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Legal and Ethical Issues Faced by Managers

In: Business and Management

Submitted By mrso
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Pages 4
Identify five specific ethical issues that 21st century ethical managers must confront. Which of the ethical perspectives described in this chapter seems best suited to resolve such ethical issues? Why?
In studying and evaluating ethics and legal aspects in business, it is right to be concerned with the potential ethical issues that managers face in the 21st century. There are countless legal and ethical issues faced by managers in today’s business world, and sometimes unless you are the one in the management position it is likely that you are completely oblivious to the legal and decisions faced by managers. There are however, some legal and ethical decisions that are quite common and can be readily identified or recognized by the public’s eye as a result of mass media or common knowledge. Among the recognizable ethical issues are bribery, discrimination, deceptions, falsifying financial documents, and violation of worker’s rights.
First, when it comes to bribery, the ethical issue often occurs in global business due to the undefined lines of business overseas. Companies are bound by the Foreign Corruptions Practices Act (FCPA)that defines lines for global business however not all global businesses practices such high levels of ethics as the United States and influence and bribery, sometimes named gifting or courtesy, may be hard to identify outside of the United States. The FCPA website identifies “Financial institutions [as] the most impacted group under the legislation as they are required to meet stringent requirements relating to the use of the global financial system by criminals (www.fcpa.gov, 2012), however the guidelines are definitively identified in the FCPA law. For government contractors with foreign interest, companies are required to identify themselves to the government for oversight purposes.
Second is the issue of discrimination. As

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