Current Articles On Business Ethics – Business ethics can be a difficult challenge for any business owner. Although laws exist to hold employees and employers accountable, these alone do not completely prevent employees from engaging in unethical behavior.
Business ethics issues cover a wide range of organizational ethical standards. Basic issues of business ethics include promoting honesty and trust-based behavior, but more complex issues include managing diversity, empathic decision-making, compliance and governance consistent with the organization’s core values. According to the 2019 Global Business Ethics Survey, 25% of employees still believe that senior managers do not have a good understanding of the key business risks of ethics and compliance across the organization.
Current Articles On Business Ethics
In order to manage business ethics issues in an organization, one must first have a good understanding of what these issues might be. Understanding how to spot and, most importantly, stop these issues before they become problems will help you focus on business growth and success instead of fixing them.
New Articles For Business Company Free Essay Example
Harassment and discrimination are some of the biggest ethical issues affecting businesses today. If harassment or discrimination occurs in the workplace, the results can be financially and reputationally devastating for your organization.
Every business should be aware of anti-discrimination laws to protect its employees from unfair treatment. The U.S. Equal Employment Opportunity Commission (EEOC) identifies a variety of discrimination and harassment laws that may affect your organization, including:
Workers have the right to work in safe working conditions, according to regulations established by the Occupational Safety and Health Administration (OSHA). According to their 2018 study, 5,250 workers in the United States died as a result of occupational or work-related accidents. On average, more than 100 people die a week, or more than 14 people die every day. Here are the top 10 most reported breaches in 2018:
However, health and safety concerns should not be limited to physical harm. A 2019 report by the International Labor Organization (ILO) highlighted the rise of “psychosocial risks” and work-related stress and mental health issues. Job insecurity, high demands, effort, reward imbalance, and autonomy have been found to be associated with risk for health-related behaviors such as sedentary lifestyles, increased alcohol and tobacco use, and eating disorders.
Good Ethics Are Good Business
The pervasive nature of social media can affect employees’ online activities and their employment status. The ethical issue of firing or punishing employees for their online posts is complicated. However, the line is often drawn when an employee’s online behavior is considered disloyal to their employer. This means that a Facebook post complaining about a job won’t be penalized on its own, but doing something to reduce business can be penalized.
Similarly, businesses should respect and not penalize employees who are found to have reported whistleblowers to regulatory bodies or social media. This means that employees should be encouraged, not penalized, to raise awareness of workplace violations online. For example, a Yelp employee posted on Medium, a blogging website, about the terrible working conditions at the online reviews company. He was later fired for violating Yelp’s terms of conduct. The uncertainty of his case, whether his post was justifiable or malicious or dishonest, highlights the importance of implementing clear social media policies within organizations. To avoid this risk of ambiguity, a company must define what online behavior constitutes a violation.
Any organization must follow sound accounting practices. “Cooking the books”, i.e. unethical accounting practices, is a serious problem for organizations, especially public companies.
In 2001, the scandal involving the American oil giant Enron involved misreporting of its financial statements for years, and the accounting firm Arthur Andersen signing off even when the reports were incorrect. The fraud affected shareholder value, and public shareholders lost more than $25 billion due to this ethical breach. Both companies eventually went out of business, and the accounting firm lost 85,000 jobs as a result of the firm’s closure, although only a fraction of its employees had worked with Enron.
Resolving Ethical Issues In Sales And Marketing
In response to this case and other major corporate scandals, the US federal government passed the Sarbanes-Oxley Act in 2002, which mandated new financial reporting requirements designed to protect consumers and shareholders. Even small private companies must keep accurate financial records in order to pay appropriate taxes, share profits with employees, or attract business partners and investments.
Many employers are at risk of current and former employees stealing information, including customer information used by organizations that compete directly with the company. When intellectual property is stolen or private customer information is illegally distributed, it is considered corporate espionage. Companies can enter into mandatory non-disclosure agreements with severe financial penalties for violations to deter these types of ethical violations.
Under the same umbrella as non-disclosure agreements, developments related to the security capabilities of technology pose privacy concerns for customers and employees. Employers are now able to monitor their employees’ activities on their computers and other company-issued devices, and while electronic surveillance is designed to ensure efficiency and productivity, it also comes close to violating privacy.
A 2019 survey by the American Management Association found that 66% of organizations monitor Internet access, 45% monitor content, keystrokes, and time spent on keyboards, and 43% store, track, and monitor computer files. employee email. Central to the ethical use of technological surveillance is transparency. According to the same survey, 84% of these companies say their employees are being monitored for computer activity. To prevent employee surveillance from becoming an ethical issue for your business, both employees and employers must be aware of the real benefits of monitoring and whether it is a beneficial way to develop their performance records.
Reasons Why Ethics Is Important In Accounting For Business
Avoiding business ethics issues always starts with top management. Providing clearly written policies and processes to ensure that these policies are recognized and followed will allow for transparency and ethical business practices.
There are several steps you can take every day to effectively detect and, more importantly, prevent business ethics issues from occurring in your organization. When making decisions, follow a strict code of ethics and ask your staff. Be aware of discrimination laws in your area. Be aware of the regulations affecting your industry and ensure that your organization complies with these regulations. Work with accountants to ensure transparency and honesty in financial reporting. Make sure that your organization and employees are always doing the right and ethical thing, stay in your company.
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Pdf) Ethical Climate And The Link Between Success And Ethical Behavior: An Empirical Investigation Of A Non Profit Organization
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