Do people really follow the codes of ethics in business?

Question

It seems that the only way to be successful in business is to be sneaky. I have heard a lot of shady things business men had done just to become successful. Is there really a code of ethics in business?

Answer 1

Many companies have their own statement of principals. Many follow the Rotarian 4-way test:

Of the things we think, say or do:

Is it the truth?
Is it fair to all concerned?
Will it build goodwill and better friendships?
Will it be beneficial to all concerned?

When you are in business, your integrity is your greatest asset, and your most easily damaged one. So, having an ethical code of conduct is very practical and can keep you out of trouble.

Answer 2

Do people follow codes of ethics in business?
Yes, they do. Like almost everything else in business, if it promotes longevity, continuity and prosperity-bearing traits ... it will be abided by. If it doesnt promote these things, than there is no (real) "business" and thus also no need for any code of ethics.

Is there really a code of ethics in business?
What needs to be understood though, is that the Code's perspective is more from a business point of view(business is business) than of humanities. So if a person is not really business minded and/or doing business with others not likeminded in business, its safe to say that there wont be much of a code of ethics in business (between them). The level of mutual agreement on a business ethics code depends on the likemindedness of the people doing the business. So the answer to the question above is "Yes". And whether or not people will stick to it, well, .. read the answer to the first question.

Answer 3

Sure there is a code of ethics. And many successful people keep that code. But what you have to remember is that those people you see who are the most successful are really hungry for money and success. Those who are really hungry will do whatever it takes, and sometimes what it takes is breaking or bending as they call it that code of ethics. So yes there is but many people like to bend it. Not to mention that ethics are partially defined by the individual as well as the community.

Answer 4

Of course most of them do, but you don't hear about them cause you don't get on the front page by doing whats right normally. Bill Gates is a pretty honest man, and owners of snapple or hot topic or whatever. . . .

However, a code of ethics in business also means you have to be smart in business. And sometmes that may call for unfair adv. that small business may not have. Such as finding out what your compettion has to offer. I don't really think in business thats unethical, thats just how the game goes. . .

Answer 5

Not really. Just take a look at the recent business scandals from Worldcom to Enron. I doubt if the business leaders ever follow thier own business ethics.

Answer 6

Yes, many business leaders follow codes of ethics. Any leader, in order to be considered a good leader, must be an effective and moral leader. Ethics is at the heart of genuine leadership. Unfortunately, partially due to media attention, focus is usually placed upon those who are unethical. Why? Because it sells!

There are many great leaders doing great things out there. If we wish a realisitic view of the world and its events, it is our responsibility to pressure the media to do so by not buying in to what they usually feed us... exploitation and hype.

Answer 7

Yes they do! Don't believe everything you read in the main-stream press, on T.V. and in the movies regarding how corporations operate. There are plenty of businesses who have very high ethical standards along with all of the their employees. There is no larger portion of dishonest business people than there are Union Leaders, Politicians, Educators and hourly paid employees.

Answer 8

There's supposed to be, but unfortunately these days, it seems like all of the people in the spot light are there because they have somehow tried to "stick it to the man." I wish it wasn't like that, because it gives all of us aspiring business people a horrible role model. I'm studying to be an accountant, but I'm not planning on cheating my way to the top. Hopefully, there will still be plenty of good, honest people left out there when I enter the working world in about a year.

Answer 9

Well, if you think about it, everyone follows their own code of ethics. However, we as humans tend to do what we want to believe is right rather than what actually is right. For example, a person might want it to be right to cheat others so that he or she may wrongfully gain from them, so that person decides that doing that is okay for them in that situation. (That, by the way, is called moral relativism.

Answer 10

No. Codes of ethics are so vague that it is usually impossible to tell whether a corporation is complying with them or not.