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Business Ethics Artifact Name Chapter 2 Business, Discussion Board: Chapter 2 Core Competency The student will demonstrate a working understanding of ethical standards that govern business operations and transactions and employee behavior. Last Update Chapter 2 Business and Chapter 2 Discussion Board were each worked on 8 months ago. Rationale I am including my notes from Chapter 2 Business because it gives a great explanation of what business ethics are. Business ethics are defined as the principles and standards that determine acceptable conduct in business. There is also this concept of social responsibility. A business’ obligation to maximize its positive impact and minimize its negative impact on society. This is such an important part of business. Basically, this is how a business portrays itself to the public. Are they doing the right thing? I chose to use discussion board: chapter 2 because I believe it asks us to look up a couple of businesses that are engaging in unethical practices. There are going to be businesses all over the place that may not do the right thing. As sad as it is, it’s true. Some businesses take advantage of others and get their way by doing something that is not acceptable. It’s usually up to the public to expose this but sometimes it comes from within. Knowledge I think that I took solid notes on Chapter 2 Business and really understand this concept. There are two different issues under this topic of business ethics: ethical issues and social responsibility issues. An ethical issue is an identifiable problem, situation, or opportunity that requires a person to choose from among several actions that may be evaluated as right or wrong, ethical or unethical. There are six main issues that are brought up in companies. These six are: misuse of company resources, abusive and intimidating behavior, conflict of interest, fairness and honesty, communications, and business relationships. Misuse of company resources is the leading ethical issue. This type of misconduct can range anywhere from firing workers for excessive use of email at work to unauthorized use of equipment and computer systems to embezzling of company funds. The 2nd most common ethical issue is abusive and intimidating behavior. This means physical threats, false accusations, profanity, insults, yelling, harshness, and ignoring/annoying. Now, the most common issue identified by employees is conflict of interest. Conflict of interest is whether or not to advance his own personal interests or those of others. Social responsibility is just about relations with owners and stockholders. Businesses must first be responsible to their owners, then employees, and then consumers. In the discussion board question about ethical issues, I found two that stood out to me. One that I will share is the ethical issue with Nike. Their employees went and complained to the NGO that they were working in “sweatshops”. Sweatshops are an illegal form of business operation. Nike may blame whistleblowers for this accusation. A whistleblower is Knowledge (continued) someone from within the company who goes public with the company’s wrongdoing. Whistleblowers usually expose the company by using the media or government regulatory agencies. Skills I developed business ethic and social responsibility skills. I now know what is ethical, unethical, and how to convey my business’ image in a positive manner. Growth and Improvement Statement If I had to do this project again, I honestly don’t think I would do it any differently. I certainly grew and improved as a young entrepreneur because of these exercises, though. My knowledge of this subject improved and I think I retained the most information on this topic of business ethics.