Ethics lost in business
Ethical problems occur because of a lack of integrity, problems related to organziational relationship, conflicts of interest, misleading advertising.
Ethical challenges occur within every business organization. Ethics highlight a test of morality. In business, ethics are imposed on you and there is minor punishment if one crosses the line. While it’s hard to contemplate on imposing harsh penalties, it quite evident that ethical values or ethics cannot be quantified for there is no right and no wrong — an act can be considered right for one but can go wrong for the other. In businesses, lack of integrity one of the gravest issues concerning the ethics. Most just pretend they are honest or fair which is seldom the case. In fact most of the financial dealings are formed through intimidation, harassment and lies.
Top management holds meetings to teach its executives how to withhold certain data or misrepresent investments in order to acquire clients. These promote a rousing picture about their and tends to create goodwill.
Many have organizational relationship problems that stem from a company not having a clearly stated mission, goals, and objectives. Employees need to put the company’s goals ahead of their own personal agenda but they do the other way round. Some steal millions from the company and donate the money to their own charities to make themselves look impressive to their peers. Peer pressure is another problem. Employees pressure other employees to act unethically. When this happens, if the person is unwilling to act the way everyone else is doing, he is carried away by the momentum. He hardly realizes whether what he is doing is right or wrong.
Conflict of interest is another serious issue that can lead to ethics getting lost during business dealings. Member of the board may take decisions that generally contradict the interests of the stakeholders. It is beyond the company policies and codes of conduct. Such decisions are mostly based on ethics and differentiation what right and wrong are, and what are self-interests and shared objectives.