Ethics Paper

In: Business and Management

Submitted By dioxnkr12
Words 1023
Pages 5
Ethics Paper
Mgt/498
July 4, 2012 Ethics Paper Companies must accept responsible for the consequences of the actions and pass these ethics policies to their employees. “A 2007 survey of global executives by The Economist Intelligence Unit found that the percentage of companies given either high or very priority to corporate ethics and social responsibility had risen from less than 40% in 2004 to 50% 2007 and still rising” (Wheelan, 2010 p. 74). The author of this paper will discuss how the role of ethics and social responsibility will effective stakeholders and society. In addition, the author will discuss how the Arthur Andersen Corporation overstepped their ethical boundaries to their stakeholders.
Ethics and Social Responsibilities Ethics spells out the important in order to achieve a specific result within the organization in existing or occurring issues. Moreover, the way people as a society make ethical decisions in his or her personal lives, is not necessarily the same way they make decisions in a business environment. Upper management implements ethical policies for all employees, this information should be updated continually through manuals or on the company’s website. Organizations in the United States use two views for business responsibility in the area of ethics Milton Friedman’s and Archie Carroll’s view. Friedman’s view is widely accepted in the business environment. According Friedman the best approach in business and for sociality is “ to used its resources and engage in activities designed to increase its profits so long as it stays within the rules of the game, which is to say, engages in open and free competition without deception or fraud” (Wheelen, 2010, p. 72). For example, General Mills spent millions in charity, community events, and…...

Similar Documents

Ethics Paper

...Code of Ethics Paper Ethical dilemmas in medicine are nothing new. They have been recognized and discussed in Western medicine since a small group of doctors. The Hippocrates was invented around the fourth century. New graduated doctors are to uphold this code of practice till today. In earlier times when doctors had only limited abilities to change the course of disease today can they intervene in ways that most fundamental processes of life and death. Ethical dilemmas in medicine are no longer considered the sole region of professionals. Professional code of ethics offers some guidance, but they are usually unclear and uncertain about what to do in specific situations. These codes assume that whatever decision is to be made is up to the professional not the patient. Today patients, families, and clergy want to become involved in ethical decisions. In large societal decisions such as how science medical resources, including high technology machinery, newborn intensive care units, and the expertise of doctors. While the doctors and patient relationships and individual cases are still prominent in bioethics. Bioethics began in 1950’ s as an intellectual movement among a small of doctors who started to examine the questions raised by the new medical technologies that were starting to emerge as the result of heavy costs of public funds in medical research after the war. That was joined by a number of scientists who has become disillusioned with what they saw....

Words: 1002 - Pages: 5

Ethics Paper

...Finance 324 Ethics Review Paper Howard W. Bolton August 30, 2006 Ethics Review Paper In many corporations due to the times changes, the competitive nature, and new innovative ideas to generate business, these corporations had no other alternative but to restructure their goals, objectives, and ethical plans. However, because of the adjustments not all companies chose the morally correct path. Instead many corporations chose the unethical approach. According to an article that appeared in the Wall Street Lawyer in July 2003, states that, “the outrage over ethical and financial misconduct by the senior management of public-companies led to the passage of historic legislation redefining the roles and responsibilities of corporations and those who serve them. Greed and manipulation of accounting standards raised many questions about the values of those at the helm of the organizations that rely on the public markets, as well as the system of checks and balances that exist in corporate America”. (www.ethics.org) In this ethics review paper, the author will be examining the detailed changes issued by the New York Stock Exchange and modified by the 406 of Sarbanes-Oxley, which deals with addressing unethical conduct and their reasoning for these methods. The disaster, which occurred at Enron in 2003 where the company’s officials made terrible decisions to waive provisions within their code of ethics, resulted......

Words: 592 - Pages: 3

Ethics Paper

...Ethics and Social Responsibility “The concept of social responsibility proposes that a private corporation has responsibilities to society that extend beyond making a profit.” (Wheelen & Hunger, 2010 p.72) Social responsibility considers the customers, employees, shareholders, communities, interests and social- environmental consequences of their business activities. A strategic approach, companies can determine activities to devote to being socially responsible and choose activities which will strengthen their competitive advantage. Companies develop strategies with voluntarily integrated social and environmental concern in their business operations (Padala & Suryanarayana, n.d.). The purpose of this paper is to explain the role of ethics and social responsibility in developing a strategic plan while considering stakeholder needs and agendas. Ethics Ethics is described as the control over dealing with the bad and good with moral duty and obligations and business ethics is concerned with the justice, truth and a variety of other aspects including the expectations of fair compensation, society, public relations, consumer autonomy, advertising, social responsibilities, and corporate behavior within the home country as well as abroad (Padala & Suryanarayana, n.d.). Managers and top level management have a responsibility to establish ethics by creating a code of ethics for an organization. Establishing a business code of ethics can offer a basis for which......

