Ethics in Business

Paper Summary:

The paper relates that the ethical decisions that are faced in the business world are very similar to those faced by individual people on a daily basis, involving responsibility, fairness and honesty. The paper discusses what ethics are not and explains that the main responsibility of the government is to provide the most good while doing the least harm, producing the greatest balance of good maintaining equality and fairness. The Occupational Safety and Health Act (OSHA), the Fair Labor Standards Act (FLSA), and the Family and Medical Leave Act (FMLA) that are each intended to protect workers are also outlined.

Outline:
Business Ethics Overview
What Ethics Are Not
Requirements of the Government
Major Laws that Affect Decision-Making
Conclusion
Summary

From the Paper:

"The federal government plays a critical role in the requirements of businesses and their codes of conduct. Business ethics consists of the methods pertaining to how activities are carried out while simultaneously respecting the individual rights of employees and society as a whole. The United States, among many other countries, has certain laws that have been enacted as a means of enforcing these standards for company-, consumer-, employee-, and even investor-interaction. One of the most common laws, for instance, is the restrictions on advertisement. Businesses must refrain from using deceptive practices falsely depicting their goods or services. Another common law relates to investor relations--most governments require corporations to provide accurate and complete financial information."

Sample of Sources Used:

• "Business ethics." (Aug 30, 2007). Retrieved October 23, 2007, from How Stuff Works Web site: http://reference.howstuffworks.com/business-ethics-encyclopedia.htm
• DOL. (2007a). The Fair Labor Standards Act (FLSA). Retrieved October 23, 2007, from United States Department of Labor Web site: http://www.dol.gov/compliance/laws/comp-flsa.htm
• DOL. (2007b). The Family and Medical Leave Act (FMLA). Retrieved October 23, 2007, from United States Department of Labor Web site: http://www.dol.gov/compliance/laws/comp-fmla.htm
• DOL. (2007c). Whistleblower protections. Retrieved October 23, 2007, from United States Department of Labor Web site: http://www.dol.gov/compliance/laws/comp-whistleblower.htm
• Velasquez, M., Moberg, D., Meyer, M. J., Shanks, T., McLean, M. R., & DeCosse, D. (1988). A framework for thinking ethically. 1(2

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