Unethical Business Practices

Need a research paper on what do we mean by unethical business practices. Needs to be 8 pages. Please no plagiarism. It will start by explaining the meaning of ethics so as to gain a clear understanding of what unethical business practices mean. This will be followed by an outline of some of the unethical business practices whereby real-life examples of such practices will be drawn from different cases.

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Basically, ethics are moral values and principles that determine our conduct in the business world and are concerned with distinguishing between something that is good from bad (Rajeev 2010). It also refers to commercial activities, either with other business houses or with a single customer. Thus, the basis of ethics is firmly rooted in the value system and it is the obligation of every business to ensure that they operate in society hence the need to ensure that they do not violate the welfare of the people living in these societies. Being socially responsible is mainly concerned with producing and selling goods and products that are not harmful to the consumers and it is the right of the customers to expect to get quality products and services all the time. However, today’s business world is characterized by stiff competition and for a firm to remain viable, it must make adequate profits but this does not entail using unorthodox or unethical means as is the case with other businesses.

Rajeev (2010) posits to the effect that the financial sector is awash with cases of violation of the norms by the individuals to amass wealth in an unethical manner. Some of the activities that can be characterized as unethical business practices include the following: resorting to dishonesty or deception, distortion of facts to mislead or confuse the consumers, greed to amass excessive wealth, lack of transparency, harming the environment for financial gains, lack of privacy as well as sexual discrimination. It can be seen that the economic crisis particularly of any given country is owed to unethical business practices such as corruption.

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