Ethics in Business Essay - 3147 Words

Introduction Ethics in business is important of everyday moral and ethical norms to business. Perhaps, the Ten Commandments from Bible come to mind as an example of morality that still used by many today. These commandments carry concept of being truthful and honest, and try to stay away from theft and greed. An idea of stewardship can be found in the Bible as well as many other religious literatures that can be and have been applied to business. Beside religion, philosophy also carries similar ethical traditions. For example, Plato’s main theme of Republic is justice, and Aristotle in his Politics cares model of economic relations, business and trade. Today, Business Ethics is the conduct that businesses carry in†¦show more content†¦FACTs of WA-MU Washington Mutual Bank, aka WA-MU, was organized in September 1889 to help provide funds for rebuilding Seattle after the great fire. Washington Mutual became the largest thrift in the US, and one of its largest banks. From that beginning, Washington Mutual has grown into financial services company that offered services in mortgages, credit cards and retail landings. â€Å"But if its rise was storied, its fall was spectacular, ending in the largest bank failure in American history to date† (The New York Times, 2010). Sadly, Washington Mutual Bank, or WA-MU, was seized on Thursday, September 25, 2008. In April 21, 1982, Washington Mutual acquired Murphey Favre, Inc. and Composite Research Management Co. WA-MU decided to keep on the firms executive vice president, Kerry K. Killinger. Kerry was elevated to the position of president in 1988 and chief executive officer in 1990 (The New York Times, 2010). Kerry’s leadership brought new strategies to the company. According to The New York Times (2010), in July 1996, Mr. Killinger engineered the purchase of the 158-branch California-based American Savings Bank, a $1.4 billion deal that nearly doubled the size of Washington Mutual, instantly making it the third largest American savings and loan. Financial centers were redesigned, exchanging the traditional banking atmosphere for that of a departmentShow MoreRelatedBusiness Ethics : Ethics And Business943 Words   |  4 Pagesdiscussions in Business is Ethics. Some people believe that the decisions businesses make in interest of the business has no place in ethics and that they are essentially amoral. These businesses believe that their main objective is to simply make a profit and that it does not affect the success of the business. Whereas some businesses believe that they have to take ethics into consideration, in order for their business to be a success. Richard T. De George (1999) states that ethics and business do notRead MoreThe Ethics Of Business Ethics1471 Words   |  6 PagesReview Nowadays, the concern for business ethics is growing rapidly in the business community around the world. Business ethics are focused on the judgment of decisions taken by managers and their behaviors. The issue regarding these judgments is the norms and cultures that shape these judgments. Business ethics are concerned about the issue, how will the issue be solved and how will it move ahead along the transition analysis as well (Carroll, 2014). Business ethics can be addressed at differentRead MoreEthics And Ethics Of Business Ethics1304 Words   |  6 PagesBusiness Ethics Varun Shah University of Texas at Dallas Business Ethics Morals are a crucial part of life. Without having principles one would never be able to distinguish the right from wrong and good from evil. Just as it applies to life in general, ethics is an integral part of doing business as well. 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We are going to talk about three sections of morals Behavioral morals, Bounded ethicality and last one is irreconcilable situation. As from the names of these parts of morals, its verging on clarifying the significance of it. It clarifies why great individualsRead MoreThe Ethics Of Business Ethics Essay2711 Words   |  11 PagesBusiness Ethics Business ethics is a type of professional ethics or applied ethics which examines moral problems and ethical principles that come up in a corporate environment. It is applied to every aspect of conducting business. According to Milton Friedman, a company has the responsibility to generate as much revenue as it can while still conforming to the basic rules that society has set. These rules include the ones embodied in customs as well as in law. 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