Ethics in Business Management Term Paper by scribbler

Ethics in Business Management
A discussion on the importance of ethics in business management today.
# 153211 | 1,681 words | 5 sources | APA | 2013 | US
Published on May 07, 2013 in Business (Management) , Ethics (General) , Accounting (Fraud)


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Description:

The paper looks at the definition of business ethics and notes the critical need for business ethics in the corporate world of today. The paper discusses the twelve ethical principles that serve as the basis of ethical decision-making and looks at the four pillars of corporate governance. The paper suggests the key roles and responsibilities in ethics management and looks at the infamous corporate frauds of Enron and Fanny Mae that serve to illustrate the need for a stronger ethical base in organizations.

Outline:
Abstract
Ethics in Business and What It Requires
The Need for Ethics in Management Today
Infamous Corporate Frauds

From the Paper:

"The dictionary refers ethics as standards of conduct or moral behavior (Cengage, 2005). It means determining what is right or wrong and then choosing to do the right things (McNamara, 2011). But ethical dilemmas in the workplace is not a neat matter of perceiving is something should or should not be done, whether something is justified or not and why. Many ethicists, however, insist that there is always a right choice to make, based on moral principle. Others believe that the choice is situational and, ultimately, depends on individual perception (McNamara). Experience shows that companies benefit from good reputation rather from a bad one (Cengage, 2005). Reputation, in turn, reflects the extent in which a firm and its people conduct themselves ethically. Business ethics consists of a company's attitude and conduct towards its employees, customers, community and stockholders. High ethical standards require that a firm deals with all stakeholders fairly and honestly. These standards and commitment to them can be measures by the tendency of the entire organization to unconditionally observe laws, regulations and moral standards. These standards pertain to product safety and quality or honest and thorough service, fair employment practices, marketing and selling practices, the use of confidential information, community involvement and payments to obtain business (Cengage)."

Sample of Sources Used:

  • Cengage (2005). Introduction to financial management. Part I, Cengage Learning.Retrieved on March 6, 2011 from http://academic.cengage.com/resource_uploads/downloads0324319835_632029.pdf
  • Crauford, N. (2007). Ethics: the four pillars of governance. New Zealand Management: Profile Publishing Ltd. Retrieved on March 6, 2011 from http://findarticles.com/p/articles/mi_qn5305/is_20071101/ai_n24915788
  • McNamara, C. (2011). Business ethics and social responsibility. Authority Consulting LLC: Free Management Library. Retrieved on March 6, 2001 fromhttp://managementhelp.org/ethics/ethics.htm
  • ----------------- -------. Complete guide to ethics management: an ethics toolkit formanagers. http://managementhelp.org/ethics/ethxgde.htm
  • Urban Grind, The (2011). Fannie Mae vs Enron, World.com and Tyco. The Urban Grind. Net: Word Press. :Retrieved on March 6, 2011 fromhttp://www.theurbangrind.net/?p=3120

Cite this Term Paper:

APA Format

Ethics in Business Management (2013, May 07) Retrieved July 18, 2019, from https://www.academon.com/term-paper/ethics-in-business-management-153211/

MLA Format

"Ethics in Business Management" 07 May 2013. Web. 18 July. 2019. <https://www.academon.com/term-paper/ethics-in-business-management-153211/>

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