What is Business Ethics?

Published: 2021-08-05 15:55:05
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Category: Business

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This week’s wiki video refers to a very interesting topic, because of the topic we touched on the discussion, which is corruption. Business ethics as a simple definition being the study of the morality when speaking of business, it intertwines with the topic of corruption and integrity within the workplace, would you do something unethical in the company if you were certain you weren’t going to get caught?
Business ethics is the study of the progress, moral standards and policies of how business is conducted, a lot of factors are involved when defining this concept, but ultimately all business ethics are outlined by the law. It seems pretty straight forward, but at time it seems to be a bit confusing or open for interpretation which makes it hard to understand and of course apply.
A very important topic is touched in the video, fair play and equal employment opportunities, women’s issues mainly, specially the gender wage gap. Which in America the wage gap still exists, but for a number of reasons and variables that are not caused by men, we find ourselves in a business world where women and men in the same position, experience, and qualifications get paid exactly the same. The reason, or variable that creates that gap is choices, most men choose to go to school for degrees that ultimately pay more, or men without a professional certificate choose blue collar jobs that are more dangerous, which translates into a higher pay.
When it comes to other countries, specially overseas, find themselves with some challenges mainly due to their culture and religion, which resembles to how the U.S. was over twenty years ago. Let’s not forget about the child labor exploitation, and low wage problems.
In conclusion, business ethics refers to a set of rules or laws in a professional setting, that entail to treating employees with fairness, being responsible as a company for policies put in place, being transparent with the employees, and overall respectful.

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