One of the main ethical issues that companies face is one of social responsibility. By changing my company to one that is socially responsible would allow it to be viewed in a more positive light. Some efforts we could take would include volunteering time and making donations to local and national charitable organizations, such as The March of Dimes, Juvenile Diabetes Relief Fund, and the Susan G. Komen Breast Cancer Foundation. Each year, each of these organizations sponsor major fundraising efforts that provide assistance with research and financial assistance to families affected by these afflictions. By aligning my company with these organizations and becoming a major contributor, we can project a more positive light on our organization and help to change our image.
Another major issue that we would need to address and change would involve the ethical responsibility of our executives. We would need to work diligently to ensure that scandals like those at Enron and WorldCom don't take place in our organization. We would need to fully comply with the Sarbanes-Oxley Act of 2000 to thwart against creative accounting, bribery, kick-backs and insider trading by executives that would negatively affect the company, causing negative press, possible government fines, and even possible dissolution of the company. Use of an outside auditing agency, not directly related to our investment activities, would assist in preventing these types of events from happening.
Another important ethical issue we would need to address would be in our production and marketing. Our main focus on the production side would be to ensure that the products we sell and the production processes do not cause harm. There is usually a degree of danger in any product or production process, but we ...