Examples of unethical business practices to avoid include failing to pay employees for their work, accepting bribes from other parties in exchange for specific actions or using unfair or unsafe labor practices in manufacturing plants. Other examples include various types of financial fraud as well as sexual harassment and discrimination against employees and associates.Continue Reading
One common unethical business practice involves a company refusing or failing to pay the wages of its employees. This may include stopping paychecks after the employees complete the work, forcing them to work off the clock to avoid issuing payment or modifying other rules to disqualify employees from collecting other money. These process are illegal and can result in significant fines as well as other legal actions.
Accepting bribes is also illegal and unethical, as it compromises the integrity of the business. Bribes may appear in the form of financial incentives, physical gifts or the promise to provide other services. Similarly, it is unethical to accept any form of compensation for exclusive knowledge about a company, such as plans for a new product or the date of a public offering. These actions can also qualify as other forms of illegal activity that could result in jail time.
Operating unsafe work environments is also unethical, as is choosing foreign and domestic manufacturing plants that do not offer employees fair compensation.
Harassment and discrimination is also unethical because it circumvents the employee's merits and skills and places and unfair and inappropriate emphasis on other characteristics.Learn more about Managing a Business