Business Ethics

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Business Ethics

Karl Claudio
Composition GE-117

Business ethics is a form of applied ethics or professional ethics that examines ethical principles and moral or ethical problems that arise in a business environment. It applies to all aspects of business conduct and is relevant to the conduct of individuals and entire organizations. The economy these days is at a low point for many consumers in United States. Due to the economy, prices are getting higher, many people’s income is decreasing, and unemployment is very high is little increase of newer jobs. Because of this many companies are becoming bankrupt or losing a lot of profit. People are becoming more careful on what they spend their money on. Business today faces the pressures of being successful and profitable, so this often makes companies become more and more unethical. They are being unethical by making financial risk and but not being fairness on pricing. Small businesses cannot compete with larger corporations, so small businesses are falling. As we quote Tom Jacobson senior executive, Pricing & Profitability Strategy of Accenture, states that:”Even though consumer purchasing behavior has been slow to change, retailers need to watch out for the possibility of a delayed reaction to rising prices from food shoppers. So while it appears that business can make small price increases, they will need more cost mitigation to hold onto their customers and maintain profits.” Since the price for gas has increased, everything else had become more expensive. Few larger corporations care more about profit, than trying to help their community by lowering their prices. This is an ethical issue, because they care more about making more money other than helping their customers in moderating their prices. In economy this is also none as inflation, is a rise in the general level of prices of goods and services in an economy over a period of time. When the general price level rises, each unit of currency buys fewer goods and services. Consequently, inflation also reflects erosion in the purchasing power of money, which is a loss of real value in the internal medium of exchange and unit of account in the economy. Inflation's effects on an economy are various and can be simultaneously positive and negative. Negative effects of
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