Essay On Ethical And Unethical Business Practices

The primary focus of any business in this day in age is to make a profit and to satisfy shareholders. Now how a business goes about making a profit and satisfying their shareholders determines if the organization is practicing business ethically and lawfully or if they are not. Determining if businesses are conducting themselves in an ethical and legal way is extremely important in analyzing the affect shareholders have in a company’s progress and the roles they play in the competitive market. Although unethical and unlawful behavior seems to be almost identical, they often are quite different from one another. The differences are often small minuet things, such as, one is a direct action that is illegal to do while the other is just morally

We often hear the word ethics used in everyday conversation, but what does it truly entail? The definition of ethics, according to thefreedictionary.com, refers to it as “the rules or standards governing the conduct of a person or the members of a profession” and “a theory or system of morals” (Definition of Ethics, 2014). So when a corporation has ethical business practices it means that they are adhering to the standards that CEO’s and shareholders have deemed morally acceptable. When talking about ethical business practices, it’s often difficult to not bring up the practices that happen to be unethical and these business practices are more frequent than one might

These laws, will govern how to buy, manage, start, sell and close any type of businesses. Anyone who has even the smallest bit of knowledge of business will be familiar with the rules that all businesses should be following. The most important thing about business law is that it includes both federal and state laws. Which means that businesses must adhere to both federal and state laws unless they want the possibility of being prosecuted for breaking the laws. If these laws are broken, the people who have committed these white-collar crimes are the ones subject to prosecution and do not benefit from any of the convictions they are