Ethics and business are not incompatible
When honesty is the best investment
Business Ethics and appear to be diametrically opposed to a fruitful dialogue. However, each day becomes more aware that integrity and profit can go hand in hand.
Often common belief that ethics and business do not go together. Even some often say, half jokingly half seriously that “if we do business, then forget the ethical principles.”
Other, less drastic, talk about a particular ethic to the business world with its own rules and principles do not apply in the everyday world. To what extent is this true? What can you say about the relationship between ethics and corporate business world?
Awareness of a problem
It is known what happened to Enron in the U.S., that the November 8, 2001 acknowledged having used inappropriate practices for more profit. Some of its executives were indicted for participating in maneuvers of fraud, money laundering, misuse of confidential data and conspiracy.
In March 2002 the company Adelphia Communications, the fifth largest cable company in the U.S., announced its bankruptcy and its top executives were accused of using company assets as collateral for personal loans. Several former executives were arrested on charges of plunder and fraud of more than 1,000 million dollars and lead to the bankruptcy of the cable TV network. The directors of the company through partnerships ghosts, emptied financial assets of the firm, to the detriment of shareholders, investors, suppliers, tax authorities and the public.
With bad practices, pay for the sins
These and other recent incidents have put the issue of ethics in the table. As Lerner notes, the reality is that “the problems of values and moral attitudes are occupying an ever greater reflection and corporate power.”
What is striking is that criminal activity has reached the highest levels of several companies, securities firms, accounting firms and auditors and other major firms. This has led to only a few dishonest people have damaged the reputation of many honest companies and executives.
[...] Ethics and business are not incompatible [...]