English 3100 Blog Post 1

As technology becomes more complex every day within the world of business, it is important to keep in mind the vitality of ethics.  Communicating effectively with audiences is crucial for maintaining a good business clientele relationship.  Clearly expressing ideas for a wide variety of types of individuals could mean the difference between success and failure for a business.  Therefore, every business should avoid bias and stay honest within its messages.  Also, no business should engage in any type of communication malpractice that would put any of its stakeholders at risk, i.e. shareholders, employers, employees, or customers. 

Being a finance major myself, I know very well the importance of ethics within the workplace environment.  Almost all of my business courses have stressed it.  Without ethics, businesses cannot survive.  For example, the once very large and prestigious corporation formerly known as Enron participated in unethical activities that lead to its eventual demise.  The financial/accounting firm manipulated balance sheets and other financial records to disguise its profits and hide huge losses from its shareholders.  But this long trend could not be sustained for forever, and the financial giant collapsed.  This is why we have laws set in place now to prevent such scandals such as the Sarbanes-Oxley Act of 2002.  However, even laws such as these do not prevent everything.  More recently, the other large investment firm Bernard L. Madoff Investment Securities LLC also was exposed for conducting its major financial scandal, where thousands of investors lost billions of dollars.

In the reading, I strongly agreed that the need for a code of ethics is absolutely necessary to lay out guidelines for company decisions.  For a previous course, I wrote about the need for a good mission statement, and I also interviewed the Appalachian State alum Thom Goeken, who currently works as a high-ranking manager at Bank of America, about its importance.  Goeken told me that the mission statement of Bank of America drives almost every decision of his job and keeps him in a mindset focused on the customers.  The other employees of Bank of America follow this same model, and because of this, the company is currently one of the largest and most successful banks.

Keeping good ethics is vital to the longevity of every business.  Without it, not only the business suffers but everyone else as well.

To continue this thought, what kind of laws or consequences do we need to prevent large-scale unethical business practices?

Bovée, Courtland L., and John V. Thill. "Achieving Success Through Effective Business Communication." Business Communication Today. 12th ed. Upper Saddle River, NJ: Prentice Hall. 2014. Print.