Unethical And Unlawful Business Practices Essay

1542 Words Nov 22nd, 2014 7 Pages
Comparing Unethical and Unlawful Behavior in Corporate Scandals

The primary focus in any business in the corporate world is to make a profit and to satisfy shareholders. Now how a business goes about making a profit and satisfying shareholders determines if the organization is practicing business ethically and lawfully or if they are not. Determining if businesses are conducting themselves in an ethical and legal way is extremely important in analyzing the affect shareholders have in a company’s progress and the roles they play in the competitive market. Although unethical and unlawful behavior seems to be almost identical, they often are quite different from one another. The differences are often small minuet things, such as, one is a direct action that is illegal to do while the other is just morally wrong to do. Even though the differences are small, many business practices are often impacted in the same way for both wrongdoings.
Before going into the similarities that unethical and unlawful business practices share, it’s important to understand the true meanings of ethical and unethical business practices along with how they coincide with business law. We often hear the word ethics used in everyday conversation, but what does it truly entail? The definition of ethics, according to thefreedictionary.com, refers to it as “the rules or standards governing the conduct of a person or the members of a profession” and “a theory or system of morals” (Definition of Ethics,…

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