Business Law 1 Discussion Board Week Three

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Business Law 1 Discussion Board Week
Business ethics is termed as “the study of proper business policies and practices regarding potentially controversial issues, such as corporate governance, insider trading, bribery, discrimination, corporate social responsibility and fiduciary responsibilities (Fred & Dana, 48).”Every business is run and governed by ethics that may either be provided for by the industry of locale they operate in, or their internal standards.
When it comes to ethics, the main issue is the moral judgment of the individual, whether their decisions are right or wrong. When decisions are taken within a firm, they are either made individually or by a group of people, say a department. However, despite the independent decisions, the culture of the organization influences the process. Ethical behavior is morally upright, and it is up to the employees to settle on the most ethical and moral decisions there are in every course of action. Sometimes, it is even necessary to forgo the route with the most short-term returns. There are three main ways to resolve ethical dilemmas, namely the Blanchard and Peale Test, the Front-Page-of-the-Newspaper Test and the Laura Nash Model (Twomey et al., 20)
Consumerism is the “set of activities of government, business, independent organizations, and concerned consumers that are designed to protect the rights of consumers (Fred & Dana, 55).” Public policies have for years been based on the basic consumer rights there are in the market.

The researchers in the business market have been on the application of consumer behavior principles, all which provide a platform for bettering the lives of consumers.
Some of the common ethical breaches include “fraud or deceptive practices, unprofessional subversion conduct, scope-of-practice violations, being unfit to practice, improper management of business records and the violation of state laws, federal laws, or regulatory rules (Fred & Dana, 51).”
Works Cited
Fred W. Morgan and Dana I. Avrunin, “Consumer Conduct in Product Liability Litigation,” Journal of Consumer Research, June 1982, pp. 47–55.
Twomey, David P., et al. Anderson’s Business Law and the Legal Environment. 22nd ed., Cengage Learning, 2017. Retrieved from https://berkeley.courseload.com/#/content-36823/address/79