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As such, unethical business practices usually reflect the values, attitudes, beliefs and behaviour patterns of the organisational culture. The Relationship Between Academic Dishonesty and Unethical Business Practices. However, it is weighted heavily toward those sociological circumstances. ethical issues, or to be precise, unethical challenges faced by citizens of all societies. Some unethical practices that harm the employers include low wages and unsafe working environment. 1. The symptoms of the problem are merely firing the managers and leaders attempt to quell on an everyday basis. You are free to use it for research and reference purposes in order to write your own paper; however, you must. … Some companies will present false statements to the investors to clarify why they cannot afford to pay the dividends. Hill, A. justify particular practices or rules within the world of business. Unethical business practice can destroy business's reputation and possibly lead to legal troubles (Rahman, 2008). The company would meet the full payments of hunting excursions and all sorts of luxuries to win the doctors, and force them to promote some unapproved drugs. In the GlaxoSmithKline case, the company promoted its unapproved antidepressants for human consumption (Thomas & Schmidt, 2012). Regardless of how effective their drugs would be, informed customers will tend to shy away from purchasing their drugs. The court can order the suspension of the company’s activities for a considerably long period. Essentially, any practices that make the employees uncomfortable in the work place are unethical, as they do not comply with the federal working standards. This category includes knowing a co-worker is conducting personal business on company time. Boeing's Board had independent directors in the majority. Here are ten companies that have engaged in terribly unethical business practices and are, fortunately, being called out for it. With globalization, companies are trying their best to reap maximum profits and outweigh their c… The executives confront the employees; they pay then low wages, and increase pressures in the work environment (Hill & Plimmer, 2013). Following are some of the activities that come under the ambit of unethical practice. It was so embarrassing that G4S was unable to supply enough security guards in a contract that would earn it massive profits during the 2012 Olympics. In most businesses, at least one business practice is done in an unethical manner. We will write a custom Term Paper on Unethical business practices and their effects specifically for you for only $16.05 $11/page. – Resorting to dishonesty, trickery or deception. This paper will give a stringent analysis of the various unethical business practices and the effect that they have on the organization. that business is inherently bad), or that it is, at best, amoral (i.e. However, some businesses are too greedy to allow the other parties to enjoy some good profits. With globalization, companies are trying their best to reap maximum profits and outweigh their competitors’ profits at the expense of the global economy. – Distortion of facts to mislead or confuse. They have done irreparable damages to their stakeholders. Some companies release chemical pollutants into the air or into water bodies. Of course, you cannot avoid what you don’t know. Moreover, the companies should adhere to the corporate social responsibility policy that obliges companies to honor the surrounding environment and the people in it. 2.1k Views. We utilize security vendors that protect and The executives of such companies protect their brand names, and they fight to maintain the company’s reputation through corruption. Katharine Jones. All business people aim at gaining a competitive advantage over their competitors to win the trust of many customers. Once consumers know that a company employs unethical business practice in their operations, the effects are inerasable. 1. However, cases have occurred where company executives hide some controversial information from the most important stakeholders of the company. Companies would spend millions of dollars to employ strategies that would enable them to enhance their sales. The Underlying Causes of Unethical Business Practices Since the business practices of concern involve organizational behaviours and interrelationships, it is important to understand the relationship between consumers, 8. retailers, tour or wholesale companies and government regulations. The executive may receive merciless jail terms and finally, the company may end up becoming bankrupt because of the high costs associated with unethical business practices. Understanding and managing organizational behavior (6th ed.). Today, on occasion, you can’t tell the difference between an employee and a customer coming from the beach. "Unethical business practices and their effects." The company was also well-known for the values and ethical code of conduct it had laid … Of course, new investors would never buy the shares for such companies, and the company’s activities may come to a spontaneous halt because of the lack of funds. Unethical business practices are likely to have adverse consequences to the organization. They are unacceptable because they go against the principles of morality. G4S is at the risk of destroying its reputation; therefore, the future of the company is at risk. The New York Times. That is why, the purpose of this article is to identify information technology impacts as ethical issues on society especially its individuals. IvyPanda. However, greed has led the present businessscenario towards unethical business practices, legal complications and generalmistrust.Code of EthicsLot of organizations implement the code of ethics in their company polices, whichthey implement during induction and regular training. Unethical Business Practices Directions: Ethics are the basis for good and honest business practices all over the world. Unethical business practices and their effects. In the contemporary world, businesses that comply with the rightful ethical conducts are decreasing drastically. Therefore, emphasising on both ethics and compliance is crucial for businesses. "Unethical business practices and their effects." Further investigations indicated that the company lured the doctors by enticing them with luxury trips and spa treatments. unethical behavior. It is noteworthy that G4S operates in third world nations that have rampant corruption and fraud cases. Global Journal of Management and Business Research Volume XVII Issue IV Version I. Y ear ( ) A. You may also like . There is a very high possibility of the G4S executives in such nations to be drawn into unethical practices that may further portray the company’s incompetency. Therefore, companies that are practicing deceptive and unethical sales practices should know that their practices would tore the company down in a matter of seconds. Moreover, company executives evade form paying the taxes using the false statements. The company has a motto of delivering excellent services and maintaining the highest level of ethical standards. Technologies LLC, a company registered in Wyoming, USA. In the case of molesting the investors, the company places itself at a high risk of lacking investors in the future. 2. 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