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Business Research Ethics Essay

988 words - 4 pages

Business ethics is the principles and standards that determine acceptable conduct in business organizations. If there was any doubt that ethical standards can have a significant impact on work life, research has confirmed that such doubt is unwarranted. A multitude of research has demonstrated that ethics is related to a variety of important job related outcomes. For example, studies have shown that a higher ethical work climate (Mulki, Jaramillo, and Locander, 2008) and top leadership support for ethics and both positively relate to job satisfaction. Ethics codes (Valentine and Fisherman, 2008), ethics training, and perceived corporate social responsibility are also linked to job ...view middle of the document...

It is also alleged that Enron tried to sell an interest in electricity generating barges linked off the Nigerian coast. Another unethical conduct was insider trading were a former Chief Executive of Enron pleaded guilty to insider trading, this is whereby Merrill Lynch were to act as a temporary buyer to Enron so that it could record earnings and cash flow, making it appear profitable in the year 1999 than it could possibly be, this indictment stated that Enron and Merrill Lynch made a deal that they agreed on a profit within six months selling it to a third party, this deal was hidden from outside parties, that was significantly unethical. The former Chief executive also confessed to other fraudulent schemes where one company excess profit was used to cover the losses amounting to millions of dollars in another company. Neglect of integrity capacity by managers was another unethical practice by Enron and Merrill Lynch, in this case the manager resolve to ignore moral measures of dealing with pressures from losses to taking unethical decisions to save the company. Managers are expected to have leadership values and to have perfect decision making skills, know how to deal with pressures in business and the most important of all, practice ethical conduct.
The severely injured parties were the company investors who had put in a lot in the company, since they were deceived that the company was doing better they kept on investing their hard earned money into the company little did they know it was a bottomless pit. They suffered major losses since the company had recorded millions of dollars in losses that meant they wouldn’t be able to get a return of their investment. Another party that suffered the most was the employees of the companies who had to lose their jobs; some faced charges since they witnessed the deals and dint raise an alarm while some were innocent bystanders who got hit without prior notice. Top management officials who were named or involved in the scandal also got severely injured with...

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