Ethical Challenges Of Ethical Business Practices Essay

Ethics There are many challenges of ethical business practices in a non-ethical world. While some businesses do well, and are considered ethical there are some businesses that are highly questionable. As one can see through the news media some companies are so unethical, congress gets involved. Ethics are complicated enough for an individual, however, in a corporate setting the stakeholders are hoping for the multitude of people to share the same values in order for an organization to function properly and be successful. It only takes a few employees in an organization to produce irrevocable damage to a business. People are faced with ethical dilemmas every day. How, each person reacts to a situation will vary depending on their own ethical values. However, in a business the stakeholders depend on the fact that the employees that are working for a corporation would have a good set of moral values. A stakeholder is anyone who has interest in an organization such as the stockholders, employees, customers, community, and even creditors. Each one of these entities has something to lose from unethical behavior. The stockholder will loss if the stock value drops, employees can lose their jobs and customers can receive poor quality products. The community would suffer economic decline and unemployment of the local residents which would take money away from the community, and the creditors would lose the principal and interest payments for loans they have given the businessShow MoreRelatedEthical And Socially Responsible Business Practice1662 Words   |  7 PagesIntro This essay will examine in details the challenges, limitations faced by corporations and the strengths that are drawn from their ethical and socially responsible business practice. 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