what Alan Greenspan called the “increasingly complex financial instruments” that were supposed to have built “a far more efficient, flexible and resilient financial system” were actually tools designed to circumvent the banking regulatory system meant to ensure safety and prudence in the first place (Lewis et al., 2010:79). The bankers behind them were not motivated by any desire other than greed for profits, and their greed cost hundreds of thousands of people worldwide their homes, jobs, and the security of their families.
In earlier times and even today in many cultures, the image of a businessman connotes shrewd selfishness that will not hesitate to pry the last dollar from an unwitting customer’s fingers. In many instances, the impression is well-justified, prompted by the oft-used phrase: “It’s only business” in explaining why the hapless customer should find himself short-changed. The multi-million dollar golden parachutes CEOs of the failed banks awarded themselves with before abandoning the ship of drowning investors are perfectly legal, they argue: it’s just business, as if that were sufficient excuse to avoid the norms of ethical behaviour.
It is often thought that unethical behaviour in business is caused by the lack of time to ponder the repercussions of a decision that must be made in haste. That is not so, according to a recent study. Zhong, et al. (2010) found just the opposite, that the greater the time for deliberation, the less ethical the decision tends to be. This appears to contradict all known earlier philosophies that the time to reason ensures ethical choices. The experiment performed in the study, however, seems to suggest that when given the freedom to consult their consciences before acting, instead of simply following the rules, one is persuaded to rationalize his actions, to provide some “good” to explain why an unethical decision (usually more beneficial to himself) could be made. In simple words, the
The financial crisis of 2007 has been called by then President-Elect Obama as “the biggest financial crisis since the great depression,” and so far has called for a bailout plan that is expected to ultimately reach almost $2 trillion (Lewis et al., 2010:83). In the…
Unethical advertising is preparing such advertisements that do not comply with the general norms of advertising and do not meet certain requirements. There are various types of advertising considered unethical and business experts are putting efforts to avoid implementation of such methods in the future.
The implications with ethics often lead to difficulties and problems with corporations. There are a variety of companies that have established corrupt systems or which move beyond ethical boundaries because of the main structure of the organization. Identifying what the main problems are and analyzing these theoretically is one which then creates a different understanding of the corporations and the main associations which they have in terms of ethics.
Some of the common criticisms in this respect are related to participant confidentiality, informed consent, and doctoring of results. This paper discusses a case involving abuse of informed consent during a business research exercise with the offending company facing litigation.
First, India maintains a very high population of unskilled citizens that have not received education to find jobs in specialized fields such as information technology and investment services. Because of this, they are forced to work in manufacturing facilities for low pay.
The company’s C.E.O since 1994 was Michael O’Leary, who has been incessantly criticized for his harsh and supposedly unethical management style. Just a year after the company was unveiled; it serviced two turbo prop aircrafts, which flied about 82,000 passengers.
Proponents of globalisation emphasize on upgrading of developing countries living standard through employment and technological innovations. Opponents claim that national sovereignty is lost under pressure of 'global monsters'.
oblems are and analyzing these theoretically is one which then creates a different understanding of the corporations and the main associations which they have in terms of ethics. This can be furthered with the ideologies of libertarians or Aristotle, specifically which helps to
Apart from these categories of advertisements, there are these advertisements that try to let us know first where the problem is so that they can provide for us the solutions to the problem. In a way, these ads tell us vividly why we need to buy some products through
The key research question of this study is to identify and critically evaluate the ethical issues that have been faced by McDonald’s from its range of fast-food items offered to the consumers across different nations. The literatures in this section will be gathered from different academic books and reports, peer-reviewed journal.
5 pages (1250 words)Essay
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