Ethical issues are defined as the problem caused by a dilemma between two moral imperatives where none of the two is acceptable or preferable. In essence, the dilemma is caused by the necessity to ensure that values are adhered to and that there is adherence to standards set by the organization or external governing bodies in the business, for instance, the government or organizations such as OSHA. Fundamentally, through social responsibility, a business organization can solve social problems and benefit at the same time ( Lins et al., 2017 ). There are various ethical issues in the field of business that can be ranked differently according to how they affect the area.
Ethical Issues
One of the ethical issues that affect the field of business is health and safety at the place of work. Employers, in most cases, are expected to ensure that workers work in an environment that is not likely to cause any harm to any individual. This necessity includes common violations like protection from falls, communicating hazard, and machine guarding ( Palliam, 2018 ). The leaders of organizations in this field, for instance, those manufacturing harmful chemicals deal with the issue of health and safety by providing masks to ensure respiratory safety. In this case, employers have to adhere to regulations of OSHA.
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The other ethical issue is whistleblowing and rants on social media where one is torn between putting the company on the line and ensuring standards are followed. Social media rants are punishable in cases where the organization loses as a result of the information given by the aggrieved party where the accusations are unfounded ( Tost et al., 2020 ). On the other hand, whistleblowers must be protected and firing one would be considered victimization.
Further, employees face harassment and might be discriminated in the place of work which is ethically wrong. The US Equal employment opportunity commission (EEOC) ensures that workers are not discriminated based on their age, disability, pregnancy, religion, race or sex ( Rezaee,2020 ). However, it is essential to consider that there are instances where the organization should find age during recruitment, for example, in situations where the recruits are underage as minors should not be employed.
Accounting practices in any organization present significant dilemmas where the organization may give wrong information during auditing. Hiding information is regarded as an ethical issue whether the company is shielding itself from the consequences of its competitors, gaining knowledge of a company's financial status ( Rezaee,2020 ). Some organizations cook financial records to avoid paying taxes.
Another issue involves corporate espionage and nondisclosure of the company's secrets, especially in instances that may affect the organization's performance. Some of the problems include risks of employees stealing and disclosing information to competitors, especially after the company has fired them ( Tost et al., 2020 ). As a way to protect the organization from cases of disclosure, the employers ensure that new employees sign nondisclosure agreements. Additionally, organizations only provide information that is necessary and specific to departments to avoid issues of management and formula of production being open to all employees.
The issue of discrimination and harassment in workplaces is ranked as the most significant as it affects various aspects of pan organization, including work relations. An e4xample of these ethical issues is where a business organization might decide to fire an employee due to disability. In some cases, an employee might be involved in an accident, leaving them incapable of performing their usual during according to ADA, reasonable accommodations should be given to disabled workers. This issue is relevant to the future of the field of business as there is a need for the development of policies to ensure equal opportunities even in leadership and promotions within business companies ( Rezaee, 2020 ). Most recruiters indicate a priority to specific groups such as female candidates as a way to ensure all genders get opportunities. This fact shows how common this ethical issue is currently.
The second issue is health and safety since there is a need to ensure safe working conditions for workers. For a steady performance, employers must avoid workplace accidents and loss of workers resulting from such accidents. This protection from risks involves the provision of safety gear during work. This issue is one of the most significant issues as there is a need to look into the welfare of workers before prioritization of performance. This subject is vast as it only concerns physical harm but also psychological risks. Mental health in workplaces is a relevant consideration, even going into the future as workers need to have job security through clear contracts ( Tost et al., 2020 ). One of the problems that mental health concerns include addictions that may cause condition unfavourable for an excellent performance.
Whistleblowing is the third most significant ethical dilemma currently in the field of business. In some cases, the organization may be involved in activities that are likely to harm not only workers but consumers as well, for instance, where chemicals used in processing products are harmful to health. The revelation of such information is crucial as it will not only save the consumers but also avoid a catastrophe that may cost the organization. The OSHA protection laws such as section 11(c) that prohibits acts of retaliation against whistleblowers underscore the importance of this ethical dilemma ( Calvasina et al., 2016 ). Business leaders have the responsibility to ensure that whistleblowers are engaged in processes of correcting errors in production as well as management.
The fourth dilemma in the order of significance is the need to maintain accuracy in bookkeeping. This issue involves both the organization and employees in the accounts department who may want to conduct underhand deals to redirect company funds to personal accounts. However, it is essential to ensure regular auditing where the correct information is given. One of the main issues, in this case, is the avoidance of compliance with tax regulations where small companies file for bankruptcy to avoid taxation. The leadership of my organization the trend mark fashion company deals with this dilemma by ensuring weekly reporting of expenditure and all entries by all departments to ensure a harmonized report every month.
