Essay - What Effects Do Unethical Management Practices Have on Corporations in...

WHAT EFFECTS DO UNETHICAL MANAGEMENT PRACTICES HAVE ON CORPORATI*****S IN TODAY'S BUSINESS ENVIRONMENT?

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Ethical corporations are those not in each day's new reports presently and are those receiving very little attention at this time. However, corporations that are unethical are receiving a great amount of ***** ***** late and most individuals underst***** what is considered to be unethical in today's bus*****ess world however, an understanding of ***** precisely is considered to be ethical conduct ***** a little hazy or so it appears from current events in the U.S. m*****tgage market and even beyond ***** Un*****ed States ***** the United Kingdom.

I. EFFECT OF ETHICAL CODES ON CONDUCT AND BEHAVIOR

The work of Dr. John O. Okpara entitled: "Can Corporate Ethical Codes of Conduct Influence Behavior? An Exploratory Study of Financial Managers in a Developing Economy" states ***** in "today's competitive business environment, a corpor*****te code ***** ethics should serve as the foundation upon which employees make decisions based on h*****esty, integrity, confidence ***** trust." (2003) Okpara states that providing a code of ***** in written form assist ***** in understand*****g of "what their organizations expect from them in terms ***** responsibilities and behavior." (*****) A ***** of ethics further serves as a reflection ***** standards of the corporation ***** well as establishing "realistic modes of ***** that applies to everyone in ***** company, from the board of directors to ***** newest employee." (Okpara, 2003) Okpara relates the statement of Solomon and Hanson (1985) who relate ***** the code ***** ethics is important "because it provides visible guidel*****es, stability ***** an organization, and a point of focus for everyone in ***** *****." (Okpara, 2003)

II. GROWING IMPORT*****NCE ***** ETHICS AND SOCIAL RESPONSIBILITY

The work ***** Gormus (2004) entitled: "Economic Analysis of Ethics and Social Responsibility ***** Today's Business Environment" ***** that ethical and social responsibility "are becoming incre*****ingly important in ***** ***** environment. Their effects on the profitability and the l*****g-term survival of a firm are enormous." (2004) ***** additionally states that it is extremely important "to ********** the various definitions of ethics. Ethics, using a contempor*****ry definition, ***** the motivation based on moral ideas ***** right and wrong." (*****) Gormus states that ********** ***** three approaches that may be used in apply*****g a ***** to the p*****rameters of ethics:

1) Utilitarian approach;

*****) Religious approach and 3) Self-interest approach. (2004)

The emphasis of the utilitarian ***** is "the direct and indirect consequences of an action to all other people. The main criteria ***** th***** approach is ***** *****ly correct course of action is one that brings the *****est good for the greatest number of people." (Gormus, 2004) Gormus ***** that ***** religious ***** ***** "emphasized in Judeo-Christian tradition and the Muslim religion, is where a person should tre*****t other ***** the same way he/she wants to be treated." (*****)

Fin*****y, the emphas***** of ***** self-interest approach is stated by Gormus to be "where an action is morally ***** if it increases benefits for the individual in a way that