Words: 264 - Pages: 2

Ethics Paper

...Ethics Paper Ethics along with other components are key in ensuring a company’s success in the end. Nowadays more and more companies have to deal with either unethical employees or unethical business practices being overseen by its CEO’s or senior leadership. It is a company’s responsibility to ensure its employees and its stake holders are taken care of in regards to how the company runs its everyday duties. What is meant by that is, the company has to ensure it business practices are in line with guidelines from the federal and state perspective. They have to make sure that they do not ethically break a law and put themselves, employee and stakeholders in jeopardy of losing profits and ultimately losing employees and stakeholders. Ultimately, it is the company’s responsibility to make sure they socially adhere to standards that make them ethically sound. A company has to keep in mind that when they are formulating a strategic plan, it has to encompass all of the major components, but at the same time, it needs to include ethics. There have been many companies that have not incorporated ethics in to its strategic plan and as a result have since been an example of what not to do. Let’s be real, there are a lot of temptations out there in the business world and a majority of that temptation comes in the form of either manipulation of information or just right out stealing of company’s assets or even its stakeholders money. Recent developments in the financial services......

Words: 871 - Pages: 4

Ethics Paper

... Ethics Paper Joshua Gilmore MGT/498 10-28-2013 Dr. John Olmstead Introduction Companies and organizations have many plans and goals that are set and chased after year in and year out. The main objective in the end is profits and a company cannot stay afloat if it isn’t profitable. Every company has its ways of being profitable. Ethics plays a large role in a company’s success and could make or break a company in the long run if the company does not practice responsible ethics. Having proper ethics is very important in our ever day life and now with consumers it is important that our companies and organizations are also acting with proper ethics. Some believe that helping the community around the company and abroad is the ethical thing to do and some believe that providing a good product at a good price is being ethical. Role of Ethics and Social Responsibility The concept of social responsibility proposes that a private corporation has responsibilities to society that extend beyond making a profit (Wheelen & Hunger, , 2010). There are many responsibilities in developing a strategic plan and the role that ethics play in the development. Chapter three of (Wheelen & Hunger, p. 70, 2010) speaks on a company that decided to not reach out to its stakeholders before making a move and decided to move to help the community around the company and abroad by spending a lot of the profits to reach out and better the......

Words: 738 - Pages: 3

Ethics Paper

...Reporting Practices and Ethics Paper Reporting Practices and Ethics Paper The four elements of financial management are to plan, control, organize, and make decisions these are tools that are in practice in all industries of business. The elements are a key to the financial management these are the resources that will be effective in running an organization. There are financial and managerial accounting both purposes are intended to manage a organization these accounting principles are to address the organization needs, and report any transactions, and changes that will occur with in and out the institution. The major ways to prepare the financial statements, for precise accounting balance sheet are records that the organization owns, and it also informs what the company net worth. Every company needs a statement of revenue and expense in order to know the outflow and inflow of revenue, and the statement of fund balance and net worth are amounts in revenue that plays a major mechanism for any institution. Then there is the last element of financial statements of cash flow, this effect with the other three reports. With larger businesses, it can be inviting to abandon ethics just to make acceptable revenue. Furthermore, the smaller business specific individual is practically independent in his or her judgment making him or she does not have to answer to any staff base or a director. It is also remarkable to note that a smaller company CEO regularly has his or her......

Words: 886 - Pages: 4

Ethics Paper

...Ethics Paper Shelia Chaney University Of Phoenix MGT/21- Organizational Ethics & Social Responsibility Rose Nolen July 22, 2010 Week 1 Ethics According to Trevino and Nelson (2007), some of the controversy about whether ethics can or should be taught may stem from disagreement about what we mean by ethics. Ethics can be defined as “a set of moral principles values, a definition that portrays ethics as highly personal and relative. I have my moral principles, you have yours, and neither of us should try to impose our ethics on the other. But the definition of ethics the principles, norms, and standards of conduct governing an individual or group focuses on conduct. We expect employers to establish guidelines for work-related conduct, including what time to arrive and leave the workplace, whether smoking is allowed on the premises, how customers are to be treated, and how quickly work should be done. Guidelines about ethical conduct aren’t much different. Many employers spend a lot of time and money developing policies for a range of employee, from how to fill out expense reports to what kind of client gifts are acceptable, to what constitutes a conflict of interest or bribe. If we use this definition, ethics becomes an extension of good management. Leaders identify appropriate and inappropriate conduct, and they communicate their expectations to employees through ethics codes, training programs, and other communication channels. This paper will address issues......

