The Importance of Ethical Business Practices Walmart Law...

This issues study is aimed to explain the importance of ethical business practices which also include social responsibilities and will be compared to an example of an unethical business practice. It will explore the different unethical issues in business, the benefits of running an ethical business and this will be done with reference to a certain case study. Ethics are moral guidelines which govern good behavior. For a business to behave ethically, it must follow strict guidelines which ensure the health, safety and human rights of every employee within that business. Unfortunately, there are many cases were certain companies will not follow any ethical guidelines and may often lead to sickness and or/death of some or all employees.†¦show more content†¦Aside from sexual discrimination, there are many other unethical issues that can occur within businesses. These can include unfair wages, employing children under the legal working age and unsafe and unsanitary work practices. Having an unethical business may have its advantages, but they come with disadvantages and consequences as well. The main benefit from running an ethical business is that owners can avoid legal problems. This includes the penalties that may arise if a company gets caught after being unethical and legal fees and fines. This can cause long term damage if the public finds out by negative publicity. These things can lead to loss of loyal customers. Having loyal customers is a big part of the long range business success. It obviously plays a major part in funding for the company as they use the profit they make off the customers. By keeping a business running ethically, owners can ensure they are retaining good employees. Companies who are honest to their employees and treat them fairly and ethically have a better chance of keeping loyal employees, employees who are unhappy will not dedicate themselves to the company like a happy employee would and this leads to a negative work environment. Within a negative work environment, employees may begin to arrive late to work, start to do the wrong things and the worst cases can include theft. An example of an unethical business is Wal-Mart. There have been numerousShow MoreRelatedTarget Strategic Audit Essay15491 Words   |  62 PagesTarget needs to perform a detailed research on its e/m-commerce platforms and those of the competition. Since Target is the follower, without spending too much in RD it can take advantage of what Amazon has proven to be working and internalize those practices that increase number of visitors and transactions. 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Members of the Team: Marcus Bedford Jon Cable Wayne Oulicky Constince Sanchez Table of Contents: Executive Summary.†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.2 Problem Statement †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦...2 Situational Description and Strategic Analyses †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Read MoreManaging Information Technology (7th Edition)239873 Words   |  960 PagesTechnology Platform CASE STUDY I-7 Midsouth Chamber of Commerce (B): Cleaning Up an Information Systems Debacle CASE STUDY II-1 Vendor-Managed Inventory at NIBCO CASE STUDY II-2 Real-Time Business Intelligence at Continental Airlines CASE STUDY II-3 Norfolk Southern Railway: The Business Intelligence Journey CASE STUDY II-4 Mining Data to Increase State Tax Revenues in California CASE STUDY II-5 The Cliptomaniaâ„ ¢ Web Store: An E-Tailing Start-up Survival Story CASE STUDYRead MoreMerck Case18783 Words   |  76 PagesPharmaceuticals: Merck Sustaining Long-term Advantage Through Information Technology Hiroshi Amari Working Paper No. 161 Working Paper Series Center on Japanese Economy and Business Columbia Business School December 1998 Columbia-Yale Project: Use of Software to Achieve Competitive Advantage PHARMACEUTICALS: MERCK Sustaining Long-term Advantage Through Information Technology Prepared by Hiroshi Amari Research Associate, Yale University William V. 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