The last ethical issues are the issue of corpora8te espionage and nondisclosure. In some cases, an employee may give out crucial information about the company unintentionally. For example, posting images while inside the production room may provide vital information to competitors. Such actions cost the employer as the competitor gains an advantage over the organization, causing loss to the company. The signing of nondisclosure agreements ensures that the company maintains a competitive advantage over the rest of the entities. This issue is relevant to the future of the business field as there is a need to protect ideas that organizations refer to as their intellectual properties. These ideas include a formula in manufacturing industries, creative creations as well as advertising ideas. The disclosure of the information is punishable by the employer through firing or suspension ( Rezaee, 2020 ). There are instances where the management could sue the employees for giving out crucial information to cause harm to the organization.
Recommendation
Significantly, to avoid accounting issues, there is a need for the organization to employ auditors attached to the finance department. The company needs to audit itself monthly to ensure that all records entered are correct and that they add up. Alternatively, the organization may hire the services consultancy firms that may independently audit the finances and activities of the company to ensure that there is justified spending ( Harris & Sandhu, 2017 ). Also, there is a need for business organizations such as the Trend mark company to train their employees internally, especially those involved in the distribution of products and the keeping records. Such training of bookkeeping and accountability is crucial as employees will avoid errors that could interfere with account records.
There is a necessity to ensure proper compensation of all workers and leaders to motivate and inspire them to be loyal to the company. Improved compensation packages will ensure that accounts officers are not tempted to steal from the organization through forgery. Also, the proper remuneration and rewarding of performing employees will make sure that competitors do not poach them. The need for avoidance of losing talented workers to competitors is to prevent loss of information concerning the procedures of production applied in the organization ( Neesham & Freeman, 2016 ). The salaries of employees should be reviewed after two years based on the performance of the individuals. Best performers should also be promoted to retain them within the organization.
Whistleblowing and rants in social media can be managed by the formation of workers welfare department that will ensure that needs of employees are catered for. Such needs include instances where production procedures pose threats to the health of the employees ( Rezaee,2020 ). Additionally, scientific tests should be carried out on products within the organization before dispatch to the market to ensure that they are safe for use by the consumers. Apart from avoiding the occurrence of situations that require whistleblowing, the formation of workers welfare department will provide emphasis on the safety of workers.
The employer should involve all stakeholders, including subordinate employees, in the formulation of company policies that affect them. Some of the policies, such as regulation and setting of social media use limits by employees could be important in ensuring that employees avoid posting information about the company unless instructed by the management ( Harris & Sandhu, 2017 ). The involvement of all stakeholders in such a process is essential in making sure that the employees own the policies and that they are committed to the implementation of such policies.
Social responsibility is a significant way of ensuring the company's involvement in solving issues in the community where it exists. Such problems include the needs of the community members, such as the need for skills. On the other hand, involvement in corporate social responsibility earns the organization trust or consumers ( Lins et al., 2017 ). A fashion company like Trend mark may offer free training programs on skills such as tailoring to community members. Such training could help provide employment opportunities through the provision of startups by the organization for textile-related shops. Through this training, the company may absorb talented individuals to work in its textile plant or as designers who will improve the business performance of the company.
References
Calvasina, G., Calvasina, R., & Calvasina, E. (2016). Responding to occupational safety and health administration (OSHA) whistleblower investigations: Policy and practice issues for employers. Journal of Legal, Ethical and Regulatory Issues , 19 (1), 56.
Harris, H., & Sandhu, S. (2017). Effective Use of Reflection and Research Activities in Teaching Business Ethics', Responsible Leadership and Ethical Decision-Making (Research in Ethical Issues in Organizations, Volume 17).
Lins, K. V., Servaes, H., & Tamayo, A. (2017). Social capital, trust, and firm performance: The value of corporate social responsibility during the financial crisis. The Journal of Finance , 72 (4), 1785-1824.
Neesham, C., & Freeman, S. (2016). Value Creation as Business Commitment to Responsible Consumption', The Contribution of Love, and Hate, to Organizational Ethics (Research in Ethical Issues in Organizations, Volume 16).
Palliam, R. (2018). Legal and Ethical Issues In Business. The UK Edu Journal.
Rezaee, Z. (2020). Contemporary Issues in Business: Corporate Sustainability, Corporate Governance, Organizational Ethics and Forensic Accounting. NOLEGEIN-Journal of Business Ethics, Ethos & CSR , 6-9.
Tost, L. P., Hardin, A. E., & Gino, F. (2020). Divergent Psychological Consequences of Gender Discrimination in the Workplace Among Women and Men. In Academy of Management Proceedings (Vol. 2020, No. 1, p. 14772). Briarcliff Manor, NY 10510: Academy of Management.
