Critique on Business Ethics by the Harvard Magazine

Critique on Business ethics by the Harvard Magazine
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Introduction
Business ethics or what is commonly referred to as the corporate values refer to the professional models of behaviors or the applied ethics at the places of work. In many cases, these moral values have come under serious scrutiny due to the failure by some of the employees or even the employers themselves to practice them. It should always apply to the conduct of not only the employees but also the organization as a whole. In the Harvard Magazine dated 29th May last year, the magazine talks about the problem of pay in the companies. The article talks about the concerns regarding compensation for the chief executive officers and the top management staff officials within the organizations.SummaryThe magazine claims that since the economic meltdown six years ago that was brought about by the financial crisis, most of the American top public corporations have neglected the issue of reimbursing their hardworking and industrious junior employees but they pay the senior officials enormous amounts of money. The paper claims that this matter has been even made worse by the recent recession in the economy. The magazine goes ahead to point out that these allegations have been made numerous times by other sources such as the top business scholars in the country, individual stakeholders, the business media and policymakers. No tangible action has been taken to rectify the situation. The amount of money that these top officials receive is too much compared to what the junior staffs receive, this will set a dangerous pattern for the upcoming executives who will always expect the same trend to continue.
CritiqueThe critics of this practice point out two issues as the greatest points of concern. One, the current crop of top executives in the leading American corporations is paid too much. Secondly, the...