Business Ethics

Business Ethics

Business ethics is an ever growing issue in today’s fast-paced globalized world. As businesses try to compete in the global economy, companies face enormous pressures to get ahead and improve their bottom line as well as to avoid making decisions that can have negative consequences down the road that will inhibit future success.

Prior to taking this class, I thought that ethics was simply a black or white issue and meant ‘doing the right thing’, follow the golden rule, and do unto others as you would have them do unto you. There were many issues that I observed globally as well as professionally in my own job, that I was quick to judge as either ‘good’ or ‘bad’. This class has caused me to take a deeper look at those things and realize that there is absolutely more than one way to look at each situation. There is also almost always a good argument for each side.

One of the first lessons that impacted me was the employer-employee relationship. I knew all about the duties of the employer such as to providing a fair wage, and a safe, hassle-free work environment. The thing that I hadn’t given a lot of thought to however was the extent of the obligations of the employee to the employer. It has always been obvious to me that a ‘good’ employee should be loyal, respectful, honest in reporting practices, and not steal office supplies. Those were a given. I also understood implications regarding conflicts of interest, and honesty in time keeping . What really struck a chord with me was the extent to which employees have an ethical obligation to their employers.

The employee who would resign to avoid unethical conduct must also consider the duties of

employees. Arguably, employment is indistinguishable from any other sort of work-for-hire unless

it implies some degree of commitment, albeit both employers and employees often renege on their

commitments. One can ask whether a company should immediately fire an employee who behaves

unethically, or whether it should try to correct the behavior and give the employee a second

chance. One can also ask the same question of the employee

In order to survive, companies have to make tough choices in order to survive

It takes a lot of work to achieve ethical operations and a lot of sacrifices on the company's part.

I have realized how crucial ethics is to the corporate world

These issues are not distant, they are being faced everyday by thousands of people around the world. Globalization combined with the speed and connectivity of the world today have created a situation where tons of decisions have to be made at an ever increasing rate. These decisions and