Ethics: The Foundation of Good Business

According to the Hutchinson Unabridged Encyclopedia business ethics is the moral principles defining how businesses and business professionals should act toward each other, employees, and the public. Some professions such as law and medicine clearly have defined codes of professional ethics. In other areas appropriate behavior has been established over time by practice. Business ethics involves the role of a company in our society. Complex and contentious areas of business ethics would include the effect a petrochemical company's actions have on the environment or the obligation of a pharmaceutical company to make its drugs available to developing countries. As lobbyists and pressure groups become more powerful, companies are being forced to pay greater attention to corporate responsibility and business ethics (Business, 2009).

Human Resources Issues

A company’s human resources is its most valuable and expensive investment that can make or break a company in relation to its success. One major ethical issue faced by the human resources department is discrimination. Unfortunately, discrimination is alive and well in our business environment today, which have a major affect on local communities and organizations. One aspect of discrimination I have either experienced or witnessed is the lack of respect and accomodation for female workers, especially in corporate America. In most cases, the female employees tend to have lesser salaries than men in the same position. Companies also do not cater to women with respect to childcare issues, and lactating mothers returning to the worforce after maternity leave. Another aspect of discrimination that is prelevant in today’s business environment is the treatment of older employees, co...

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...ears, without any consideration of the damge the software issues with their cars and trucks may cause to their customers safety. The company was accused of hiding this fact because a re-call would cost millions.

Conclusion

There is necessity for companies today to practive excellent business ethics. Ethics is the foundation of on which good relationships are developed, it encompasses who businesses deals with their partners or associates, customers, and employees.

Works Cited

Business Ethics. (2009). In The Hutchinson Unabridged Encyclopedia with Atlas and Weather guide. Retrieved from http://www.credoreference.com/entry/heliconhe/business_ethics

Trevino L.K. & Nelson K.A. (2006) Managing business ethics. Straight talk about how to do it right (4th ed) Hoboken, NJ John Wiley & Sons. Retrieved from https://ecampus.phoenix.edu/classroom/ic/classroom.aspx