The Nature of Morality.
List of Ethical Issues in Business by Fraser Sherman - Updated November 08, Even in the 21st century, businesses are run by people, not computers. Being people, they face ethical challenges and sometimes flunk them. The ethical issues in business take different shapes than in schools or the home, even though they stem from the same impulses.
It takes effort to keep a company ethical, but it's worth it. Going to the dark side can destroy a firm's reputation, and even lead to lawsuits or criminal charges.
Ethical Challenges and Cash Most business owners see themselves as honest people. When money gets tight, however, it can trigger lots of ethical problems in business.
Do you cheat on environmental or safety compliance to keep the lights on? Do you pay your workers late or hold off paying vendors?
Do you let some bills go unpaid because your cash flow is low? Even a business that doesn't engage in wage theft or fraudulent accounting may skate along the thin edge of ethics at times. Harassment and Discrimination Sexism and bigotry can crop up anywhere.
In the working world, they're particularly toxic because of the power some employees have over others. Harassment not only makes employees miserable, it can affect their pay and their career. Movie mogul Harvey Weinstein, for example, has been accused of harassing and assaulting dozens of women.
Women who resisted say Weinstein worked to blacklist them and ruin their careers. If harassment and discrimination happen, that produces added ethical challenges: Companies such as Fox News and MGM have "solved" harassment problems by covering them up or discrediting the victim. Seems they'd sooner protect the corporate image or its high-ranking employees than do the right thing.
Video of the Day Brought to you by Techwalla Brought to you by Techwalla Playing Favorites It's perfectly normal for managers to hire people from their social network. It becomes an ethical issue if the social connection becomes more important than actual ability.
Nepotism— hiring a relative — and favoritism are despised because they tell other workers that job performance is less important than blood, or being buddies with upper management.
Even if the choice is a good one, it can alienate workers and raise doubts about the manager's decisions.
Protecting Client Privacy It seems every week another company announces that customers' confidential data has been exposed or hacked. Sometimes it can't be helped: Other hacks are preventable and only happen because of corporate negligence.
For example, some security experts told Wired magazine in that Equifax could probably have prevented its massive data breach with better security.
If companies are negligent about security it becomes an ethical issue. It's also an ethical issue if they don't notify customers promptly. Equifax waited two months after learning of the breach.Jun 27, · Disparate industries across the United States face many of the same ethical dilemmas.
These ethical issues cover a variety of issues such as employee pay rates and discouraging harassment in the. In other words, Just like ethical absolutism, deontology is a code of ethics that is based upon good and bad, right and wrong (Constantin, E., ).
Ethical absolutism and deontology keep the lines of %(7). There are many problems in the environments of the organizations that make up our business world today. Many of these problems are deep moral and ethical dilemmas that plague most every organization and every business person will be confronted with at some point during their business career.
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Some of the major ethical issues that the business world faces today are harassment in the workplace, not paying employees equally, bad practices in accounting, and business criticism[Jon].
“In , Martha Stewart was found guilty on four counts of making false statements and obstruction of justice regarding a controversial sale of ImClone %(8). Common workplace ethical issues include harassment and stealing credit for the work of others.
While the two issues are very different, both threaten to harm the employer. Workplace harassment includes mental, physical and sexual harassment.