Words: 670 - Pages: 3

Ethics Paper

...Ethics Paper MGT/498 Ethics Paper Any business that expects to not only turn a profit but have longevity in the market has to operate ethically. A publically traded company has more than the bottom line of earning money, but a responsibility to be a good steward of those profits for their employees, stakeholders and clients. Along with ethics is the social aspect of business which go hand and hand if a business doesn’t act ethically responsible then the social ramifications will be poor as well. When a company forms it is a foundation built from an idea a person has and transforms into a business and if that idea blossoms then the business grows. When a business reaches a stage of soliciting stakeholders a strategic plan needs to be in place, part of that plan is developing a model for the business to operate under. Part of running a business is having a plan that will incorporate what the company’s mission, vision and code of conduct as well as ethics is. That code of ethics and conduct is what the company expects from their employees and what a company will do if those policies are violated (McNamara). A code of ethics is a guideline of expectations and the values the company holds important. When a company has employees that question if something is wrong or not then the code of ethics can be a useful guide but doubles as an orientation tool to show employees what the repercussions are of violating those rules. In today’s failing economy it is......

Words: 815 - Pages: 4

Ethics Paper

...Fahad Qureshi Ethics Paper MGT/498 Ethics in the most basic terms is what you feel for something that may be right or wrong conduct. Being socially responsible means that organizations must behave ethically and sensitivity towards environmental issues. Company uses ethics and social responsibility for developing strategic plan when considering stakeholder needs and agendas. Enron is one example when a company was overstepping ethical boundaries for stakeholder agendas. There are many preventative measures that are taken now. There are 10 things companies can take to avoid overstepping ethical boundaries. Companies should examine ethical climate. By seeing how their employees feel about the culture and environment by conducting formal assessment. Company should have a code of conduct or ethics code and have it printed, posted on bulletin boards. Company should build a robust ethics infrastructure. Writing a code of conduct and support it at the top level and communicate it to employees. Company should go public and become an ethical public offerings. Company should keep Auditing and consulting functions separate. Companies should talk to employees often regarding ethical company issues. Companies should build ethical conduct within the company by training the employees, providing support and guidance, measuring their success and reward employees. There should be an ethical committee that is focused on the seven provisions of the Federal Sentencing Guidelines. Finally......

Words: 325 - Pages: 2

Ethics Paper

...Ethics Essay Anthony Gonzalez ETH/316 2/23/15 Arthur Murphy Introduction Utilitarianism, deontological, and virtue theory ethics are three normative approaches to ethics. This paper will go over the similarities and differences between virtue theory, utilitarianism, and deontological principles. It will include information of the variations in how each concept details ethics, morality, and it will also discuss a personal experience to describe the correlation between virtue, values, and moral perceptions as they relate to one of the three theories. Similarities and Differences   Virtue theory emphasizes character traits rather than the rules or consequences while deontology is described as an action that is right only if it is in accordance with a moral rule or principle. Utilitarianism puts more emphasis on the consequences and that decisions should be made based on happiness for the greatest number of people. Virtue theory does not judge a person as good (or not) based upon one single action in their lives. Rather, it takes a look over time to judge ones character. Virtue theory also looks at past mistakes that are not normally in a person’s historical nature. For example, a virtuous person is someone who is kind across many situations over a lifetime because that is their character and not because they want to maximize utility or gain favors or simply do their duty ("Virtue," 2010).Utilitarianism usually relies on predicting the consequences of an action.......

Words: 733 - Pages: 3

Ethics Paper

...Ethics Paper Lisa Henderson MGT 498 Strategic Management July 20, 2011 Joyce Cusack Ethics Paper The role of ethics and social responsibility plays a critical part in today’s society. When speaking on the role of ethics in the corporate world we all have seen a few companies that have really disregarded ethics to which it has caused a trickle down destructive effect on the organization. One may try to figure out why such corporate professional, hardworking, and savvy men and women act so unethically. We all know that running a business requires a great deal of ethics and without ethics a business may fail before it really gets off the ground. Social Responsibility sometimes can become a thorn in a business because of the way the consumer or society feels about how that business deals with social responsibility. This can go either way where a the consumer may feel as though the organization should make the responsible decision and on the other hand the organization feels as though it is not their responsibility it is the responsibility of the consumer. This is and has been a battle that goes back and forth for a long time and to current today it still goes back and forth between the consumer, the courts, and the organization. Business ethics can be defined as a form of professional or applied ethics that looks at ethical morale, principles, and problems that may come about in a business environment. Here are just a few expert opinions on ethics and social......

