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Unit I Article Review Using the CSU Online Library, locate an article that discusses the topic of business ethics. Topic ideas might include the role of ethics in the workplace, breach of ethics, the effect of internal and external forces on ethical compliance, global ethical considerations within a business or ethics and employees. Note these are ideas; please expand within the parameters of ethical topics as they relate to business ethics. Respond to the following questions: 1. Summarize the article and align it with the author’s main point. 2. How does this article contribute to contemporary thinking about business ethics? 3. How can you apply information in this article to your field? 4. How did this article fit your ethical view? Your response should be a minimum of 2 double-spaced pages not including the title and reference pages.
Expert Answer
Corporate Ethics Review
Business ethics refers to the morally accepted principles, practices and policies that guide the way the corporate and individuals conduct themselves. The corporate values address potential controversies such as business governance, corporate social responsibility, and insider trading among other. The exploration of the topic will be guided by an article ‘keeping your nose clean: A look at ethics in the workplace’.
Article Summary
This report discloses the unethical behavior of bribery in Wal-Mart store that occurred in 2005 for the warehouse to dominate in Mexico but came to light in 2012. Some of the effects of the corruption allegations were; first, the company incurred a penalty of $4.5 billion. Secondly, the stock prices dropped as well as the company’s market share. Thirdly, the reputation of the firm was tarnished, and they had to appoint former KPMG executive Tim Flynn to help them win the trust of the shareholders (Gale, 2012).
The author airs out several issues; first, the employees’ are determined by the conduct of the top executive. Therefore, if the seniors express that profit are better that integrity, that is thw way the employees Secondly, in the global context, the corporations that get into business treaties with a nation that values bribery as an exchange need to clearly explain to employees what it means to conduct themselves ethically. Therefore, the ethic in the workplace needs to be observed to enhance efficiency and avoid consequences of breaching the ethical regulations.
The contribution of the article to the contemporary reasoning about corporate ethic
The modern organization culture perceives that business ethic is meant to guide the behaviors of employees only, however, that is contrary. Secondly, the article brings to light the unethical actions of senior executives in their struggle to achieve higher profits. Additionally, in the modern business ethic, the employees cover their leaders’ misconduct, hence, the reasons why bribery in the global firms has increased recently. The desire for a higher position is making many employees breach their fiduciary responsibilities (Carroll & Buchholtz, 2014). The lawyer of Wal-Mart covered the illegal misconduct of top executive of the firm through being promoted as a vice chairperson.
Ethical issue faced by leaders
Bribery is the key ethical issues the leaders are facing. The Wal-Mart executives’ practiced bribery to gain a broad market share and higher profits. The leaders spend at least $24 million to settle for the premise permits, environmental reduction cost and zoning approval (Gale, 2012). This aspect is due to high profits insinuates maximization of the shareholders wealth, hence, the shareholder will be attracted to the firm’s stock market. Besides, high profits will result in considerable market share since consumers have trust in the corporate brands.
Application of the article in my field
This article has enlightened and provided me with vast and valuable knowledge regarding business ethic. I will use the knowledge gained to educating my fellow colleagues regarding ethic issue since they are the leaders of tomorrow. In addition, I will offer training on ethic in my potential workplace and enhance evaluation of projects regularly to ensure every employee irrespective of the position complies with the set ethic guidelines. This practice will enable the firm to attain a balance between the outcome and the courses of action undertaken.
How the article aligned with ethical view
The article emphasized on letting people know what is right and the consequences of deviation from complying with the set standards. Also, the article places much emphasis on setting an example for others to follow. This due to individual behavior dictates the entire corporate conduct; thus, a morally set conduct in an organization will enhance the virtue to be exercised by all stakeholders (Ciulla, 2014).
References
Carroll, A., & Buchholtz, A. (2014). Business and society: Ethics, sustainability, and stakeholder management. Nelson Education.
Ciulla, J. B. (Ed.). (2014). Ethics, the heart of leadership. ABC-CLIO.
Gale S. F., (2012).Keeping Your Nose Clean: A Look at Ethics in the Workplace. (n.d.).
