Business Ethics
By definition, business ethics refers to the standards for morally right and wrong conduct in business. Law partially defines conduct, but “legal” and “ethical” aren’t necessarily the same. Business ethics enhance the law by outlining acceptable behaviors beyond government control.
Ethical conduct in business has become a critical component of a business’ overall infrastructure. In fact, publicly traded companies are required to have a Code of Business Conduct and Ethics. The purpose of a Code of Business Conduct and Ethics is to deter wrongdoing and to promote, among other things, honest and ethical conduct and to ensure to the greatest possible extent that the Company’s business is conducted in a consistently legal and ethical manner (sec.gov). It is intended to hold employees and executive leadership accountable for conducting business in an ethical manner.
There are times that ethical standards are breached in the workplace. In some instances, this would result in disciplinary action or termination of the offender. However, in some more serious instances, those breaches can cross the line resulting in legal issues, both of a criminal and/or civil nature.
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Discussion Topic
Discussion Topic:
Research a recent business case or incident in which an ethical dilemma was centric to the case or incident; you might look on the Internet or daily news. You might even find a case on the television news! Please be sure to cite your source in APA format.
In your original post, answer the following:
Briefly describe the case or incident you found. Determine if the case falls under civil or criminal law and explain why.
Describe the ethical dilemma that occurred.
What could the individual involved have done differently to demonstrate good business ethics?
What could the company have done to minimize its exposure to such a situation?
Confirm the outcome of the case.
- If the case has not been decided, tell us what you think will happen and why.
- What sort of punishment or compensation is there or should there be?
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