Business Ethics: Ethics And Ethics In Business

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"O that a man might know the end of this day's business ere it come!" (William Shakespeare, Julius Caesar, Act 5, Scene 1) Introduction: In business world, profit and ethics always clash as business is for self interest and ethics are not about self it is about benefits and interests of other people. It is common to hear in business world that business is for profit making and it has nothing to do with ethics i-e business is business and ethics are ethics and businessmen have no or little concern with the ethics. Due to pressure of competition and greed of earning more and more profit the advocates of free market say ethics have no nothing to do with business.1 A survey on 1000 companies in USA revealed that 87% of the public now is well…show more content…
Since the last decade of twentieth century this industry expanded rapidly mainly because they were buying outdated plants and also profit was on a rise through called disciplined management practices by the employers. During these years McWane was found violating the safety precautions on four different times and their many employees were killed and almost 95% of them were injured on work. The melting metal and pipes were extremely dangerous but the owners were so greedy for profit that the safety of the employees was sacrificed and the owners were not answerable to anyone. Later the industry reduced the number of the employees by almost half and started to demand more production from the remaining workforce. An OSHA later described that many workers of the industry have huge scars on face which can noticed from many feet distance and burns are frequent. Later this was headlines in all big national newspaper but instead of improving safety standards McWane responded with a lie that they did not put profit ahead of employees safety and environmental…show more content…
Although now the incidence of child labour is on a decline but in 2004, the number of child labour was almost 218 million7. The greed of more and more profit pushes business owners to find cheap labours and they child labour is cheapest of all. In India and Bangladesh, Textile and garments business is on top and child labour is easily available. Employers in these countries make fake promises with the girls that they will pay them good, and even if employers do not make such promises girls themselves are ready to work on low wages. A recent report on child labour in South India revealed that recruiters convince parents to send their children to work on promise that they will give the good money, education and a lump sum payment after three years, but the reality is they are working and living there like slaves on low wages(Josephine Moulds, The

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