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Business Ethics Essay

1108 words - 5 pages

Ethics can be defined as principles or right or wrong. Business decisions should be ethical, but the evidence suggests that is not always what happens. (Hollenbeck, Gerhert, Noe, & Wright 2004) A recent study has shown that 4 out of 10 executives stated that they had been asked to behave unethically. As a result of unfavorable perceptions of U.S. business practices and an increased concern for better serving customers, U.S. companies are becoming more aware of the need for all company representatives to act responsibly (Hollenbeck, Gerhert, Noe, & Wright 2004)
A recent article published in Tribune-Star discussed corporate ethics to university students in Indiana area. Over 370 were in ...view middle of the document...

"When a fraud starts, it never stops," Elliott said. "It gets bigger and bigger." (Foulkes, 2007)
Sarbanes-Oxley Statue (SOX or SARBOX) was another topic of discussion during the conference. Sarbox, named after Senator Paul Sarbanes (D-Md.) and Representative Michael G. Oxley (R-Oh.), is a regulation that was passed by Congress in July 2002 following the Enron, WorldCom and Arthur Anderson scandals. Public trust in accounting and reporting practices drastically decreased in the wake of these scandals. The first and most important part of the Act establishes a new quasi-public agency, the Public Company Accounting Oversight Board, which is charged with overseeing, regulating, inspecting, and disciplining accounting firms in their roles as auditors of public companies. (Wikipedia, nd) In addition, Sarbox cover topics such as auditor independence, corporate governance and enhanced financial disclosure. It is considered by some as one of the most significant changes to United States securities laws since the New Deal in the 1930s. (Wikipedia, nd)
The article also discussed how many companines were encouraged to list on the London Exchange vice New York following the passing of Sarbox. "If you're a private company, you don't have some of the compliance costs of Sarbanes-Oxley," agreed Larry Boulet, president of Boulet Consulting, who also took part in the panel discussion. (Foulkes, 2007)
As mentioned earlier, ethics can be defined as principles or right or wrong. I'm currently a member of the United States Navy and stationed in Atlanta. My command (organization) title is Fleet Logistic Support Squadron Four Six (VR-46). As a member of the United States Navy, ethics has a major impact. The Navy has 3 core values: HONOR, COURAGE and COMMITMENT. In my personally opinion, I believe that ethics would coincide with honor. At VR-46, I currently work in the Reserve Pay (RESPAY) Department and my main title is RESPAY Clerk/Order Writer and Government Credit Card (GOVCC) Manager. My responsibilities include (but not limited to) administrative work and paying Selected Reservist (SELRES).
As an Order Writer, I generate paperwork through a computer based system Naval Reserve Order Writing System (NROWS), which enables SELRES to go Temporary Additional Duty (TAD) to different locations through the country for training, schools, etc. I am responsible for ensuring that all SELRES (totaling over 200) are paid properly for any TAD that is performed.
Ethics has a...

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