MBA 515: Legal and Ethical Issues in Business

Assignment on
Picking five out of ten myths and giving my notions in terms of rejection,
acceptance or just observation

Prepared For:
Dr. Tanvir A. Khan
School of Business
Independent University, Bangladesh (IUB)

Prepared By:
Syed Zubayer Alam
ID # 0420007

Date of Submission
May 11, 2009

Independent University, Bangladesh

Ethics in business workplace is about setting priorities to moral values for workplace and
ensuring the alignment of behaviors with corresponding values. Several myths have thrived
about practicing business ethics. Some come up from general confusion and others arise from
narrow views of ethical dilemmas.

Picking five out of ten myths and giving my notions in terms of rejection,
acceptance or just observation

Myth 1: Business ethics is more a matter of religion than management.

I reject this statement for several reasons. First, all religious ethics is not the same or I can
refer that ethics is not specific considering different religion. For example, Jews are always
concerned about individual welfare in exchange of any activity. Moreover, fundamentalists’
motivations are misdirected form the original code of ethics of their religions though they
claim that they chosen the right way. Secondly, management can strictly authorize ethical
practice in business. So, directions from religious ethics are no longer required for business
ethics. Thirdly, business ethics are not meant to change people’s belief of their own religions
because two of them are different.

Myth 2: Our employees are ethical so we don’t need attention to business ethics.

I reject this statement for some reasons. First, ‘all my employees are ethical’ this statement
does not guarantee that the employees are not doing wrong or will not be doing wrong. It
might be emerged when all the employees have moral values in the same direction. This
results a situation where nobody is blaming anybody. But this is not business ethics.
Secondly, ethics is not only the responsibility of employees, but also a burden of employers,
stakeholders and other business users. Unlike the employees, if the others are not ethical, then
business ethics might not work. Thirdly, any organization cannot depend on benchmarked
‘honest’ employees. Organizations should monitor every employee’s actions. Because,
honestly is not a permanent human nature.
Myth 3: Business ethics is a matter of good guys preaching to the bad guys.

I reject this statement for some reasons. First, this is not a universal solution to resolve any
conflict of interest or confusion in workplace environment unless the leaders have good
morals and their subordinates are following them without hesitations. So, this theory is only
applicable on single situation only. But ethics in business are responsibilities of all sorts of
business users. Secondly, being a good person does not restrict individuals become bad
person especially in a hostile or confused situation. So, there is always a possibility that a
good person takes wrong steps. Thirdly, ethics is a thing which is not to be taught but to be
practiced or be retained practicing.

Myth 4: Ethics cannot be managed.

I reject this statement though rarely ethics become unmanageable but most time it is
manageable. If it is enforced or supported by laws, regulation and rules even democratic
cultures which can bind individuals to behave ethically. A good leadership can enhance the
management of ethics.

Myth 5: Our organization is not in trouble with law, so we are ethical.

I reject this statement. Not necessarily a firm which is not facing lawsuit or providing
litigations to its claimants is not doing anything unethical. Because everyone is not supposed
to claims its unethical behaviors. There are lot actions which may not be forbidden by law. If
a manufacturing company is damaging environment but nobody is hurt for that, it is still
doing unethical actions. Moreover, widow dressing financial statements, depriving
stockholders values, compensation policies which is poorly aligned with employee tenure,
confining critical information to users is unethical behavior. A company might not break law
for these actions unless specified.