Business Ethics report

Business Ethics report - BUSINESS ETHICS Ethical Business...

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BUSINESS ETHICS Ethical Business Behavior ....................................................................................................................... 2 Example: Microsof ...................................................................................................................................... 2 Why companies engage in this kind of behavior? ........................................................................................ 2 The position or level within the organization where this behavior is committed ....................................... 3 Any potential victims or benefactors ........................................................................................................... 3 Unethical Business Behavior .................................................................................................................. 3 Example: Wells Fargo ................................................................................................................................... 3 Why companies engage in this kind of behavior? ........................................................................................ 4 The position or level within the organization where this behavior is committed ........................................ 4 Any potential victims or benefactors ........................................................................................................... 4
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Business ethics (also known as corporate ethics) is a form of applied ethics or professional ethics that examines ethical principles and moral or ethical problems that arise in a business environment. It is the study of proper business policies and practices regarding potentially controversial issues, such as corporate governance, insider trading, bribery, discrimination, corporate social responsibility and fiduciary responsibilities. Law often guides business ethics, while other times business ethics provide a basic framework that businesses may choose to follow to gain public acceptance. The concept of business ethics arose in the 1960s as companies became more aware of a rising consumer-based society that showed concerns regarding the environment, social causes and corporate responsibility. Business ethics goes beyond just a moral code of right and wrong; it attempts to reconcile what companies must do legally versus maintaining a competitive advantage over other businesses. 1 ETHICAL BUSINESS BEHAVIOR 1.1 EXAMPLE: MICROSOFT Given the fact that it was started by Bill Gates, one of America's most generous philanthropists, it follows that Microsoft would do well in following his example. The tech
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