'Five Ethical Approaches for Companies\r'

'Being honest and reliable is one of the most important aspects within course ethics. The object of a business is to produce products that consumers befool faith in and have confidence that they argon getting the best deal with no mysterious inconveniences. The Markkula article gives five examples of honest decision that severally business should take into consideration when making minutes with customers or implementing a product into the market.\r\nThe utilitarian approach, celibacy approach, rights approach, fairness approach, and common good approach atomic number 18 all steps the business should practise to sire sure their brand is ethical. Companies like amazon, apple, and Wal-Mart are ethical and have prospered be pull in these companies hold everyone accountable for their actions and decision-making. Amazon has nifty policies set for the consumers with multiple low prices valuable corporal as well as Wal-Mart. Apple has a code of ethics that is set for all individ uals that reach for them. To more thoroughly detail these principles, Apple has drafted a code of business conduct that applies to all its operations, including those overseas”(Fund).\r\nEnron, Aig, and Fannie Mae Foundation are companies that did not always use ethical decision-making and therefore went under. â€Å"After 1992 Fannie Mae and Freddie Mac were boost to purchase â€Å"affordable” mortgages from banks, which essentially meant mortgages that did not straits the usual creditworthiness requirement for loan”(Congleton, 2009). Fannie Mae gave loans to anyone who basically apply thus, resulting in a major crisis in America. substantially ethics in business would be to contest fairly and honestly, to communicate truthfully and to not cause harm to others. These are things that Enron did not seem to display, which take to Enron’s operations file for bankruptcy in 2001”(Studymode 2008). Enron was convincing people do invest in insurances of their firms, but took the money and did not pay up for any claims. An unethical approach that Aig is known for is liberal Ceo and other officials of the company bonuses and vacations when they were a failing business an investor were losing money.\r\n'