“Business ethics are the rules
of conduct concerning practices and behaviors that are acceptable and
unacceptable in business” (ProQuest). Business ethics are very important because they are
meant to hold a certain level of conduct in the workplace. They are instilled
to create a safer, more efficient work place. I think that business ethics are
a very crucial part of today’s business world. If they were not in place and
enforced, many companies would be inefficient on a severe level. Businesses
also cannot be called ethical if they are practicing with other unethical
businesses. The chain of supply has to ethical for one business in the chain of
supply to be ethical. Examples of suppliers not being ethical would involve
child labor, sweatshop production, violation of basic rights for workers,
and/or health standards. That is only one area of business. There is also
advertising, pricing, contracts, and personal selling. Without business ethics,
businesses could price how they wanted or have cheap labor. A classic example
of an unethical business was Enron. In this case, accountants “cooked the books”
to add more assets than they really had in the books, making their revenue
ridiculously high. Also, they sold energy to the public. They ended up having
high prices and created rolling blackouts for the west coast by turning off
electricity and saving it, while consumers still paid for bad service and no
electricity. Before they declared for bankruptcy in the fall of 2000, Enron had
revenue of about $101 billion. The case with Enron did not scare off bad
business practices though. Business ethics need to be more harshly enforced.
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