The Arthur Anderson, Dennis Levine and Siemens scandals are all exemplars of white-collar crime which made business ethics seem like a contradiction in terms. As fat bonuses and greed get blamed for the current financial mess, those who suffer are starting to wonder if our lack of conscience could be responsible.
Oddly enough, since the Industrial Revolution, it is actually only over the past 30 years that people have begun to view ethics as integral to doing business. Amidst growing respect for the environment, the civil rights movement and revelations of White House dirty tricks, the ’70s marked the call for greater conscience. Thus, a company with principles has become less of an oxymoron.
Now, many big players have a strong ethical framework, including Johnson & Johnson and IBM, to name a few. But many firms and individuals still view ethical considerations as optional, and some use seemingly ethical aims as mere window dressing to keep customers happy.
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