Words: 1520 - Pages: 7

Ethic Paper

...Ethics Paper Ethics Paper Financial Management is one important part of health care financial planning. Many financial decisions are made on a day to day basis from all the accounting records and all the business transactions which occur. Some are the decisions made according to the organizations fiscal objectives although some are made on generally accepted accounting principles). So the question I would ask is this “How good is the financial management of our health care organizations and do they hold a good financial reporting records”? GAAP The generally accepted accounting principles (GAAP) are considered as the framework of guidelines for the financial accounting and jurisdiction of all accounting standards. With these accounting standards the GAAP includes such things like standards, conventions and the rules the organization accountant follows when during a copy and summarizing all the transactions when doing the work on preparing the financial statements. All third parties that are involved with the reports must then rely on the information to be free from all bias and inconsistency without debate or not so GAAP standards are followed. All business states that, “generally accepted accounting principles are guidelines precisely, are a group objectives and conventions that have been......

Words: 859 - Pages: 4

Ethics Paper

...Ethics Paper Regina Zamora-Chilin MGT/498 November 20, 2011 Professor: Dr. Earl Levith Ethics Ethics as will be described in this paper pertains to the social responsibility that any business must possess at the time of developing a strategic plan while considering stakeholder needs and agendas. This paper will discuss the Real Estate sector of the United States’ economy as well as a well known company called Enron, and its questionable overstep into unethical practices on various levels that brought forth government interference. For Enron, it is through the Sarbanes-Oxley Act (SOX) that all businesses are measured to prevent and avoid unethical situations from taking place. The Role of Ethics The role of ethics and social responsibility has increased tremendously over the past decade for the majority of corporations. In the past, corporations have probably not paid enough attention to doing what is socially responsible because there were no strict government guidelines to follow. Even though the United States is a rule-based country, corporations have in past years managed to mishandle corporate standards. Ethics and social responsibility forces corporate employees at senior levels to stop and examine their activities in an effort to reduce violating the law. If executives are able to identify unethical practices then they will do ‘the right to set preventive measures or disciplinary actions to employees who are not in compliance with the corporation’s......

Words: 945 - Pages: 4

Ethics Paper

...Ethics Assignment By: Melissa Foerster Date: February 1, 2016 In today’s business world, several companies are heavily embracing the idea of business ethics in the workplace and corporate social responsibility. Companies need to demonstrate ethical behaviours, morals and activities expected of a business by society when there is not an identified law in place. Many corporations in North America have adopted what is called a “Code of Ethics”. This is a document that is developed by the organization covering ethical values, principles and policies that are to be followed within the organization. This code may contain policies such as; not working with suppliers who deal in child labor, not taking bribes, not discriminating in hiring employees. A corporation with ethical values build a trusting relationship among their employees, investors, customers and community, building these relationships are crucial in developing businesses. Ethics do belong in business, it shows a corporation’s values and principles, it allows their employees, investors, customers and community know they can be trusted. There are still corporations today that will “cut corners”, “turn a blind eye”. Sometimes doing things the wrong way, is easier than doing things the right way. Let’s take a look at several examples of how companies are being unethical and ethical in their everyday operations. Heinz-Ketchup maintains 54 percent of the U.S. ketchup market, they found out that 9 out of 10......

Words: 1276 - Pages: 6

Ethics Paper

...People often ask questions like, “what should I do?” or “How should I act?” However, the fundamental questions that define ethics allow individuals to evaluate the moral principles behind the rationalization of their actions. Three forms of ethics come to mind and they are virtue theory, utilitarianism, and deontological ethics. Each has differences, which distinguish one from the other, a point this paper will advocate to readers. In addition, this paper explains and addresses each theory in conjunction to ethics and morality, in addition to the relationship between virtue, values, and moral concepts as they relate to each theory. Virtue Theory One of the principles reading into the virtue theory is excellence. Virtue theorizes that when living life, it aims to excelling in everything an individual does. When judging based on this theory, an individual bases their judgment on the exceedingly excellence of others actions. Boylan, 2009 states, “It takes the viewpoint that living your life you should try to cultivate excellence in all that you do and all that others do” (p. 133). In other words, virtue ethics aligns to the absolute good and emphasizes rationalization on the results of their actions that is likely to bring absolute good (Boylan, 2009, p. 62). A virtue theorist may ask what traits and dispositions enable them to act in a way that develops this potential. The answer is attitudes and dispositions that define an individual’s character that consist of......

Words: 920 - Pages: 4

76 Filmes HERÓIS | Querlenker Satz Audi A4 B5 A6 C5 Vw Passat 3B 3Bg + Kombi 14-Tlg | IMDb: 5 HD Pocketman and Cargoboy