection will take place regarding the possible solutions. The Utilitarianism will look for different options and weigh out each benefit or consequence. Whichever option has the best outcome for all at stake will be the correct solution. An example of this is a business opening up earlier and staying later. Even though employees may not want a longer work day it will be best for the customers. The Deontological belief is to make sure the right thing happens out no matter what consequences are or who may be affected. The Deontological decision-making process follows that of Western biblical tradition. The process is entirely “action” based on principals like the “Golden Rule” and “Do unto others as you would have them do unto you.” An example is a coworker is illegally working through lunchtime to get ahead. It is nice the work is current, but they are obtaining this illegally. Virtue ethics strongly focuses on the motivation and intentions of an individual. This reflects on rules and consequences, but a large part of an individual’s character. The Virtue Ethics process will...
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...Sales and ethics – an oxymoron? By Tony Cross, UPSA Chairperson Tony suggests sales and ethics are compatible. Even if we sometimes don’t think so. Driving sales & revenue targets and remaining ethical in the process is difficult. But essential for sustainability. UPSA has a strong view on ethics and has released the UPSA Buyer's Bill of Rights designed to give buyers a level of confidence in the approach, attitude, consistency and ethics of the selling organisations. Anyone who has picked up the business or financial section of their daily newspaper over the past year has read story after story about unethical behaviour by South African companies. The media’s ongoing coverage of executive deception, corruption, greed and non-disclosure has made headline news and has required government to mediate between regulatory bodies and corporate legal teams. It is no different internationally, with massive companies like Enron, WorldCom and Arthur Anderson displaying unacceptable capitalistic behaviour to such a large extent these companies have disappeared from the corporate landscape. Business in general, and industry sectors such as financial services, health, government and technology are no longer trusted fully and the sad truth is that business itself is to blame. Corporate executives – and specifically Sales Executives, in the quest to meet the annually increasing shareholder demands, have often slipped into a culture of selfinterest. Ethical behaviour is seen as a compliance...
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...On Ethics and Economics Amartya Sen Blackwell Publishers, 1987, pp. 148, Rs. 271 ‘On Ethics and Economics’ by Amartya Sen centres on a particular phenomenon that the author considers unfortunate to the discipline. In this book, Amartya Sen talks about the continued and ever increasing distancing of economics from ethics. This book has three chapters and under each chapter, there are sub topics. That makes the book more structured and easy to understand even for a person who is not so competent in the study of Economics. Though the book was written in 1987, most of the arguments still apply in todays’ world. Amartya Sen starts off with an Edward Clerihaw Bentley verse about a major practitioner of political economics and this sets the tone for the rest of the book. The author basically tries to argue that ethics-related tradition of Economics dates back to the days of Aristotle and that Economics ultimately goes hand in hand with the study of Ethics and Politics. Amartya Sen certainly and in a very obvious manner, questions the disassociation of the study of Economics from that of ethics and political philosophy. Hence, this book is undoubtedly a very important reading for those who are interested in connecting the dots between economics and business ethics. Professor Sen, while agreeing that the ‘engineering’ approach to Economics has been often fruitful, criticises the same ‘engineering approach’ by saying that it has substantially impoverished the modern economics because...
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...Business Ethics across the World Have you ever measured that how different countries become closer to one another and it has produced alike views for countries that do business together due to globalization? Through the growth of globalization several ethical issues are getting exposure according to management teams. You can imagine if ethic is dilemma within the country then how about the issues that occur due to foreign language, diverse cultures and number of people involved grows to a global scale. This paper will identify ethical perspectives of two countries, India and China, and how these two articles contribute to understanding global ethics. It will also explain how china’s and India’s business ethics compare to the United States. In journal of business ethics (2009), article “A Chinese perspective: Business Ethics in China Now and in the Future”, describes that China has been at the forefront of growing concern, not only about its products and enterprises, but also about its business ethics. This article analyzes the state of ethics in business in China. China now manufactures or assembles over 50% of the world’s products. However, the world has been reeling from daily accounts of defective “Made in China” products. China has been at the forefront of growing concern, not only about its products and enterprises, but also about its business ethics. This article analyzes recent events connected with the Made in China label from the perspective of evolving Chinese business...
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...WorldCom’s Ethics and Competitiveness By NaShawn Branch “A man without ethics is a wild beast loosed upon this world.” - Albert Camus Nobel Peace prizewinner, Albert Camus compared the actions of an unethical man equal to that of a beast. Following Mr. Camus’s assumptions leads one to question, are business leaders who act in an unethical manner considered beastly? How have unethical business leaders changed the way in which companies do business? All businesspersons that act in an unethical manner, regardless on the time era, eventually fail and the ramifications always affect society in the long-term. The socially irresponsible and illegal behavior by these organizations and their leaders cause hardship for thousands of people, damage the loosely woven fabric of civil society, and contribute in creating a moral climate of distrust and cynicism. (Berry & Workman, 2007) Consequently, the lack of integrity degrades the public perceptions and therefore companies become financially bankrupt. The purpose of this paper is to outline unethical violations using World Com as an example. This paper examines the cultural context, the adverse change in business practices, and new research on ethics in the communications industry. Cultural context in the WorldCom Before MCI acquired WorldCom, this was the ‘goliath’ of the communications industry. WorldCom was one of the largest telecommunications companies with nearly $160 billion in assets. In 2002, the entire...
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...Ethics game simulation A principle exists as a feature or quality believed to be ethically outstanding and therefore is appreciated as a base of ethics and good start for a decent living being. Personal qualities are features cherished as promoting personal and communal comfort. G-BioSport is a business that supplies sports nourishment and supplements to its consumers. The company adheres to the modern Foodstuffs and Drug Administration (FDA) principles with their commodities. Nevertheless, new lab tests disclose traces of contagion in the total of the GBS-Fibranafren tests carries out. The liability is present in the Quality Control (QC) executive to recognize the problem and put the solution into practice. These recreations lay out the QC executive with numerous states of affairs and resolutions to two primary problems. Each recreation presents confronts in cooperation with the ethical and honest aspects involved. The first recreation displays the QC executive with lab results exemplify 100% pollution of the products investigated. A number of these tests are acquired from the commodities themselves in the market and under the ownership of the consumers. With such information, the matter shifts from whether or not to caution and what knowledge to offer to customers concerning the control of the contaminated commodities. What decision-making steps did you take to ethically address these issues? Considering the fact that business ethics exists as an outline of functional...
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