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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.
After becoming a public company in August 2005, it was revealed that Phillip R. Bennett, the company's CEO and chairman, had concealed $430m of bad debts. Its underwriters were Credit Suisse First Boston, Goldman Sachs, and Bank of America Corp. The company entered Chapter 11 and Bennett was sentenced to 16 years in prison. Bear Stearns: United ...
The English word ethics has its roots in the Ancient Greek word êthos (ἦθος), meaning ' character ' and ' personal disposition '. This word gave rise to the Ancient Greek word ēthikós (ἠθικός), which was translated into Latin as ethica and entered the English language in the 15th century through the Old French term éthique. [6]
Unfair business practices (also Unfair Commercial Practices) describes a set of practices by businesses which are considered unfair, and which may be unlawful. It includes practices which are covered by other areas of law, such as fraud , misrepresentation , and oppressive or unconscionable contract terms.
For example, an employee of a company that produces a specific product might praise the product anonymously in a discussion forum or group in order to generate interest in that product, service, or group. Web sites can also be set up for the same purpose. In addition, some shills use sock puppetry, where one person poses as multiple users.
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.
Walt Disney Co. and its chief executive have made a sharp pivot since doubling-down on diversity and inclusion efforts in the wake of George Floyd's murder in Minneapolis four and a half years ago.
The spitball is an illegal baseball pitch where the ball has been altered by the application of a foreign substance, such as saliva or petroleum jelly. The emery ball, also an illegal pitch, consists of throwing a ball that has been scuffed by a rough surface, such as an emery board or sandpaper.