...Running head: ethics in business Ethics in Business Arline Moberg September 03, 2010 MGM365-1003B-01 Phase 2 (IP): Ethics in Business Colorado Technical University Online Professor Piermatteo Introduction Principles, morals, beliefs, moral principles, moral values, moral codes are all synonyms for “ethics.” Encarta Dictionary: English (North America) defines ethics as a system of moral principles governing the appropriate conduct for a person or group. On page 118 of Pearson Custom Business Resources: the Legal and Ethical Environment of Business states that “ethics can be defined as the principles of conduct governing an individual or a group.” It has been two weeks ago when Logistics and Services Corporation (LSC) fired two top executives for failing to meet company standards. My research discovered that these two executives were fired for taking bribes from an outside corporation to buy certain products [ (CTU, 2010) ]. My hopes are that this document explains: 1. What do ethics in business means? 2. Why or why not is it ethical for executives to accept bribes and an inducement to buy another business’ products? 3. Why are ethics and social responsibility important in the business world? Ethics in Business A company who has ethics in business means the company does not have to do business from day to day in hopes of not getting caught and being fined. Ethics in business means that there are no wrong doers (employees) within the company that may...
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