Two main areas of public concern in the UK, executive pay and corporate tax avoidance. The first of these sometimes associated with high bonuses paid to managers who may be following a bad business ethics.
One example of this is related to mis-selling of financial products. Often, bank customers do not need insurance and other financial products sold to their inappropriate. However, some bank employees stand to lose a substantial part of their income if they fail to hit sales targets. The bonus system that encourages this maximization of profits goes all the way up to the top of the organization. I would suggest that it is the framework of incentives set by senior management that strengthens dishonest culture.
Another example of bad business ethics, the financial industry in the UK, is the way consumers are investing money in an ISA and pension funds face a minefield of hidden charges and thus are left seriously out of pocket because of the shady practices. There are all kinds of things that many fund managers charge for it are not included in the total price management fee that they advertise.
Other examples of poor business ethics
It is not just in the banking sector there are signs of inadequate business ethics; these are not uncommon across the industry and trade; whether they are seen in false advertising of poor product quality, long delays in settling bills, or under paying employees, often for the sake of maximizing profits. This includes government must cut corners to save money.
Business ethics and corporate employee
Quite a lot of us work for a company that expects to help it make more money by doing things that make us feel uncomfortable. Maybe you work in production and is obliged to produce shoddy or defective product. Or maybe you are a health worker asked about the work waiting-list numbers to avoid public criticism. Or action requested copy of toxins into the environment.
Sometimes individuals vary in how they judge what is unethical act, which one person can consider perfectly reasonable could be considered bad or dishonest by one. Business ethics is not always clear question.
Business ethics and the self-employed worker
It is much easier to make a judgment in the case of one-person company. Wilson Van Dusen shows this by contrasting two shoe repair man, both to make a living in his business. One has as its objective to make the most money. He cuts corners on materials and workmanship. He grinds out as many repairs as possible. The second is also concerned about profits, but he enjoys meeting customers, talking about shoes problem, and he enjoys his craft. The quality of its services encourages customers to return.
Another example concerns two men who own and run a clothing store. Out they do the same, to sell men’s suits. One quickly size up what customers want. This color is impressed or style. Let’s see – maybe this is what is wanted. Everyone is different and he enjoys finding and serve this will. He is pleased to see the clothes that he sold appear here and there around town. The clothes salesman pushes this or that touts it as a bargain. The sales profit is the end of his, not the customer’s needs. He serves only himself.
Business ethics and culture
So how do we judge the moral high individual to work in conjunction with the organization? Some would say that the institutions can not be blamed for what they do as they have a life of their own without fault.
Evaluation of business ethics organization
Is it clear to you that the aim of the company’s profit above the welfare of the client or profit through welfare client? Here are some more questions in mind:
Are there any civil or criminal law be broken
Are you in conflict with their profession’s code of ethical behavior.
Do you own employers violate corporate ethics strategy?
Are you going against the spirit rather than the letter of any of these rules? If the former then I would suggest this raises ethical questions for your consideration.
I suppose that it is often difficult to clearly answer these questions because the particular situation you may find yourself in is not always fall easily into the protocol. Such codes needs are expressed in more general abstract terms.
Business ethics and what is useful
Being useful to themselves would mean that their own physical and emotional, and other personal needs of people. For one, how can there be for the benefit of family man and community people unless they are fulfilled. Being helpful to the family and people will probably often mean to keep their work and thus a source of livelihood of the people at least appear in accordance with the norms of unethical employer. Being useful to community people, however, can involve blowing the whistle and warning off power to illegal or other serious misdemeanors.
How to balance these three types of usability can be a difficult matter of careful judgment required a good deal of thought. I would say that the attitude to money should not be the deciding factor.