Ethical Practices in the Business World

Paper Summary:

This paper discusses how ethical issues in the business world have changed since the demise of companies such as Enron, WorldCom, and Arthur Andersen. According to this paper, several different approaches have been suggested for businesses today to cope with the issue of ethics and for corporations to develop ethical guidelines.

Outline:
Introduction
Ethical Issues
Ethical Grounding
Leadership
Conclusion

From the Paper:

"The issue needs to be considered from the smallest infraction to the major ones. The latter, of course, are what get a company into trouble, while the former often lead to the latter. However, business people seem to have a number of rationales for why certain behaviors that might be unethical in everyday life are not in business. Carr (1993) argues that there is an agreement among people in business that bluffing is accepted and that, in the words of British statesman Henry Taylor, "falsehood ceases to be falsehood when it is understood on all sides that the truth is not expected to be spoken" (Carr, 1993, p. 143). Carr argues that bluffing is not unethical in this context. It is not lying because while both bluffing and lying would be meant to deceive bluffing in business is accepted as part of the price of doing business and so cannot be considered lying."

Sample of Sources Used:

• Cascini, K. & Vanasco, R.R. (1992). FCPA: The American Antibribery Legislation. Managerial Auditing Journal, 24 29.
• Carroll, A.B. (1979). A Three dimensional Conceptual Model of Corporate Performance. Academy of Management Review 4, 497 505.
• Coping with the Ups and Downs (1996, April 27). The Economist, 3-5
• Crane, F.G. (2004). The teaching of business ethics: an imperative at business schools. Journal of Education for Business. Retrieved October 23, 2007 from http://www.highbeam.com/library/doc3.asp?DOCID=1G1:115495783&num=2&ctrlInfo=Round15%3AProd%3ASR%3AResult&ao=&FreePremium=BOTH
• Doig, M. (1999, November 1). The Business of Sustainability. Sustainability Review 5, retrieved October 23, 2007 from http://www.eeeee.net/sd06000.htm.

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