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Organizations Employee Standards
QUESTION
Organizations should take measures to ensure that they employees that they hire exhibit the highest standards of ethics and moral standards. Discuss
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Business |
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2 |
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APA |
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Answer
Organizations should take measures to ensure that they employees that they hire exhibit the highest standards of ethics and moral standards. Different articles have been written providing case scenarios of the lack of ethics in the actions of different employees of organizations. One of those is that by Hope, Davies and Kowsmann titled “Wirecard’s Adventure-Seeking No. 2 Was Key to the Firm’s Rapid Rise. Then He Disappeared” and published in the Wall Street Journal. This article argues that Jan Marsalek, one of Wirecard’s long-time chief operating officer, is suspected of engaging in unethical business practices that resulted in the loss of $2 billion by the organization (Hope, Davies and Kowsmann 2). After the discovery of the loess, Marsalek not only stopped responding to messages from colleagues but also disappeared. The ethical dilemma that I have identified from the article is that of balancing between the need for organizations to make profits while also engaging in ethical business practices. Although Marsalek was responsible for the rise of Wirecard, he engaged in shoddy and unethical deals which culminated into the disappearance of $2 billion in cash. The applicable ethical theory applicable to this case study is that of deontology. Notably, according to the deontological perspective, the morality of actions s based on a set of rules as opposed to the consequences (Baumane-Vitolina, Cals, and Sumilo 108). In the current case, Marsalek’s actions were unethical because they went against the ethical standards required of business organizations. Despite the fact that he led to increased profits for Wirecard, Marsalek’s business practices were wrong and unethical. The implication of the moral dilemma presented in the present case study is that Marsalek’s unethical business practices which led to a loss for his organization would lead to the fall of the company and massive losses for the investors/shareholders.
References
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Baumane-Vitolina, Ilona, Igo Cals, and Erika Sumilo. "Is ethics rational? Teleological, deontological and virtue ethics theories reconciled in the context of traditional economic decision making." Procedia Economics and Finance 39, 2016: 108-114.
Hope, Bradley, Paul J., Davies and Patricia, Kowsmann. “Wirecard’s Adventure-Seeking No. 2 Was Key to the Firm’s Rapid Rise. Then He Disappeared.” Wall Street Journal, 2020. https://www.wsj.com/articles/wirecards-adventure-seeking-no-2-was-key-to-the-firms-rapid-rise-then-he-disappeared-11593798856
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