BUSD-1005 Business Communications II

Ethics in culture and business practices in United States

From the study published by Freeman, Parma & Martin, (2020), it has been observed that ethics is an essential component for a business that helps them to improve their brand image and further retain the brand position in the market.

Issues might be relatively easy to deal with

Technology & privacy practices are relatively easy issues that can be dealt by the workers or managers (Kane, 2018). This is because, upgrading technological infrastructure can help the firm to minimise this ethical issue and retain their business operations.

Issues might be difficult to deal with

Lack of health and safety among the workers can cause major setback to the business as it might lead to severe employee turnover. It is analysed that employee safety plays an important role for conducting effective business practices. Thus, inability to focus on effective human resource practices can lead to major ethical issue in the business practice.

Additionally, lack of ethics in accounting practices is often found in many small businesses of United States that can lead to economic challenges (Kane, 2018).

Issues that might be deal-breakers

Workplace harassment as well as discrimination in the workplace can be a deal breaker for many businesses (Kane, 2018). As the nation is comprised of many immigrants and foreigners who belong from different European as well as Asian countries. Hence, workplace harassment or discrimination (race and gender) can create a long-term impact to many businesses operating in the United States.

References

Freeman, R. E., Parmar, B. L., & Martin, K. (2020). BUSINESS AND ETHICS (pp. 129-140). Columbia University Press.

Kane, E. J. (2018). Ethics versus Ethos in US and UK Megabanking. Journal of Financial Services Research, 53(2), 211-226.

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