Ethics In Business
With issues of corporate integrity and accountability in the news daily, business ethics has become very important in today's corporate world. I believe that in today's world ethics is essential to success. What is ethics? Ethics involves learning what is right or wrong, and then doing the right thing -- but the "right thing" is not nearly as straightforward in the business world (Velasquez 1992). However, ethicists assert that there is a right thing to do based on moral principle, and others believe the right thing to do depends on the situation.
The history of business ethics is important because it gives us an idea of how ethics has evolved throughout the years. Before 1960, ethical questions related to business were often discussed theologically. Religious leaders raised questions about fair wages and labor practices. Each religion applied its moral concepts not only to business but also to government, politics, family, personal life, and all other aspects of life (Business ethics). In the 1960's we began to see the rise of social issues in business. The 1960's saw two important events. One, president John F. Kennedy discussed the consumer bill of rights (Business Ethics). Second, Ralph Nader published "Unsafe at Any Speed," which criticized the auto industry for focusing on profit and style instead of safety ad protection (Business Ethics). In the 1970s, business ethics began to develop as a field of study. Business professors began to teach and write about corporate social responsibility. Businesses became more concerned with their public images, and as social demands grew, many realized they had to address ethical issues more directly (Business Ethics). By the end of the1970s, a number of major ethical issues had emerged such as bribery, deceptive advertising, price collusion, product safety, and the environment (Business Ethics). In the 1980s business academics acknowledged business ethics as a field of study. Five hundred...
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