The Legal Environment of Business

The Legal Environment of Business Name: Course: Professor Name: (February 27, 2012) .  The Legal Environment of Business Ethics refers to the drive or motivation on ideas on what is right or wrong. It incorporates moral values and rule of law. Business ethics term is applied in different contexts and means differently to organizations. Business ethics history has been in existence for many decades and scholars interpret it with variations (Fieser, 2011). Business ethics has been associated to the recent developments especially in the nineteen seventy periods. The second meaning of business ethics is related to scandals and corruption deals that raised the necessity of a working environment endorsed by accountability. The third image of business ethics refers to the movement of systems within organizations (George, 2010). It is believed that business ethics is in form of structures relating to ethical codes, ethical hackers, ethical officers, ethical training and ethical committees (Michael, 2006). Business ethics in the Post-Enron Era listed the responsibilities of the American government and the responsibilities of the American businesses. The collapse of Enron specialty is evident to have exposed moral decay in America (McGraw, 2007). There are numerous scandalous episodes in the American businesses. This has raised the need to reform the ethics in the American businesses today. The government leaders and the organizational leaders have the responsibility of installing business ethics (Fieser, 2011). This will enable business corporations in America have a predetermined code of conduct, increasing transparency and trust between the involved stakeholders. Business ethics enhancement will enable customer’s satisfaction. Enron earthquake has swept away the confidence in the public. This has altered the operating systems of the capital markets of America. Capital markets are considered the heartbeat of the American economy. Enron earthquake has pushed people out of businesses due to lost investments and massive layouts. This is a loss beyond imagination in the American history (George, 2010). The retirement security and investments worth millions of dollars has been tampered with illegally. This has made the topic of business ethics substantially critical in the American businesses. Conflict of ethical values and shareholder values is critically addressed. Enron collapse led to the breach of trust (McGraw, 2007). Organizations and the business entities of America have the responsibility of turning the scandals to net gain for the sake of consciences, economy and the American country. Enron earthquake has destroyed the America name in the business context. This has brought in the need to reform the corporate ethics in the American business today (George, 2010). Many states of America including the Washington state are sorting out things after the Enron disaster. The Senate Governmental Affairs Committee is at the stages of fully addressing the Enron disaster in a way that it will not occur again (McGraw, 2007). The Federal Government must set policies that will enforce business ethics in the American businesses. This will assist in safeguarding the plights of the American workers four hundred and one K plans. Federal...