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WSU-K44
“There is no such thing as business ethics. There is only one kind - you have to adhere to the
highest standards” (Marvin Bower). What do you think about this statement? Give your
Nowadays, for the company or the businessman, making more profits are not their
only goal because they should pay attention to other important problems. Therefore, business
ethics arise as very important for contemporary culture and modern corporations.
Furthermore, if they make business ethic choices, then these businesses will have a strong
reputation. This can be very helpful for the long-term. Ethics are not merely a glorified
person; great at being truthful by habitually saying the truth; frank by always attempting not
instrument to assist the practical business man or female deal with the endlessly recurring
moral dilemmas of business life. A famous American business theorist and management
consultant - Marvin Bower (1903 – 2003) has a quote about business ethics, which is: “There
is no such thing as business ethics. There is only one kind - you have to adhere to the highest
standards.”. This is true, because even though ethical in business is good, but they also have
some negative side. So, to avoid that the companies must consider the right moves before
deciding to do something. In this article, there are three main parts, the first one is why
business ethics is important, the second one is the standard of business ethics and the last one
According to Twin (2019), business ethics are the study of suitable company policies
trading, corruption, discrimination, corporate social responsibility, and fiduciary duties. The
law often guides business ethics, but at other times business ethics provides a fundamental
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guideline that companies can choose to follow to obtain a government endorsement. So why
are business ethics important? Juneja (2015) mentioned in his article that ethical can satisfy
basic human needs. To be fair, everyone wants to work for a company that treats every
employee fair and ethical in every situation. Besides, business ethics can also increase the
reputation and stable development of the company. To support this, O’Brien (2018) showed
that Patagonia, Starbucks, H & M, and The Dr. Pepper Snapple Group are the four companies
that are very successful in ethical sourcing and manufacturing. Moreover, the business can
make a significant contribution to the communities concerning generating the products and
services that society wants. It also makes employment, paying taxes, and acting as an engine
for world development. In a 2008 global survey conducted by Quarterly shows that 50% of
contribution to society, while 25% believe that their contribution is largely or slightly
negative (Quarterly, 2008). Another reason is that business malpractice can cause enormous
damage to people, communities and the environment. For instance, because it made a
mistake, the BP gasoline business polluted big acres of the Gulf of Mexico in 2010 (Pallardy,
2010) or The Formosa Environmental Disaster in Vietnam in 2016 had made a hundred
2017). Business ethics can assist executives or decision-makers to enhance ethical decision-
making. Business ethics understanding can assist them properly identify, diagnose, evaluate,
and provide alternatives to the ethical issues and dilemmas they are deal with.
On the other hand, business ethics also have some negative side. The concept of
business ethics focuses on individuals ' moral or ethical behavior. It is in this sense that many
people raise instantly instances of individuals ' immoral or unethical behavior when debating
business ethics. However, this concept also includes the criticism of multinational
corporations using child labor or paying pitifully low salaries to staff to less developed
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countries. Many company individuals are heavily affected by their religious convictions, and
the ethical norms have been taught as a part of their religion and apply these norms in their
company operations. Aaron Feuerstein is a prime instance of someone whose activities after a
fire destroyed almost all of his Malden Mills factory complex held his employees on the
payroll until he was able to rebuild. He has indicated often and publicly that he just did what
his Jewish faith said was the correct thing to do (George, 2015).