Is Business Ethics Vanishing?

Is Business Ethics Vanishing
Are there in this world businessmen adhering to l values in the transaction of business? At a time globalization is moving at a rapid pace erosion in ethics is also rearing its ugly head everywhere. Unethical practices prevailing in one part of the world get transmitted to another part easily. Either no lesson is leant for corrective action or the nefarious/shameful practices are imbibed and this goes on .It subscribes to the belief that business has become synonymous with duplicity and deceit. Enron and Anderson revealed how mega corporate frauds are encouraged and executed. The result is business catastrophe. The business community globally should think over these setbacks and find out a lasting solution for restoring credibility in their operations and philosophies. If this is not done the incentive for upholding ethical values in business will dwindle. Firms strictly following a code of ethics will be at a serious disadvantage and they will pull down their shutters due to inability to face unhealthy competition.

Many firms strive hard to make quick money and to earn name and fame. They adopt unethical practices to boost their business temporarily. While they rise sky high they also crash land with a greater velocity making recovery impossible. Millions of shareholders lose, financiers incur heavy loss and society is impoverished.