The Costs of Being Unethical
The topic in class on November 1st concerned business ethics. In light of the corporate scandals that played a role in the weakening of the economy and the fall in stock prices a few years earlier, it seems that this aspect of business was not stressed well enough in those executives’ lives.
As a result of their lack of ethics and principles, they ended up hurting not only the economy as a whole, but themselves and their companies as well. The reputations of their companies were hurt, and the weak economy and falling stock prices of the other sectors of the economy hurt their performance and stock prices as well. Those executives should have been given strict guidelines for what business practices are ethical and which ones are not. They should have also been told of the harms that can come upon a company and its nation’s economy as a result of unethical actions.
Comments
Posted by: Daniel Jurek
Posted on: November 6, 2005 10:19 PM
Once these executives made the decision to act unethically, there was little that could stop them. I doubt lectures, seminars or anything will prevent their desire to take that gamble. Understanding this, how do we protect the soverignty of free markets while enforcing laws that protect us and the economy?