I have 5 sources but they are all on my college library.
I have a research paper for English class.
my topic:The importance and impact of good ethics in the business world; Proper business ethics are very important for the success of a company.
what I have so far:
Avoid phrases such as “are like” – especially in your opening sentence.
Introduction needs work – thesis?
Use present tense.
Your conclusion could be used as part of the introduction.
Format of work cited page
(insert opinion here)
Definition of ethic: Proper business ethics are important for a company’s success. Business ethics are the foundation of a good company. Ethical dilemmas are all too common in the business world. Without ethics where would the business world be today. Luckily, we do have ethics this contributes to a better society. The way ethics contributes to a better society is it not only focuses on profit, but it takes humanity into account. For example, without ethics a business would pollute waterways to cut costs and maximize profits but if you stop and consider the damage to the community that’s ethics. There are ethical concerns with electronics, for example lithium and cobalt are mined in countries that use child labor. Children told Amnesty International they worked for up to 12 hours a day in the mines, carrying heavy loads to earn between one and two dollars a day. In 2014 approximately 40,000 children worked in mines across southern DRC, many of them mining cobalt, according to UNICEF. This is another ethical issue that companies face when dealing with other countries due to different workplace regulations that they have. Ethical issues in business aren’t always easy to solve, sometimes there isn’t an entirely ethical option.
why is it important,
Proper business ethics are important for the success of a company and those who work for the company, and those who live near the company. The success of the company is also tied to ethics. If a company is caught up in an ethical dilemma that can greatly affect the company’s reputation and hurt the customer base. Over half of U.S. consumers said they no longer buy from companies they perceive as unethical. This matters to the modern shopper, as we grow more socially conscious the business world is incentivized to match our interests. Ethics also matter to the employees of a company. The LrN Ethics Study confirms that a company’s reputation for ethical behavior matters a great deal to employees. An overwhelming majority of employees surveyed – 94 percent – say it is “critical” or “important” that the company they work for is ethical.
why does it matter,
Business ethics matter because. The success of a company is tied to ethics because consumers value ethical companies. Ethics also matter because typically when something is unethical it is also illegal. When they get caught it often comes with heavy fines for example the Wells Fargo scandal, they had to pay 3 billion in fines. They also damaged their reputation because of the scandal they lost investors, and many people closed their accounts. When a company has bad ethics, they lose long-term customers.
historical development of ethical concepts and practices.
Greedy business owners have been around for a long time. (Quote) For years, Keayne had been accused of being a corrupt merchant- of practicing usury, of selling goods at higher than normal prices, of placing his own self-interest ahead of the common good, and of contravening Puritan religious tenets. The specific charges against him were filed in the General court in 1639. He was fined 200 pounds for this alleged misdemeanor, although it was later reduced to 80 pounds. (end quote) The concept of unfair pricing has been around for quite some time and continues today. A recent example is Martin Shkreli, an aspiring pharmaceutical entrepreneur and former hedge fund manager, made headlines in 2015 when he capitalized on a profitable and controversial business opportunity. As the founder and CEO of Turing Pharmaceuticals, Shkreli obtained the expired patent for a lifesaving drug used to combat HIV. He raised the US market price overnight from $13.50 to $750 per pill—a 5,000 percent increase.
How good ethics affect a company: Ethics matters for the reputation of a company because without a good reputation it will lose trust with shareholders, struggle to find quality employes and attract customers. It’s easy to get a bad reputation but it’s hard to lose it. But good ethics make for a happy workplace, loyal customers and lasting profits for the future. An ethical company is also more likely to have some corporate social responsibility and have better public relations than an unethical company. They might donate to local charities. An example of this is Starbucks donating unused food at the end of the day to food banks. Another example of corporate social responsibility is Coca colas partnership with the special Olympics, a long-lasting one going on 56 years this year. Charity is not the only way business can engage in corporate social responsibly many companies have pledged to be carbon neutral. Some company’s give their employees a charity match on donation others gives them paid volunteer hours
Ethics and profitability
Ethics matter for the long-term success of a company. Because an ethical company is a trustworthy one and it’s more likely to retain loyal customers. Ethical companies outperform unethical companies with increased employee retention, long-term customers and a better reputation. Typically, ethical decisions are legal decisions and unethical decisions are illegal.
what happens when a company doesn’t have good ethics and what consequences come with it.
(Enron) (salad oil) When a company doesn’t practice good ethics it can damage the reputation. It hurts the future growth of the company and affects the future trustworthiness with investors and the public. The bad press from an ethical scandal can also leave a lasting impact. For example, Kobe steel got in trouble for lying about the certification for the metal they produced. Now this is a concern for anyone considering buying Kobe steel in the future especially if the certification matters.
The role of whistleblowers in business,
Whistleblowers hold companies accountable for bad business practices whistleblowing can be done by current or former employees. A whistleblower is anyone who has specific evidence of wrongdoing. The type of wrongdoing is significant fraud against the government, securities law violations, commodity law violations or tax violations. Even safety violations can be a reason to whistle blow. In some instances, there’s also an incentive to whistle blow. The whistleblower might receive a reward of 10 percent to 30 percent of what the government recovers, if the SEC recovers more than $1 million. Another benefit of whistleblowers is they keep companies ethical from within. They seek to make change within the company and foster a strong set of ethics for the company.
Why integrity matters.
Integrity is the act of following business practices within an ethical and moral framework. It matters for building a company’s reputation help sustain long term customers. As the
Why do Ethics Still Matter Today?
