Business ethics is the practice of making responsible choices that do not break the law and established social conventions.
Poor business ethic would include selling cheap, poor quality products and making a profit off unknowing consumers, and furthermore putting the consumer’s health at stake.
An example that demonstrates poor business ethics is the business of gutter oil, a term used to describe any illegally recycled oil. Though highly profitable, the production and sell of gutter oil raises the question of business ethics. Such oil is harmful to the consumer’s health, and long term consumption can lead to cancer.
To make things worse, the business of gutter oil not only does it impose health hazard to the consumers within a country, in this case China, but it also tarnishes the reputation of China in the international community. To put this into perspective, a major international company could be looking to open up a new factory in China, but after hearing about so many of the food safety scandals, they might be dissuaded from making that investment.
This is not just a local issue, it is a matter of business ethics that could have major impact on the health of thousands and potentially millions of inhabitants and the image of China in the international community. Chinese authorities should continue their efforts on eradicating such social ills and stopping these unscrupulous businesses.
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