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Business ethics operates on the premise, for example, that the ethical operation of a private business is possible—those who dispute that premise, such as libertarian socialists (who contend that "business ethics" is an oxymoron) do so by definition outside of the domain of business ethics proper. [citation needed]
Since his release, Fastow has worked the public speaking circuit with presentations on ethics and business. In one such speech, Fastow recounts his crimes at Enron and reflects on his guilt: “I found every way I could to technically comply with the [accounting] rules... But what I did was unethical and unprincipled. And it caused harm to people.
Ethical codes are adopted by organizations to assist members in understanding the difference between right and wrong and in applying that understanding to their decisions. An ethical code generally implies documents at three levels: codes of business ethics, codes of conduct for employees, and codes of professional practice.
The function of developing and implementing business ethics in an organization is difficult. Due to each organization's culture and atmosphere being different, there is no clear or specific way to implement a code of ethics in an existing business. Business ethics implementation can be categorized into two groups; formal and informal measures.
While being legal, facilitating payments are still considered to be questionable from the point of view of business ethics. [6] [7] The following arguments have been made: unfair competition: smaller business have fewer opportunities and less financial possibilities to "grease" foreign officials; sustaining questionable business practices [8]
Eastern ethics in business; Employee-driven growth; Enron Code of Ethics; Entrepreneurial feminism; Ethical decision-making; Ethical implications in contracts; Ethics in business communication; Ethics in mathematics; Ethics in pharmaceutical sales
Applied ethics – using philosophical methods, attempts to identify the morally correct course of action in various fields of human life.. Economics and business Business ethics – concerns questions such as the limits on managers in the pursuit of profit, or the duty of 'whistleblowers' to the general public as opposed to their employers.
Anti-competitive behavior is used by business and governments to lessen competition within the markets so that monopolies and dominant firms can generate supernormal profits and deter competitors from the market. Therefore, it is heavily regulated and punishable by law in cases where it substantially affects the market.
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