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Proffesional Values and Ethics Essay

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Below is an essay on "Proffesional Values and Ethics" from Anti Essays, your source for research papers, essays, and term paper examples.

With the huge fall in the stock market at the end of 2008 came a call for investigations, prosecutions, and further government restrictions on the investment banking industry. These investigations showed Company Executive Officers of a few large banks, which were failing, taking triple figure bonus’ and luxurious vacations even after the businesses they were trusted to oversee were in bankruptcy and their stockholders had lost vast amounts of money. At the same time, the largest “Ponzy Scheme” in history was revealed as a trusted financier, Bernie Madoff, stole nearly sixty five billion dollars from investors and was later sentenced 150 years in prison. Circumstances like these prove the importance, as well as the fragility, of ethics in business.
Most people in the United States place their trust, money, and future into the hands of banks, investors, and businesses.   With so much on the line, the question arises if it is possible to have true ethics when it comes to business.   Author and management consultant, Peter Drucker, posed this question in his book The Ecological Vision. He did so not to say that ethics is not possible in business, but to ensure that “business ethics” was not distinguished from every day “ethics”. Drucker said that it is convenient for executives to dismiss violations of policy or regulations by claiming it could create more jobs or generate wealth in the future.   It “becomes a cost-benefit calculation for them”. The problem with this outlook is that what is wrong, is wrong regardless of whether money is made and jobs are saved or not. Violating laws, regulations, or simple “proper behavior” in the long run only leads to failure (Wartzman, 2008, 1,2).
      One of the biggest factors in ethics is the issue conflict of interest. A famous quote about the United States Justice System is “justice is blind”. In fact the Statue of Justice has her eyes covered by a blindfold to indicate that she is beyond influence by anything other than the...

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