Why Study Ethics?
After you read this resource on why ethics matters, you should have a good understanding of why ethics is important in business and define the reasons for good ethics in business.
Ideally, prison terms, heavy fines, and civil suits would discourage corporate misconduct, but, unfortunately, many experts suspect that this assumption is a bit optimistic. Whatever the condition of the ethical environment in the near future, one thing seems clear: the next generation entering business - which includes most of you - will find a world much different than the one that waited for the previous generation. Recent history tells us in no uncertain terms that today's business students, many of whom are tomorrow's business leaders, need a much sharper understanding of the difference between what is and isn't ethically acceptable. As a business student, one of your key tasks is learning how to recognize and deal with the ethical challenges that will confront you. Asked what he looked for in a new hire, Warren Buffet, the world's most successful investor, replied: "I look for three things. The first is personal integrity, the second is intelligence, and the third is a high energy level". He paused and then added: "But if you don't have the first, the second two don't matter".
Source: Virginia Tech, https://vtechworks.lib.vt.edu/handle/10919/70961
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