Ethical issues Essay
There are numerous ethical issues involved in any firm.
Such include, provision of corrupted financial statements by the organization, poor advertising methods, and failure to engage in interactional justice practices in addressing conflicting situation inside the organization. This kind of essay attempts to gives a discussion in three business problems that problem the sustainable economic advancement an investment. A discussion on viable solution to these ethical issues is also given by the author.
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The importance on ethical practices in corporate can be obvious the in failure of various corporations because of financial scams. Among the many, WorldCom and Enron corporation is still eminently offered in the twenty first hundred years. According to available information, WorldCom Firm had been associated with a number of economical scandals in the stock exchange market, which did not match their capital requirements at the time. Faithful to the notification, such had been quite important factors in driving the business to it is downfall in 2002. Based on this reasoning, financial statements find one of the very crucial ethical issues in any investment.
This is because, it influences the decision making behavior with the investors in the stock market. in addition , the principles of effective decision making process in the management level dictates for availability of correct financial info to ensure that the decision are refractive of the available implementation solutions. This has the implication that, companies should engage in making sure in very ethical business practices to improve not only the choice making process nevertheless also to protect and improve the interest and confidence of investors in the organization. Another ethical issue of concern in organization can be failure to engage in interactional justice procedures in resolving employer-employee conflicts.
The basic principle of interactional justice practice is quite instrumental in enhancing employee dedication in an corporation. by description: interactional proper rights is a step-by-step form of justice whose fairness is determined by the degree of interpersonal take care of the get-togethers involved in the procedure of making reasonable decision based upon politeness and respect of the people by the authority or the person participating in the process. In addition , another important part of fairness in interactional justice is explanation how a particular way was employed in deciding and the reason behind the adopted reference or remedy distribution technique applied.
All these provisions are quite powerfulk in mitigating counterproductive techniques among personnel due to failure of effective relational trust with their employers. The third ethical issue simply by in organization is advertisement. According to proponents of advertisement procedures by organization, the practice is mainly directed at unfairly impacting on the purchasing behavior in customers. Since an focus on this state, advertising techniques are eminently marked with misleading information on the functions and importance of products in enhancing the standard of the life of customers.
Indeed, it is not a common concern to witness court situations involving products not complementing advert says. This falsified advertisements will be however bring short-term benefits to the opportunities. Such may be attributed to the truth that in spite of the strong industrial influence through adverts, buyers are only happy by quality and personal requirements.
Therefore , falsified business advertising practices in order to negate the long-term environmentally friendly competitive good thing about the organization; the supreme dream of every investors. The sole solution to this practice is made for businesses to engage in ethical practice by simply advertising some of the qualities with their products or services.