Everyone has faced an ethical decision sometime in life, whether or not she or he
has realized it. Ethics is a rational procedure in which an individual makes decisions
based on what they believe is right or wrong. Individuals are not the only ones who can
make these decisions. Large corporations and even small businesses can find themselves
facing many ethical dilemmas in the workplace. It is obvious that the public does not
respond well when it comes to an unethical business practice. The public’s attitude in the
matter may be so some may find themselves being directly affected.
In 2008 a man named Bernard Lawrence was convicted of fraud. Lawrence was a
stockbroker, an investment advisor, as well as a chairman of NASDAQ. His firm was
considered one of the top firms on Wall Street, and generated large sums of money to its
investors. However, it was later found that the business was an illegal Ponzi scheme.
Investors lost large sums of money and employees from the firm later lost their jobs. In
conclusion to the case, laws such as the Sarbanes-Oxley Act of 2002 were enforced in all
Another unethical situation occurred around 2007; however, this situation
affected more than just a small group of investors. The Subprime Mortgage Crisis
occurred and correlated with the Great Recession. Home prices and property values went
down and many people, unable to afford mortgages were forced to foreclose their homes.
The situation had begun when banks were forced to hand out loans to those with low
income and credit. Unfortunately, borrowers were unable to keep up with mortgage
payments and defaulted on the loans that were given, this led to a domino effect. At the
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...acting respectably within employees and customers. In,
fact the company’s motto “don’t be evil” has impacted how the public views the
company. Many people are impressed that such a large company that holds ethical
integrity and standards to be one of the world’s top brands.
Ethical and moral decisions may be difficult to identify at times since people have different views on what is right or wrong. Malpractice decisions made by wealthy organizations have affected many people, including the decision makers. The Subprime Mortgage Crisis was a specific factor created through unethical practices and resulted in a huge financial crisis affecting so many homes and financial sectors within the U.S. and the globe. As some employees in the workforce have learned ethical decisions are made so that events such The Great Recession and other occurrences can be prevented.
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