Every business must have suppliers of raw materials and customers who purchase their finished products. 1. Others, however, believe that the trend began by relaxing the traditional etiquette rules of workplace etiquette, including casual clothing of the business. 201. learners. ... Loewenstein and Moore 2005) described how auditors are often blind to clients’ internal changes in accounting practices, but only if the changes appear gradually. Boeing's Board had independent directors in the majority. However, there are those business people who opt to employ unfair and unethical business practices that result into unfair competitive practices. manager, Unethical practices _____ 1. No amount of fine can compensate for the unethical practice of selling unapproved drugs to humans. They evade the expenses that are associated with the treatment of toxics before they are released into the environment. Web. You may also like . Everybody has conscience and also knows when he/she is doing what is wrong or what the society … Moreover, the affected individuals would be junior employees of the company who may suffer from lifestyle diseases. In the case of customers, the involved stakeholders of the company must ensure that the customers obtain quality products and services. Whether it is covering for someone who shows up late or altering a time sheet, misusing company time tops the list. Moreover, company managers should understand that the government depends on taxes to develop the nations. The companies release toxics that harm the lives of the living things around their locality. Wal-Mart was a victim of unfair business practices in the recent past. professional specifically for you? Moreover, if the courts decide to be very strict with such companies, they may be fined heavily. The vulnerable employees have no choice but to be submissive. – Resorting to dishonesty, trickery or deception. However, some managers take advantage of defenseless employees to exploit them in one way or another. Introduction The construction industry is a challenging and demanding business sector. The company was also well-known for the values and ethical code of conduct it had laid … While GlaxoSmithKline may not feel the pain of paying such a huge fine, the company executives should know that its publicity reputation was destroyed. In most businesses, at least one business practice is done in an unethical manner. The company has a motto of delivering excellent services and maintaining the highest level of ethical standards. Unethical Business Practices Directions: Ethics are the basis for good and honest business practices all over the world. Once consumers know that a company employs unethical business practice in their operations, the effects are inerasable. Some companies release chemical pollutants into the air or into water bodies. justify particular practices or rules within the world of business. Consequently, the world economy is facing a crisis as businesses evade from paying taxes. Business professionals have responsibilities to make decisions based upon ethical principles. Katharine Jones. The Relationship Between Academic Dishonesty and Unethical Business Practices. unethical behavior. Hill, A. Regardless of how effective their drugs would be, informed customers will tend to shy away from purchasing their drugs. At the end of the day, the government, employees, investors, competitors, and the customers suffer while the crooks enjoy the fruits of their unethical business practices. Unethical business practices and their effects, Wal-Mart inquiry reflects alarm on corruption, Glaxo agrees to pay $3 billion in fraud settlement, Report on GlaxoSmithKline’s Leadership Management Framework, GlaxiSmithKline Company Leadership and Controlling, Role of Hiring Ethical People in Creating and Sustaining Organization, Moral obligations of multinational corporations, News of the Ethics and Social Responsibility. In most businesses, at least one business practice is done in an unethical manner. Further, the company distorted the data of a diabetic drug that recorded very high sales, and it marketed other drugs improperly. All companies ought to adhere to the pollution norms set by the government. Financial Times. A short summary of this paper. It was done as a way to provide knowledge to young business professionals … George, J.M. Finally, companies are requested to have a corporate social responsibility. 207-211. It can send wrong signals about your services and products and drive away potential consumers. Therefore, the first step in this process is to recognize these unethical practices as we have done. The executives of some companies have taken advantage of humble investors to mishandle their propriety. Analyzing Unethical Advertisements and Examining Ethical Business Practices Saint Joseph’s University HSB Undergraduate Student Business Ethics Paper Competition Spring 2014 Grace Gunnels | Word Count: 3,707 words The research performed for this paper was done for my Summer Scholars research project. G4S is at the risk of destroying its reputation; therefore, the future of the company is at risk. This paper will give a stringent analysis of the various unethical business practices and the effect that they have on the organization. Many have attributed this rise of infidelity and immoral behavior to the recent US presidential election and the ongoing behavior of Donald Trump. Firstly, the court can impose heavy fines to the company, which can declare it bankrupt. They should ensure that the investors obtain their dividends in time. However, upon investigation and publicity of the matters, the company will have its reputation destroyed. The unethical practices in businesses are adversely affecting governments through the loss of taxes (George & Jones, 2010). Misuse of company time. Today, on occasion, you can’t tell the difference between an employee and a customer coming from the beach. Technologies LLC, a company registered in Wyoming, USA. We will write a custom Term Paper on Unethical business practices and their effects specifically for you for only $16.05 $11/page. Following are some of the activities that come under the ambit of unethical practice. They should make it their obligation to think about their descendants who will need a safe environment. They have to ensure that the employees’ salaries are disbursed at the right time. Patricio Dobrée. As discussed, some vulnerable employees suffer in silence, and it is upon the business managers to ensure that they treat all their employees equally. The financial sector is abuzz with acts of violation of norms to amass wealth in an unethical manner. August 27, 2019. https://ivypanda.com/essays/unethical-business-practices-and-their-effects-term-paper/. & Jones, G.R. Unethical business practices that involves the offering of kickbacks to win customers could have costly legal repercussions. Companies have to be warned that there is a whistle blower policy that rewards employees with substantial rewards. In July 2 2010, the New York Times revealed the case of GlaxoSmithKline Company. Aske… unethical ( i.e investigated, the purpose of this paper will give a stringent of. Way or another aim at gaining a competitive advantage over their competitors win! In operation can not afford to pay the dividends who will need a safe environment reputation ; therefore, on! 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