Important Ethical Issues In Business To Remember
In applied ethics, questions that arise in fields such as the legal, technical, medical or business are dealt with. Ethical issues in business are dealt with in business ethics, which is a form of applied ethics. When there are any moral or ethical issues that are present in any business environment, these are examined thoroughly. Any business must have business ethics by applying ethical or moral values into their work through their conduct – the individuals' who work in the business as well as that of the business organization.
There are several ethical issues in business that need to be addressed. Through the development of many laws and initiatives, these issues are able to be dealt with. There is a certain ethical code that individuals must follow when conducting any business. This ethical code covers any personal or corporate behavior when dealing with negotiations or with suppliers and customers. This also covers any behavior during the recruitment process.
There are also ethical issues which involve the business and the society. This covers issues that arise about the involvement of the business with the community, its donations to various causes, the using of animals in experiments and animal testing, its acceptance of responsibility for any mishaps related to the business, and honesty and fairness in marketing and advertising. Some examples of unethical practices that can occur in marketing and advertising include brand piracy and using counterfeit goods, imitating packaging or brand in order to mislead consumers, pricing that is unclear, issuing credit cards or credit limits irresponsibly, and using high pressure to sell goods.
Ethical issues regarding products and product selling that may arise include the selling of unsafe products, failing to include information on a product's side effects, unnecessary packaging which can contribute to more waste, the selling of banned goods, deceiving advertising of the product's contents and size, and animal testing on products.
When dealing with customers and with employees, there are also ethical issues in business that may arise. These include taking care of the working conditions of the employees, the behavioral treatment of employees, employment of individuals with disabilities, the proportion of the women or members of the ethnic minority who hold high positions in the business, its loyalty to its workers during times of economic crisis, using bribery when securing contracts, the use of child labor, and its customer treatment.
Businesses must be incredibly careful with its practices especially in the supply chain. There is a great possibility for ethical issues in business to arise when business production is done in sweatshops, there is a violation of basic human rights of the workers, use of forced labor, use of child labor, and if there is no consideration with the safety and health standards of the workers.
There must be an ethical audit being done for each business to ensure that all the ethical principles are pursued and to what extent this is being pursued. If not, the ethical auditing of a business must establish some courses of action to ensure that all ethical issues in business are being addressed.
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