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If an action is illegal it is breaking the law but if an action seems morally incorrect that is unethical. In the workplace what is unethical does not mean illegal and should follow the guidelines put in place by OSHA (Occupational Safety and Health Administration), EEOC (Equal Employment Opportunity Commission), and other law binding entities.
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.
Employer activity that is not prohibited by law is usually permitted. Ignorance of the law does not make something legal. Managers cannot order people to participate in situations involving something that is illegal, unethical, or unhealthful. When a worker feels that this is the case, they may file a dispute.
Unethical behavior in a business context covers actions that do not obey the acceptable criterion of business operations beyond simply legal requirements, but morally accepted ones. [ 40 ] Unethical behavior can be intended to benefit solely the perpetrator, or the entire business organization.
These practices are often considered illegal or unethical and can harm consumers, other businesses and the broader economy. 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.
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The mere thought of money can trigger a subconscious mindset that predisposes people towards unethical actions, according to recent research by professors at Harvard and the University of Utah ...
Predatory lending refers to unethical practices conducted by lending organizations during a loan origination process that are unfair, deceptive, or fraudulent. While there are no internationally agreed legal definitions for predatory lending, a 2006 audit report from the office of inspector general of the US Federal Deposit Insurance Corporation (FDIC) broadly defines predatory lending as ...