Ethics in Business World imporant. Ethucs required in business which help to improve business and quality of the organization.

Ethics in business world. It tells about importance of ethics in business and if unethics causes series problems.

1. Ethics in Business World Ethics has become a big focus in business because bad behavior can cause serious problems. For example, many banks, like Bank of America and Lehman Brothers, collapsed or needed help because they gave loans and credit to people who couldn’t pay them back. This led to a financial crisis that affected many people.

2. Ethics in Business World Unethical actions can also lead to jail time. For instance, Bernard Madoff cheated people out of $65 billion, and Stewart Parnell, a CEO, sent out contaminated food that caused a deadly salmonella outbreak. Both were sent to prison. These cases show that unethical decisions can hurt companies and people, which is why being ethical is so important in business today.

3. Ethics in Business World 1. Globalization: When companies work in different countries, they face different cultures, making it hard to keep the same ethical standards. Example: In the Pegatron factory in China, where iPhones are made, workers faced long hours and pay cuts. 2. Economic Pressures: In tough economic times, companies may act unethically to keep profits up. Example: Tesco and Fiat Chrysler lied about their profits and sales.

4. Ethics in Business World 3. Scrutiny and Risks: People and agencies are watching companies more closely. Breaking rules can lead to lawsuits, fines, and jail time. 4. Enron Scandal: Enron hid its debts, leading to bankruptcy and a big financial scandal.

5. Ethics in Business World 5. Other Corporate Scandals: Volkswagen: Cheated on emissions tests. Toshiba: Lied about earnings. Amazon: Criticized for a stressful work environment. 6. Bathsheba Syndrome: Powerful people may act unethically because they feel they can do anything. 7. Ethical Dilemmas: Edward Snowden: Leaked government secrets, seen as a hero by some, a traitor by others. Mark Lillie: Warned about dangerous airbags, but his company ignored him, leading to deaths and injuries.

6. Most common forms of employee misconduct Type of employee misconduct Percentage of surveyed employees observing this behavior in the workplace Misuse of company time 33 Abusive behavior 21 Lying to employees 20 Company resource abuse 20 Violating company Internet use policies 16 Discrimination 15 Conflicts of interest 15 Inappropriate social networking 14 Health or safety violations 13 Lying to outside stakeholders 12 Stealing 12 Falsifying time reports or hours worked 12

7. Quiz 1. Why has ethics become important in the business world? a) To increase profits b) Because the risks of unethical behavior have become more serious c) To create more jobs d) To avoid taxes

8. 2. Which financial institutions are mentioned as examples of those that collapsed or needed bailouts? a) Google and Facebook b) Bank of America and Lehman Brothers c) McDonald's and Starbucks d) Amazon and eBay

9. 3. What unethical action did Bernard Madoff commit? a) He created a new product. b) He cheated his clients out of $65 billion. c) He donated millions to charity. d) He invented a new technology.

10. 4. What was the consequence of Stewart Parnell’s unethical behavior? a) He won an award. b) He was promoted to CEO. c) He was sentenced to 28 years in prison. d) He received a bonus.

11. 5. What happened because of Stewart Parnell’s actions at Peanut Corporation of America? a) The company became very successful. b) A salmonella outbreak killed nine people and sickened over 700 others. c) He started a new company. d) The company expanded internationally.

12. 6. What lesson can be learned from the examples of unethical behavior in business? a) Unethical decisions can lead to serious negative consequences for organizations and individuals. b) Unethical behavior is always rewarded. c) Companies should ignore ethics to focus on profit. d) Ethics is not important in business.

13. Why has ethics become important in the business world? Answer: b) Because the risks of unethical behavior have become more serious Which financial institutions are mentioned as examples of those that collapsed or needed bailouts? Answer: b) Bank of America and Lehman Brothers What unethical action did Bernard Madoff commit? Answer: b) He cheated his clients out of $65 billion. What was the consequence of Stewart Parnell’s unethical behavior? Answer: c) He was sentenced to 28 years in prison. What happened because of Stewart Parnell’s actions at Peanut Corporation of America? Answer: b) A salmonella outbreak killed nine people and sickened over 700 others. What lesson can be learned from the examples of unethical behavior in business? Answer: a) Unethical decisions can lead to serious negative consequences for organizations and individuals.

14. Quiz 1. Why has ethics become a major focus in the business world? a) To improve company profits b) Because the risks of unethical behavior have increased c) To attract more customers d) To follow new regulations

15. 2. Which company faced issues with workers’ conditions in China? a) Volkswagen b) Takata c) Pegatron d) Toshiba

16. 3. What unethical action did Tesco admit to? a) Cheating on emissions tests b) Overstating its profits by $400 million c) Hiding debts and losses d) Ignoring safety regulations

17. 4. What is the Bathsheba Syndrome? a) A condition where companies overstate profits b) A type of accounting fraud c) A situation where powerful people act unethically due to their power d) A stress-related issue in high-pressure work environments

18. 5. What was Edward Snowden known for? a) Cheating on emissions tests b) Leaking classified documents from the NSA c) Overstating company earnings d) Warning about faulty airbags

19. 6. What did Mark Lillie warn about in his role at Takata Corporation? a) The use of faulty software in cars b) Dangerous airbag propellant causing explosions c) Incorrect emissions data d) Overstated financial earnings

20. 7. What was a result of the Enron scandal? a) Increased profits b) Bankruptcy of the company c) Higher employee turnover d) Development of new safety regulations

21. 8. Which company admitted to overstating earnings by more than $1.2 billion? a) Fiat Chrysler b) Tesco c) Toshiba d) Amazon

22. 9. What major issue did Volkswagen face? a) Misleading financial statements b) Defective airbags c) Cheating on emissions tests d) Poor working conditions

23. 10. What was a common theme in the corporate scandals discussed? a) Success and growth b) Unethical behavior and its consequences c) Increased customer satisfaction d) Improvements in safety standards

24. Why has ethics become a major focus in the business world? b) Because the risks of unethical behavior have increased Which company faced issues with workers’ conditions in China? c) Pegatron What unethical action did Tesco admit to? b) Overstating its profits by $400 million What is the Bathsheba Syndrome? c) A situation where powerful people act unethically due to their power What was Edward Snowden known for? b) Leaking classified documents from the NSA What did Mark Lillie warn about in his role at Takata Corporation? b) Dangerous airbag propellant causing explosions What was a result of the Enron scandal? b) Bankruptcy of the company Which company admitted to overstating earnings by more than $1.2 billion? c) Toshiba What major issue did Volkswagen face? c) Cheating on emissions tests What was a common theme in the corporate scandals discussed? b) Unethical behavior and its consequences