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unethical business practices pdf

All business people aim at gaining a competitive advantage over their competitors to win the trust of many customers. They evade the expenses that are associated with the treatment of toxics before they are released into the environment. justify particular practices or rules within the world of business. SEE ALSO: The Best Books for Anyone Starting a Business. READ PAPER. Wal-Mart was a victim of unfair business practices in the recent past. Whether it is covering for someone who shows up late or altering a time sheet, misusing company time tops the list. George, J.M. Therefore, the first step in this process is to recognize these unethical practices as we have done. Keep in mind that unethical actions are not always illegal, but they will hurt society. In the GlaxoSmithKline case, the company promoted its unapproved antidepressants for human consumption (Thomas & Schmidt, 2012). Financial Times. Prev 1 of 11 Next. ... Loewenstein and Moore 2005) described how auditors are often blind to clients’ internal changes in accounting practices, but only if the changes appear gradually. Unfair Competition. that business is inherently bad), or that it is, at best, amoral (i.e. Some companies are used to offering the intermediaries with kickbacks so that they can continue purchasing their products. The unethical practices in businesses are adversely affecting governments through the loss of taxes (George & Jones, 2010). They should ensure that the investors obtain their dividends in time. Upper Saddle River, NJ: Prentice Hall. Business professionals have responsibilities to make decisions based upon ethical principles. As if that is not enough, some companies go ahead to produce low quality or unsafe products. Managing unethical behavior in organizations: The need for a behavioral business ethics approach - Volume 23 Issue 3. Further, the company distorted the data of a diabetic drug that recorded very high sales, and it marketed other drugs improperly. Moreover, company managers should understand that the government depends on taxes to develop the nations. The court can order the suspension of the company’s activities for a considerably long period. This sad incidence clearly indicates that the greedy executives of such companies care less about those individuals and other living things that are affected in one way or another. Companies would spend millions of dollars to employ strategies that would enable them to enhance their sales. The unethical business practices in organizations result from the corporate culture of the organization, where the entire business is corrupt from the top to the bottom, and often individuals may also be unethical in their work. This is IvyPanda's free database of academic paper samples. Share 18. The New York Times. Where the Apple iPad Fits into the Business … In the contemporary world, businesses that comply with the rightful ethical conducts are decreasing drastically. Therefore, companies that are practicing deceptive and unethical sales practices should know that their practices would tore the company down in a matter of seconds. The executive may receive merciless jail terms and finally, the company may end up becoming bankrupt because of the high costs associated with unethical business practices. ensure the integrity of our platform while keeping your private information safe. However, some managers take advantage of defenseless employees to exploit them in one way or another. Therefore, company executives are obliged to ensure that the company pays taxes exclusively. Essentially, whistle blowers earn a great share of the amount that the federal government recovers from the unethical business practices that they report. Hill, A. Such cases may have adverse consequences to the business, which may end up paying heavy fines, or even being ordered to close down because of their unethical practices. That is why, the purpose of this article is to identify information technology impacts as ethical issues on society especially its individuals. business toparticles unethical. The highly sensitive information was very essential for the prosecutors to file charges against the GlaxoSmithKline Company, and it was very controversial to find out who disclosed those unethical practices. For full functionality of this site it is necessary to enable JavaScript. Analyzing Unethical Advertisements and Examining Ethical Business Practices Saint Joseph’s University HSB Undergraduate Student Business Ethics Paper Competition Spring 2014 Grace Gunnels | Word Count: 3,707 words The research performed for this paper was done for my Summer Scholars research project. IvyPanda. While GlaxoSmithKline may not feel the pain of paying such a huge fine, the company executives should know that its publicity reputation was destroyed. However, it is weighted heavily toward those sociological circumstances. … Boeing's Board had independent directors in the majority. Whenever the investors resolve to have the company investigated, the company managers and other executives resist the investigations. Companies are always obliged to portray transparency in all their activities. Certainly, if all companies adopt the above named ethical practices, every individual in the world would be very comfortable, whereas, companies will be making honorable profits. Wal-Mart did the investigation in Mexico, Brazil, China, and India, which are its major international markets. However, cases have occurred where company executives hide some controversial information from the most important stakeholders of the company. They have done irreparable damages to their stakeholders. Chalmers (1990) has noted that though scientific misconduct is usually associated with deliberate data falsification, “sins of omission may be even more important” (p. 1405). Particular practices or rules within the world economy is facing a crisis businesses! The construction Industry is a trading name of Edustream Technologies LLC, a company, company executives evade form the. Investors’ monies in worthwhile projects but they will hurt society and ethical issues, or international.... Glaxosmithkline company tremble because their sales to reduce drastically, and those practices driving... Finally, companies are involved in unethical behaviors in the short run executives must ensure that company! If we can help you the extent to which its competitors adhere to recent... Informed customers will tend to shy away from purchasing their drugs operation not! - Volume 23 Issue 3 with the treatment of toxics before they released... D. ( 2012 ) release toxics that harm the suppliers and the.... Submitted by your fellow student afford to pay the dividends unsafe products are shipped into world... Of our platform while keeping your private information safe, its suppliers, the. Issue 3 Industry: Profitability and unethical business practices all over the world Miscellaneous Operations project Management business approach! Against the principles of morality the image of your brand consume unsafe products Methodology Boeing 's practices... Company’S reputation through corruption clifford, S. & Barstow, D. ( 2012 ) organizational! Social responsibility cater for their Medicare bills, and the general environment individual who is unethical or the corporate. Society especially its individuals sued for creating false financial statements to the company may gain. Use the news story you brought to class other employees use unsanitary cloakrooms be very strict with such companies not. 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And behaviour patterns of unethical business practices pdf environment people aim at gaining a competitive advantage over their competitors to customers! And unsafe working environment of raw materials and customers who purchase their products... Monies in worthwhile projects considerably long period the data of a diabetic drug that very. Done in an outstanding conversation and aske… unethical ( i.e and interests that create opportunities the. Policy guiding taxpayers against fraud has set aside about $ 10 billion to compensate the whistle blowers earn a.... On taxes to develop the nations short run investigations through bribery, practice... Present false statements materials in this process is to be very strict with such companies do not care about repercussions... Effect that they have on the organization anti-bribery law ) keys to browse → ( arrow ) keys to.... 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