Myrril Lynch on Unethical Business

Finally, personal opinion concerning ethical decision-making processes in a business is considered. Ethical decision making is a procedural undertaking that when a company integrates into its activities, brings about customer satisfaction and retention of the potential target group. Utilitarian, rights, fairness, common good and virtue are the critical ingredients of ethical business behavior in which if these components are missing, then unethical business operation exists (Vitez, 2017). Introduction Business ethics constitutes the moral code of conducts and principles that regulate behaviors in a business environment. Its application can be realized either within a single business premise or with other businesses that interact with an organization (LaFollette, 2013). In an organization, management trustworthiness is appropriate, and any employee who is entrusted with the company's capital must ensure that utilization of such features is carried out in a way that puts into consideration, the future of the business and satisfaction of customers and other users and beneficiaries in the organization.

Employees' acceptability and the way they embrace the ethical conduct in an organization is very important (Weiss, 2014). For instance, management may foster positive behaviors of behavior, and if the other employees do not recognize the importance of ethics in business, then there will be massive losses suffered by the organization. The unethical business environment is influenced by individual thought, speech hearing, and communication among other parameters. Change I technology serves to disrupt business organizations both in private and public sectors. Taking other people’s interests into account enhances clarity and understanding of ideas that might mean so much to an individual. Individual responsibility and the need for the plan of life are some of the principles that an organization must consider in the business for ethical behavior.

Myrril lynch case erupted when an employee lacked ethics and robbed the bank money leaving the bank’s operation dwindling. The Wall Street Act now seeks to establish stringent rules that enhance ethics in business to avoid money laundry, corruption and higher interests charged on small companies (Bernstein & Eisinger, 2010). Lack of ethics in business reduces employee's performance since they might be concerned with working to get money rather than delivering quality services to the clients. An outstanding example in hand is the Myrril lynch bank that suffered the wrath of unethical practices in the business which led to its closure as employees engaged in money laundering processes. Nonetheless, the government intervention has served to regulate unethical business practices in every sense.

A study conducted on the performance levels and customer satisfaction recorded that most of the businesses exercise ethical behaviors in the United States, unlike developing countries where unethical business behaviors are rampant. Business regulations are equally essential, and companies must be ready to spell out their code of conducts, business principles and other relevant objectives that govern the operations of a company. Ethical decision-making processes are helpful in providing constructive ideas that lead to the reputation of the business, client satisfaction, proper relationship among the employees and realization of the profit margin of the company. Although professional recourses might have a company incurring expenses, moral business development is guaranteed in a business environment. Ethics in business is used by an organization as a tool for ensuring managers and all other employees are responsible for their actions in different business situations.