Mgt – Ethical and Moral Issues in Business
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Ethical and Moral Issues in Business
Ethical and Moral Issues in Business
Ethics and morals are important in individuals everyday personal and professional lives. An individuals personal morals can impact ethical decisions made in his or her organization, and those decisions can cost the person their job or businesses reputation and resources. This paper will discuss the differences between ethical and moral issues, the difference between personal and professional ethics, and common ethical problems in business for each.
There is a difference between ethical and moral issues. Morals are how a person is able to choose from what is right and wrong behavior in personal and business situations. An individuals moral judgments are formed throughout his or her life situations and interactions with peers (Nelson and Trevino, 2007). Ethics are the customary codes of behavior those individuals in groups and organizations need to uphold. Ethical codes will be different for his or her professional, family, company, and social ethic situations.
Individuals morals can affect the ethical decisions made in his or business. A person may have specific morals, and unethical issues are going on in his or her organization. Planned Parenthood is an organization that gives teenagers means of birth control along with other services that may seem immoral to individuals, but it is not unethical for that organization. Although, there are businesses that practice unethical behavior by receiving bribes or falsify information.
Private Physician offices have daily visits from Pharmaceutical representatives trying to get the doctors to market their drugs. Pharmaceutical representatives will offer the entire staff lavish lunches and gifts to bribe the doctors into using their drug for patients. Bribery is unethical, but it is very common within medical services
Individuals who are hurt at work are entitled to have medical insurance claims sent to his or her employers workers-comp insurance company. Workers – comp will pay for the employees services, time off if needed, and medications, but the insurance rate will go up tremendously for the employer. It is unethical for an employer to ask an employee to use his or her personal medical insurance, and in return the employer will offer the employee paid time off or extra vacation days.
There is a difference between personal and business ethics. Personal ethics