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Managing Business Ethics Issues

What is business ethics?

Explain at least three ethical issues within today's business environment that affect your community and organization.

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Financial/Economic Crisis:

Crises in the global economic and financial landscape reached seemingly biblical proportions?

- Two major global investment banks, Bear Stearns and Lehman Brothers, collapsed.

- Facing bankruptcy, the world's largest insurance company, AIG, Freddie Mac, and Fannie Mae were bailed out by taxpayers.

- The biggest bank failure in U.S. history occurred when federal regulators seized Washington Mutual.

- The Dow Jones Industrial Average, a stock market index, has plunged by more than a third this year, decimating retirement funds and college savings.

- Rates of unemployment and home foreclosures have skyrocketed.

- U.S. Congress passed a $700 billion bailout to try to revive the credit markets and the larger economy.

These developments in the United States have spread throughout virtually all major world economies.

In the wake of this global economic crisis, some of those responsible were summoned to testify under oath before Congressional committees to explain to the public what caused this collapse. What they said opened a ...

Solution Summary

This solution discusses the concept of business ethics in a detailed 729 word response, including several references listed throughout. An analysis of issues in business ethics and past financial crises and problems, particularly in the United States, are mentioned.