Business Ethics Article Review: Bribery Case In Wal-mart Store

Business ethics can be seen as morally accepted principles, practices and policies that directs the way the corporate and individuals conduct themselves. Crouch (2012) mentioned that business ethics is a principled approach to determining what is right and wrong, and then doing what is right. The corporate values address potential controversies such as business governance, corporate social responsibility, and insider trading among other. This topic analysis will be discussed in detail with the guide of article named “keeping your nose clean: A look at ethics in the workplace”.

Article Summary

This article noted the unethical behavior of bribery in Wal-Mart store that occurred in 2005 for the warehouse in Mexico which finally was exposed in 2012. Some of the effects of the corruption allegations were; first, the company incurred a penalty of $4.5 billion. Secondly, the stock prices dropped as well as the company's market share. Thirdly, the reputation of the firm was tarnished, and they had to appoint former KPMG executive Tim Flynn to assist the company to win the trust of the shareholders. The author went in details and identified several issues; first, the employees are determined by the conduct of the top executive. Therefore, the seniors express that the profit earned are better than integrity, to compare the way their employees are treated. Secondly, in the global context, the corporations that get into business treaties with a nation that values bribery as an exchange need to clearly explain to employees what it means to conduct themselves ethically. As this said, the ethic in the workplace needs to be distinguished to enhance efficiency and avoid consequences of breaching the ethical regulations.

The Contribution of the Article to the Contemporary Thinking About Business Ethics

The current organization culture perceives that business ethic is meant to direct employees behaviors. Secondly, the article went in detail to identify the unethical actions of senior executives in their struggle to achieve higher profits. Additionally, in the modern business ethic, the employees cover their leaders’ misconduct, hence, the reasons why bribery in the global firms has increased recently. The desire for a higher position is making many employees breach their fiduciary responsibilities. The lawyer of Wal-Mart covered the illegal misconduct of top executive of the firm through being promoted as a vice chairperson.

Ethical Issue Faced by Leaders

Bribery is the key ethical issues the leaders are facing. The Wal-Mart executives’ practiced bribery to gain a broad market share and higher profits. The leaders spend at least $24 million to settle for the premise permits, environmental reduction cost and zoning approval. This aspect is due to high profits insinuates maximization of the shareholders wealth, hence, the shareholder will be attracted to the firm’s stock market. Besides, high profits will result in considerable market share since consumers have trust in the corporate brands.

Application of the Article in My Field

This article has enlightened and provided me with vast and valuable knowledge regarding business ethic. The knowledge acquired here will improve my awareness and help me to educate my fellow coworkers regarding ethic issue since they are the leaders of tomorrow. In addition, I will provide training on ethic in my potential workplace and enhance evaluation of projects periodically to ensure every employee irrespective of the position complies with the set ethic guidelines. This knowledge practice will improve any organization policies to acquire a balance between the outcome and the courses of action undertaken.

How the Article Aligned With Ethical View

The article emphasized on letting people know what is right and the consequences of deviation from complying with the set standards. Also, the article places much emphasis on setting an example for others to follow. This due to individual behavior dictates the entire corporate conduct; thus, a morally set conduct in an organization will enhance the virtue to be exercised by all stakeholders.