Ethics in Modern Business Management Essay Example | Topics and Well Written Essays - 500 words

Ethics in Modern Business Management - Essay Example The business entities are now highlighting the social responsibility acts to elevate their social status as a brand. The regulatory authorities are also making the laws more stringent to accommodate global acceptability of firm. Thus organizations are indirectly provoked to participate in eco-friendly initiatives. The organizations, keeping in view of recent debacles with the companies like Aurthur Anderson and enron started focusing on the building up the ethical standards internally with the help of legal authorities. Sarbanes-Oxley is the most vital tool formulated to monitor the transparency and accountability of organizations in the US. The standards formulated are clubbed with the stringent sanctions, criminal and civil laws. The organizations were made mandatory to disclose the key driving management classifications in the organizations. The minor and major process concerns are to be highlighted to the public through the regular release of financial statements. The audit and key decision making responsibilities were levied on the CEO and CFOs of the organizations. These management processes were now more legally authenticated with respect to macro and micro business environments. Federal Sentencing Guidelines for Organizations: US federal laws & judges have formulated regulations under which the small (SMEs) and medium scale organizations are monitored with respect to the c