Business_Ethics

Running Head: MANAGING BUSINESS ETHICS Managing Business Ethics in Today’s Economy Joe August University of Phoenix Managing Business Ethics in Today’s Economy All businesses use ethics, whether correct or not, as a guideline to how the company is most often ran. Ethics, defined simply as “a set of moral principles or values” (Trevino & Nelson, 2007, chp 1), is a simple definition but also very controversial because every individual has their own set of beliefs. A few issues this can cause in the workplace can be different forms of discrimination, conflicts of interest, and using company resources in ways other than intended. Employees are challenged on a daily basis to uphold their own and their company’s code of ethics. Different forms of discrimination whether they are related to race, gender, or age, are found in all businesses and are all frowned upon ethically and can also lead to legal trouble. Discrimination means “treating people unequally because they are, or appear to be, different” (Trevino & Nelson, 2007, chp 2). Discrimination challenges the values of fairness in the workplace and is telling individuals that they are wrong for being themselves. Not only do these open many doors for lawsuits, but also set a low reputation and standard for any company and its employees. All employees are treated equally, no matter how high up the corporate ladder they may be. Conflicts of interests are another ethical issue and occur more often than one might think in all work environments. Along with fairness in an organization, trust is also very important and most often considered as one of the main values to any company and its management team. While some individuals pride themselves on following the company code of ethics, others can’t resist the temptation of the rewards they receive for going against a set of values and morals. Conflicts of interest can be as small as receiving small kickbacks on products or as large as Bernard Madoff and his Ponzi scheme which affected the lives of thousands. “Madoff also said his business was insolvent, and that it had been for years, estimating losses to be at least $50 billion” (Barr, 2008, para. 12). Whenever faced with a conflict of interest, it is wise to think of not only the consequences, but also everyone else involved and affected negatively because of it. Using company resources is yet another example of using good values with honesty and trust. “The use of corporate resources involves your fulfilling your end of the employer/employee contract. It means being truthful with your employer and management and being responsible in the use of corporate resources, including its finances and reputation.” (Trevino & Nelson, 2007, chp 2). Whether it is adding a few more miles to your expense report or charging expensive meals and outings to a company credit card that are not business related, it is stealing, and an example of improperly using company resources. Although it might seem like pennies compared to what the company is worth, it is morally incorrect, and in time will affect the company in a negative manner. Ethical issues come about everyday in all organizations worldwide. At times it can be very tempting for individuals to fall short of their own beliefs and those of their companies. It remains important for everyone to challenge them self to remain loyal to their principles and values, and in turn it will affect them and everything around them in a positive and constructive manner. REFERENCES Trevino, Linda K., & Nelson, Katherine A. (2007). Managing Business Ethics. Straight Talk About How To Do It Right (4th ed.). Barr, Alistar. (2008, December 11). Madoff arrested in alleged Ponzi scheme. Message posted to http://www.marketwatch.com/story/madoff-arrested-charged-may-be-facing-50-bln-in-losses-fbi