Asked by matthew guardanapo on May 22, 2024
Verified
Discuss the current state of business ethics in the twenty-first century.
Business Ethics
The principles and standards that determine acceptable conduct in business organizations.
- Analyze the current state of business ethics in the 21st century.
Verified Answer
YL
Yunying LiangMay 24, 2024
Final Answer :
The twenty-first century ushered in a new set of ethics scandals, suggesting many companies had not embraced the public's desire for higher ethical standards. The Sarbanes-Oxley Act stiffened penalties for corporate fraud and established an accounting oversight board. The Dodd-Frank Wall Street Reform and Consumer Protection Act were later passed to reform the financial system. The current trend is away from legally based ethical initiatives in organizations and toward cultural initiatives that make ethics a part of core organizational?values.
Learning Objectives
- Analyze the current state of business ethics in the 21st century.
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