Tylenol case and the Ethical Issues

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It is the duty of the business fraternity to practice and promote ethical business practices to avoid violation of human rights . This will be demonstrated in the moral behavior of the management while carrying out their responsibilities in their respective institutions . Ethical awareness is fundamental and therefore should be given priority , as it is a social responsibility in the world of business . Corporate governance has also been on focus because of increased cases of fraudulent activities as well as breach of contracts on

the part of business partners and other investors . Good governance and understanding of business ethics promotes trust in the senior executives and lead to growth of business . These are contributing factors to strategic planning and improve on skills to attract and retain good business relations Ethical business practices serve to attract potential customers and prevent losses that may come as a result of legal settlement in a court of law . It also protects a business from incurring losses and other expenses in compensations and other liability issues (Clarence and Ronald 1998

There are important elements that support business and this is in terms of qualified personnel and ethical leadership being practiced at the place of work . This is coupled by ethical decision-making skills that link the business world to the society that is being served . Employees are an institutions greatest asset and their concerns and needs should be looked into . Employers and employees should therefore understand the need for their commitment and put all efforts that helps accomplish their personal and business goals and those of the society at large . The parties should uphold high standard practices that comply with the laws and regulations that are set on each business set-up . A professional code of ethics is laid down and acts as a guideline to proper conduct discipline and the responsibilities that go with the profession . The conduct of business operators and the stakeholders is within a certain limit . In this they can execute their duties without causing any disruptions to the workers and the community as a whole

Various operations in a company may lead to enforcement of law and sometimes may have criminal penalties on those that break the law . There are federal and state laws that have major concerns on safety , criminal violation and the status of a company 's business as a public company . It is of ethical concern that companies should provide a conducive environment for workers as well as safety measures put in place

Good business practices is a result of combined efforts of professional values and ethics that help to judge and solve issues in an ethical manner with an interest of the society at heart and in respect to the profession . The success of a business does depend on the aims and objectives of the entrepreneur but further more , it is of great importance that the practices involved are justifiable on an ethical ground (Clarence and Ronald 1998

A product for example , captures great...