Top Business Ethics Cases of 2016

business ethics cases

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Practicing Professional Business Ethics

Business ethics is the study of business situations, activities, and decisions and the practices and policies that guide them. Case study writing ethics in business help to develop trust with consumers and generally benefit companies.

Conversely failure to practice good business ethics can have severe financial and legal consequences and result in loss of consumer trust as well as plenty of unwanted attention.

Business Ethics Cases Making Headlines in 2016

More and more companies are getting caught up in ethical issues, as Stephen E.Brimmer says:

“The issue of responsibility is foundational to understanding organizational ethics. It seems almost too basic to merit mention, but irresponsible behavior is so common that the obvious must be stated. Fueled by selfish ambition, greed can cause leaders to lose perspective and rationalize unethical behaviors. The bad news for offenders is that society is more alert than ever before to ethical recklessness that benefits some, while injuring others.”

Although the year is not yet over there is no shortage of business ethics scandals in the news. The following are a few of the notable business ethics scandals that have made the headlines this year:

  • Mitsubishi mileage: Mitsubishi admitted in June 2016 to falsifying data to make mileage appear better on 20 models that were sold domestically between 2006 and 2016. Mitsubishi Motors Corp.’s headquarters and Nagoya plant were raided in early September after reporting that more of its vehicle models were involved than originally stated.
  • Wells Fargo: Wells Fargo employees created around 2 million unauthorized bank and credit card accounts secretly without their customers knowing it. The accounts were opened by bank employees to reach sales targets and receive bonuses. In the last few years Wells Fargo has fired 5,300 employees involved in the scheme
  • Mylan/EpiPen: Mylan increased the price of EpiPen by 461 percent from $56.64 in 2007 to $317.82 in 2015. Over the same span of time Mylan CEO Heather Bresch’s total compensation increased 671 percent from approximately $2.45 million to $18.9 million
  • Volkswagen: The issues with Volkswagen which became a big story in 2015 are still in the news. This story has had plenty of attention because of how well known Volkswagen is. Another reason is because they weren’t just caught bending the rules. They flat out lied to both regulators and customers
  • Martin Shkreli: Martin Shkreli, the CEO of Turing Pharmaceuticals bought a company that made a life saving drug and immediately raised the price from $13.50 to $750 per tablet. Shkreli has since been arrested for fraudulent activity unrelated to the price increase.
  • ITT Technical Institutes closed their national chain of career schools after 50 years. This has created a debate over the federal government’s aggressive policing of for profit higher education.
  • MasterCard: A legal case has been brought against MasterCard in Britain seeking $19 billion in damages for allegedly charging excessive fees. As many as 46 million people may have been affected.
  • Luminosity: Lumos Labs was fined $2 million by the Federal Trade Commission for false advertising. The company made false claims about the app being able to help prevent Alzheimer’s disease and help users to perform better in school.

Ethics course are now included in most business programs and there is an increasing demand for people with a background in the area. Some ethical issues are clear cut while others will require analyzing a number of different and sometimes conflicting considerations. So it’s always better to ask case study writing services for help.

If you are having problems analyzing and writing about business ethics cases you may want to consider getting professional help from a service similar to the one our company provides!

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