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Real-world examples of common ethical problems in business Essay

In business, managers and owners decision must comply with regulations and government standards of business ethics, (Trevino and Nelson, K, 2007).  One example, a well-known company that has a tremendous product that needs a particular chemical to complete the product.  The company has employs hundreds of employees, which has sustained the stability of the community with jobs, health care   prosperity.

However, the Environment Protection Agency (EPA) must approve all chemical additives before a production of a product. The company mentioned has a particular chemical that has not been approved by the EPA but the company chemical analyst received news that the chemical approval from EPA in three months.

This dilemma for the owner must decide between his personal morals and ethics or his business ethics to resolve this problem that has occur. The owner awareness of the matter must comply with EPA regulations and the stamp of approval for the use of the chemical or will he go on with the production to avoid financial hardship to his employees.

Another case for personal use of ethical behavior within a business, an accountant adheres to business policy and procedures of accounting practices of disclosures of company financial records. The accountant is require to use only the assigned accounting software for the confidentially of company records, (Professor Barbato & Professor Palanski, May 2010).  On the other hand, the accountant personal accounting structures is not scrutinize as much because it is personal finances. Personal and business procedures have its limitation of disclosure. As an individual and a professional, ethical standards will apply disclosure of any information business standards.

In conclusion, it is interesting to reflect on the differences between personal and business moral and ethical behaviors.  Though different yet coincided with one another it demonstrates positive outcomes within each business and workplace structured. Ethical and moral awareness should portray the positive aspects of reinforcement that will encourage others to model the good morals and behavior within the workplace for the 21st century.

References:

Trevino, L. and Nelson, K (2007). Managing Business Ethics. Retrieved from Trevino, L. and

            Nelson, K, Organizational Ethics and  Social Responsibility.

Professor Barbato, and Professor Palanski, (2010, May 12). What is the difference between

personal ethics and professional ethics?. “Institute for Business Ethics and Corporate

Social Responsibility

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