Ethical Decisions in business
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The need for a process for making ethical decisions in business is great. There are a large number of instances where ethical decisions are necessary in business operations, corporations find that they can get themselves into trouble even when they are trying to be ethical if they do not have a strong and effective procedural structure to guide employees in making such decisions. One aspect of ethical decision making comes under the heading of crisis management as corporations are faced with some huge problem that may involve liability and legal issues but that certainly involves questions of public image. A second aspect is the day-to-day decisions which have not yet reached the point of crisis but which could if ethical decisions are not made. Even without any external threat to a company, an ongoing process of ethical decision-making crates an atmosphere in a company that is beneficial, that contributes more to society, and that helps create an environment in which employees may flourish and do their best. Companies should consider and institute a set of procedures to guide managers and employees in making ethical decisions when faced with some dilemma calling for such a decision, and the system then should be monitored to assure that the guidelines are followed and that they are effective. Ethics in business have been debated since the mid-1960s when Ralph Nader published his book on the dangers of the Corvair automobile and charged that General Motors was knowingly
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5. a policy that makes certain that every bribe attempt is reported; and
6. an active promotion of high standards through executive leadership and example (Karrass 29-31).
The United States has tried to stem foreign corruption by American companies with legislation, though this can only be a partial solution at best. An important piece of legislation was the Foreign Corrupt Practices Act (FCPA) of 1977, and it has been controversial since its inception. The antibribery laws and the accounting provisions of the FCPA represent the most significant intrusion of government into corporate affairs since the original enactment of securities provisions in the 1930s, and corporate accountability has become a complex undertaking of extraordinary importance not only to enhance the image of the nation but also to assure its social wellbeing. The U.S. Government finds itself in a difficult situation as it tries to pioneer international ethical business standards while at the same time seemingly losing the competitive edge in foreign trade. The unilateral American effort to upgrade the ethical standards of international business is believed to be sectioning off large portions of the globe as unsafe areas for U.S. companies to solici
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Approximate Word count = 1525
Approximate Pages = 6 (250 words per page)
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