These ethical issues cover a variety of issues such as employee pay rates and discouraging harassment in the workplace. Companies choosing to confront these ethical dilemmas may earn the praise or ire of consumers depending on the policies these companies adopt. Accounting Practice Ethics In the wake of corporate scandals involving unethical accounting practices from publicly traded companies, including Enron and Tyco, many consumers are justifiably distrustful of investing in businesses. The federal government responded with the Sarbanes-Oxley Act in to mandate new financial reporting requirements to protect consumers, though with 90 demonstrators arrested during the "Occupy Wall Street" protest init would seem to indicate distrust and anger still persists.
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. 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? Harassment and Discrimination Sexism and bigotry can crop up anywhere.
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. 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.
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. Equifax waited two months after learning of the breach. Keeping Employees Safe Thousands of people die every day from work-related accidents. Some of those accidents are due to negligent with employers ignoring the legal requirements for keeping the workplace safe.
Common problems include not using guards on sharp cutting equipment, and not taking steps to prevent falls or electrical accidents.We believe that the rising numbers of dismissals for ethical lapses in the U.S.
and Canada and Western Europe stem from the fact that the changes in the business environment we’ve cited — in public opinion, governance and regulation, operating risk, digital communications, and media attention — are most pronounced in those regions.
Feb 11, · Lina Iris Viktor alleges that the music video for “All the Stars” from the soundtrack to the Marvel film used her “Constellations” series of paintings without permission.
The euro is under pressure and has fallen by around percent over the past few months. In , the euro was able to defy the headwind caused by the yield spread and stand strong to the USA because of a surprisingly healthy economic development.
By Paulina Golinska & Carlos Andres Romano. Supply chain management and the environment. For years the producers’ responsibilities were finished when the product was on the shelves in the shop or when the guarantee period was over.
Ethical Issues in Business. In the past, various companies only thought that ethical issues in business are only a term used to define administrative rules and regulations that everyone must adhere or a standard that must be followed. Jun 29, · About the Author. Kelsey Casselbury is an independent writer, editor, and designer based in Annapolis, Md.
She left a full-time communications job in to start her own business.