Can Business Ethics Be Taught

In: Business and Management

Submitted By bosede20
Words 1109
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“It takes 20 years to build a reputation and five minutes to ruin it” claims billionaire Warren Buffett. “If we think about that, we will all do things differently.”

Bernie Maddof and Martha Stewart had their reputation permanently ruined in the business world due to poor business decision making, likewise their involvement in financial crime and unethical business practices. If the above mentioned people had the opportunity of turning back the hands of time, they would have done things differently and be more ethical in their business practices.

Sarbanes-Oxley Act of 2002 is a United States federal law that set new standard for ethical business practices for all U.S public company boards, management and public accounting firms. The bill was enacted as a reaction to a number of major corporate and accounting scandals which cost investors billions of dollars. Many experts think business Ethics can be thought and examined in business schools, but the question is, is it possible to enforce or instill the act of doing right things and making right decisions at all times in the business world?

Ethics is a branch of philosophy dealing with values relating to human conduct with respect to the rightness and wrongness of certain actions and to goodness and badness of the motives and ends of such actions. Where as, Business ethics is the study and examination of moral and social responsibility in relation to business practices and decision-making in business. In response to the numerous corporate and financial crimes, we may ask ourselves; do business leaders and board room management meetings focus on ethical business practices and decision making? And can the act of Business ethics be taught and imbibed by students in business schools before becoming business leaders and going to the boardroom for decision…...

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