Business ethics as contemporary management topic Term Paper

Business ethics as contemporary management topic - Term Paper Example The study has selected business ethics in order to understand following learning outcomes: Many companies (read Nortel, Enron, Layman Brothers and others) have suffered the ill effect of poor business ethics in last two decades hence discussing contemporary issues related to business ethics can help the author to gain knowledge about organizational sustainability. Business helps the organization to build sustainable representation in front of their stakeholders. Unethical business practice creates a negative impact in the mind of both shareholders and stakeholders. In many cases, it has been observed that government of a particular country takes legal action against organizations practicing unethical activities such as bankruptcy, fraud, misrepresentation of financial asset or fraud. Legal action against unethical organizations not only perturbs sustainability of them but negatively impacts shareholder’s interest. Studying business ethics will help the author to understand the importance of organizational sustainability in terms of financial perspective. Many companies of USA have understood the importance of business ethics hence they have created ethical assistance lines for stakeholders to report the ethical concern about the business practice to them. The following diagram will show an increase of concern related business ethics in recent times. There is a vast gap between ethics and self-interest in the business practice. Many business executives emphasize on self-interest in order to fulfill personal prosperity instead of doing business for the betterment of society.