Ethics and Decision Making

Paper Summary:

This paper discusses the importance of ethics in business practice, specifically its need in order to maintain a company's reputation and image. The paper presents examples of problematic business issues and how they were solved by the businesses they affected. It then provides a code of ethics for organizations and discusses how organizations must keep to the code.

Table of Contents:
Introduction
Sarbanes-Oxley
Ethics
Code of Ethics
Role of the Organization

From the Paper:

"The benefits of having such a policy are that it also gives the employee and the organization as a whole a level of empowerment that it never had before. It acts as mentioned before like a checks and balance system and prevents poor decision making. For example if a company were to allow a certain employee prime vacation days just because the families of the mentioned employee and members of the board of directors are friends is unfair. Although this example was little over the top, situation like this would breed animosity and unrest. This is also true if a supplier was chosen that did not provide the best product or price but gave one of the higher level managers or even several employees season passes for a football team. Although this seems really fair to the employees it is not fair to all and will not help the company if they are passing on a product that would have been below their standards."

Sample of Sources Used:

• Stanley, T. (2006, May). The ethical manager. Supervision, 67(5), 10-12. Retrieved July 24, 2007, from Business Source Elite database http://search.ebscohost.com/login.aspx?direct=true&db=bsh&AN=20838147&site=ehost-live
• Eisenstodt, J. (2006, February). CODE and CONSCIENCE. (Cover story). Associations Now, Retrieved July 24, 2007, from Business Source Elite database http://search.ebscohost.com/login.aspx?direct=true&db=bsh&AN=19660661&site=ehost-live
• Tindall, L. (2002, August). Enhancing Ethical Behavior in a Business. Retrieved July 24, 2007 from http://www1.ficpa.org/FS_ficpa/PublicFiles/sections/busethics.pdf

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