Code Of Hammurabi Essay

Words: 443
Pages: 2

In the 18th century B.C. an ethical code called the Code of Hammurabi set about to introduce ethical business practices into the culture at the time (Mitchell, 2009). Even though ethics was debated and establish that long ago the world continues to struggle with ethical issues occurring in modern society. Karl Marx, a famous economist, stated ethical issues in business are caused by an inherent greed that exists within all humanity (Mitchell, 2009). Whatever the reason for ethical lapses in business, they exist and continue to plaque the business community. Ethics has been defined by laws, religion and community beliefs in fairness and appropriate practices (Mitchell, 2009). Additionally, to sum up the term, whether found in religion or law, ethics stands as a basic code that …show more content…
If a customer is unhappy with the company they will not purchase their product leading to a loss in profits. Moreover, the reverse is true, if a customer feels that a company is ethical they are more likely to purchase their produces (Mitchell, 2009). Additionally, unethical behavior can cause other issues that lead to a loss in money. A business may make an unethical decision that they think saves money, which later turns out to cost them. In 1965 Ford created a vehicle with serious design flaws merely to try and compete with the growing market (Mitchell, 2009). Although the creation of the vehicle worked on getting a marketable vehicle to the sales floor, the design flaw later cost Ford 49.5 million dollars later in lawsuits. Therefore, unethical decision can cause a business environment that will set a company up for future failure. Ethics, law and the right thing to do are difficult to assess and will continue to be debated (Mitchell, 2009). However, it still remains that ethical decisions are vital to the reputation of a company which directly affects its revenue and future