Fundamental Rules of Ethics and Business Law

Abandoned minors are no longer protected from liability on their contracts, merchants are still reluctant to deal with them on a credit basis, fearing that they may still attempt to disaffirm, or

Luke, an ABC employee, is currently working on a land development project consisting of building an adult entertainment store in a neighborhood where Luke’s brother, Owen, lives. Luke knows that Owen has been considering selling his home but that he is putting it off expecting the real estate market to improve in a few years, yet Luke knows that the project will cause the opposite effect.

Peter Crist is almost always correct. The reality is that if someone lies or covers stuff up, most of the time they will be found out eventually be it in two days or in 20 years. However, the reality is that some people do lie and cover stuff up in professional and personal situations and are never exposed. Sometimes this is because they're in a situation where dishonesty is prized, other times it's because the people around them turn a blind eye to what they see because they don't want to know the truth. Other times, it's because the person engaging in the dishonesty is so crafty and so quick that the trickery and subterfuge is almost inscrutable. However, the fact remains that Crist is correct. Often people are found out because those who are engaging in the trickery have so much hubris and so much arrogance that they engage in bolder and bolder moves, believing that they will never be caught. One example of that from the recent past is of Bernie Madoff. His crime was a simple Ponzi scheme which grew larger and larger in size and scale to the point where he couldn't help but be found out. In this case, the fact that Ms. Jones was found out was somewhat expected: she advanced to such a position of power within the institution that she was almost one of their public figures, which meant that her credentials would be under greater scrutiny.

Facts: A motorcycle accident occurred in California where a husband was severely injured and the wife was killed. The plaintiffs in the lower court raised a product liability claim against the tire manufacturer, alleging the cause of the accident resulted from a sudden tire explosion. The suit was filed in California, but the manufacturer defendant did not conduct business in that state. This case hinged on jurisdictional issues.

Business ethics refers to the consideration of moral decisions and responsibilities in the process of operating a business. Business ethics, practiced throughout the deepest layers of a company, become the heart and soul of the company 's culture and can mean the difference between success and failure. Values drive behavior and therefore need to be consciously stated, but they also need to be affirmed by actions. Ethical business environments are created with foundations of integrity, accountability and commitment.

The work of setting a positive ethical climate starts at the top of the organization as positive ethical attitudes filter down to employees. Ferrell et al. (2015) states, “the more employees perceive an organization’s ethical culture to be the less likely they are to make unethical decisions” (p.134). Business ethics is not only about knowing what is right and wrong, or doing the right thing, ethics involves acting with responsibility, being objective when making decisions, putting honesty in all relationships, and maintaining employees’ fairness. According to Hughes, Ginnet, and Curpy (2012), “conflict over values can arise even when an organization has clearly published values because leaders and employees have divergent perceptions of whether the leader’s behavior embodies important corporate values” (p.177). Unfortunately, GM’s ethical organizational culture has been seriously disconnected from the policies stated in their company. In the past GM’s culture has favored cover-up over openness and legal contemplation over customer safety. The values embedded in GM’s organization were not put into practice. Product defects were concealed from top management as well as the public, not only hurting General Motor’s reputation as a quality customer driven culture, but also the owners of GM vehicles who were injured or died. A culture of secrecy seemed ingrained at General Motors, which can be blamed on former CEO leaders, the organizations structure, and organizational

Having an ethical business is very important, especially in today’s society. Even though a business may seem to be ethical, if any part of the business does not adhere to ethically business practices, it can cause major issues for a company. This happened to Microsoft when it was confronted for violating several antitrust laws. The concern was that Microsoft was creating a monopoly, particularly within in the internet browser industry. The result was that Microsoft was sued for unethical business practices. Today ethics are an integral to the standards Microsoft sets for their employees as stated in a letter from Microsoft’s Chief Executive Officer Satya Nedalla. In his letter to employees Satya states: “Trust is paramount in how we operate and conduct business with individuals, companies and governments. We build and maintain trust through our shared commitment to ethical behavior and by acting with honesty and integrity.” (Nadella, 2016). In this paper we will look at the events that leading up to the law suit again Microsoft.

Business ethics is described by studying how terms are associated with ethics used in relation to business. So business ethics invites us to think about what right and wrong consist of in relation to business activity; about the goodness and badness of specific business situations; about the rights, responsibilities, obligations and duties that ought to govern business relationships; about what a fair distribution of the benefits and burdens of business activity might involve; and about what constitutes a virtuous business or a virtuous business person (Fryer, 2015).

The word ‘ethics’ has its origin in the Greek word ‘ethics’ meaning character; norms, ideals or morals prevailing in a group or society. Ethics is concerned with what is right and what is wrong in human behavior judged on the basis of a standard form of conduct/behavior of individuals, as approved by society in a particular field of activity. Ethics may be viewed as the entire body of moral values that society attaches to the actions of human beings. Ethics can also refer to codes or other system for controlling means so that they serve human ends. Ethical standards are often enacted into laws. But ethical behavior is just and fair conduct which goes beyond observing laws and government regulations. It means adhering to moral principles, being guided by particular values, and Behaving in a way people ought to act. The set of principles called ethics may

Business Ethics (also business ethics) is a form of applied ethics or ethical scrutiny appeared in a commercial environment ethical principles and moral or ethical issues. It applies to all aspects of business conduct for the individuals concerned and the behavior of the entire organization.

International Paper Named To 2013 World's Most Ethical Company List For Seventh Straight Year By The Ethisphere Institute

In conclusion, in our opinion, there are so many standards and criteria to judge whether a consultants’ behavior is ethical and permissible, and code of conduct can hardly be the only criterion since it is too general to cover every aspect in the real business world. Traditionally, code of conduct is an essential way to prevent unethical behaviors in consulting industry, and we can see in the aforementioned case that it did help the consultants to develop the sense of responsibilities and be aware of what they need to do in their work. However, based on some literature, we found out that although the adoption rate of code of conduct is overwhelming, the issue that whether or not code of conduct can significantly improve business ethics has

Business ethics is where moral rules help guide business decision making. It is useful in a business as it helps them decide if a decision is right or wrong, honest and fair, even if the business is profitable or not. An ethical business decision may not always be the most profitable decision as the one that has the most benefit to the society could be at the top. (Connolly, 2011)

Organizations in the market are expected by the authorities and the public to behave ethically in the manner in which they undertake their activities. Acting responsibly and ethically means operating in a way that every stakeholder to the organization is content "Stakeholders are those individuals who are impacted by a company's operations. Based on the moral standards of trustworthiness, respect, responsibility, and caring, companies would appear to be required to address their obligations to their stakeholders" (Schwartz, 2002, p.30). Therefore, this means being consistent in actions that individuals and the society think are typically good values. Actually, this could go beyond the normal obligations toward the stakeholders like wages and reduce prices. So, businesses are considered to observe ethical behavior when they demonstrate the essential moral values at their workstations that include fairness, equality, honesty, dignity, and

(b)Write out the one page (up to 500 words) definition of what is Ethics and what is Morality on the first page. You will need to include in your definition also Sacred Texts, Sacred People, the Ethic itself and Human Reasoning. (We will refer to this in class).