business ethics essay
Besides the moral code of wrong and right, business ethics also relates what the business should legally do with gaining a competitive advantage over other organizations in the market. A perfect example of corporate business ethics is transparency (Trevino and Nelson, 211). When the organization is transparent, there exist trust and confidence, not only between the business and the external stakeholders but also between the employees and the managers as well.
Reporting the mistake during the annual general meeting is the most significant step to the pharmaceutical organization’s success. Option A by the company will allow the employees to report issues that may arise within the company. Implementing the decision will increase transparency for you to avoid negative consequences. Reporting helps not only the company but also the employees to gain trust from the owners of the company.
The intern acted according to corporate ethics for the achievement of the common goal of the organization. Business ethics define that transparency and openness are some of the essential keys to the success of any business organization. Transparency ensures that the information provided is accurate. Failing to report the errors would only mean that the organizational culture lacks transparency and any employee fears to communicate when they make a mistake. It would also mean that the organization has poor leadership. The two factors create a good relationship in the organization and between the business and the external stakeholders such as the government. Forging accounting information can lead to considerable losses to the company, especially if the government finds out and imposes huge penalties for misconduct.
Also, if the public knows that the company provides forged information, the name of the organization can be spoilt, which can lead to poorer perforce because of the loss of customers and investors as well. Besides, if the company knows the root causes of its poor performance, the owners can come up with strategies. Taking option B can result in adverse outcomes from employees and the company’s owner. Choosing not to report errors may have you losing significant investors and damage the reputation of your whole firm as well. Failing to report the issues can also have the employees sacked due to incompetency at work.