Simply put, to me, business ethics is a code that the producer will not put the consumer in harm’s way. However, business interests and consumer interests clash more often than not. This can lead to horrible results and, often, the consumer is taken advantage of. Financial institutions during 2007 gave subprime mortgage loans an AAA rating (banks told investors that loans given out for houses were safe risks) when they clearly weren’t. When these loans eventually defaulted, investors lost billions, and the world economy plunged into a recession. Now not all violations of ethics result in global economic crisis, but all damage the well-being of the clients and customers; the most unnerving and disgusting offense involves nominee for the most hated person of 2015, Martin Shkreli.

Yes, between the fraud and blatant arrogance, Martin Shkreli not only screwed over his esports team (dailydot.com) but also aids patients in the US when he rose the price of the drug Daraprim by more than 5000%. Both are unethical, but price gouging is not illegal (except when in a state-of-emergency); the market allows for this, a failure of capitalism and privatized healthcare. This example of poor ethics closely parallels the gouge in Epipen this year. However, these situations are far too common. Yes, most businesses take advantage when they can, such as the horrible case of a Starbucks during 9/11 charging first-responders $130 for 3 cases of water. Don’t believe me? Starbucks already sent out an apology to ambulance workers (you can read about the story here and here). The fact is that every large company has done bad things before and it seems like you will have to in order to succeed.

But it doesn’t have to be like that. Everyone in class is trying to fix the world, to help people, at least that is what they say. The truth is that we won’t know if we will change the trend or become a part of it; we haven’t made a big business ethical decision before. This is not suppose to damper the dreams of all college undergraduates, only test them and challenge them to go against the tide. My view of business is that it is suppose to be mutually beneficial and trust must be established, which follows my definition of business ethics. We cannot be like Martin Shkreli, Heather Bresch, the manager of that Starbucks I’ve mentioned, Honda, Enron, Bernie Madoff, or Jordan Belfort if we are to create a better world.

Works Cited

Chappell, Lindsay. “Honda’s Dirty Secret of Bribes Finally Came to Light.”

Automotive News. N.p., 8 June 2009. Web. 02 Oct. 2016.

<http://www.autonews.com/article/20090608/OEM/306089766/hondas-dirty-secret-of-bribes–

finally-came-to-light>.

 

Https://www.facebook.com/jacobatordinance. “Martin Shkreli Allegedly

Owes Tens of Thousands to Former Players and Associates in

Esports.” The Daily Dot. N.p., 01 Feb. 2016. Web. 02 Oct. 2016.

<http://www.dailydot.com/esports/martin-shkreli-esports-owed-salaries/>.
Mikkelson, David. “Starbucks Charges 9/11 Rescue Workers $130

for Water.”Snopes. Snopes, 25 Apr. 2008. Web. 02 Oct. 2016.

<http://www.snopes.com/rumors/starbucks.asp>.
“Starbucks Apologizes for Charging Rescuers for Water.” USA Today.

Gannett, 25 Sept. 2001. Web. 02 Oct. 2016. <http://usatoday30.usatoday.com/news/nation/2001/09/25/starbucks.htm>.