Contemporary Business Term Paper Example | Topics and Well Written Essays - 2000 words

Contemporary pedigree - Term Paper ExampleBusiness moral philosophy concept has been used by many academic scholars to distinguish between successful and unsuccessful organizations. academician scholars believe that business estimable motive can not except ensure organizational but bonus sustainable business growth also. Rationale behind Selecting Business Ethics as Contemporary trouble Topic The study has selected business morals in effect to continue further analysis. Business ethical motive has emerged as an important guidance issue for companies in recent time. The study has selected business ethics in order to understand following learning outcomes Many companies (read Nortel, Enron, Layman Brothers and others) have suffered the ill effect of distressing business ethics in last two decades hence discussing contemporary issues related to business ethics can help the authour to gain knowledge about organizational sustainability. Business helps the organization to build sustainable representation in front of their stakeholders. Unethical business practice creates negative impact in the listen of both piece of groundholders and stakeholders. In many cases it has been observed that government of a particular country takes legal activeness against organizations practicising wrong activities such as bankruptcy, fraud, misrepresentation of financial asset or fraud. Legal action against unethical organizations not only purturbs sustainability of them but negatively impacts shareholders dissembleest. Studying business ethics bequeath help author to understand importance of organizational sustainability in terms of financial perspective. Many companies of ground forces have understood importance of business ethis hence they have created ethical assistance lines for stakeholders to report ethical stage business about business practice to them. Following diagram will show increase of concern related business ethics in recent times. (Source Ferrell, Fr aedrich, and Ferrell 222) Business Ethics There is a bulky gap between ethics and self interest in the business practice. Many business executives emphasizes on self interest in order to fulfil personal prosperity instead of doing business for approach of society. Objective of Business Ethics In 2003, Hooker has pointed out that main objective of business ethics is to create a guideline for companies to compete and sustain in the market without getting involved in financial fraud or any kind of deception. Importance of Business Ethics in Business Environment Reseach scholars have defined business ethics in multidimensional manner in order to cover broad spectrum of the topic. Hooker and other reaseach scholars have pointed out following guidelines for business ethics. Companies need to material body a fair and transparent fair incentive and remuneration system for top level management executives in order to draw a clear picture of the company in front of share holders. Companies need to emphasize on maintaining interst of shareholders because they are the key drivers to maintain sustainibility of any organization. Companies should implement transparent inter level business practices in order to refrain employees to commit fainancial fraud and perform in conformation with industry standards. Leading companies should not manipulate industry standards in order to create entry obstruction for small firms. Companies should not involve in price discrimination because price discrimination not only perturbs industry equilibrium (read oligopolistic