Business ethics issues in the movie “Boiler room”
Business comprises principles and standards that guide behavior in the world of business.
Stakeholders-investors, customers, interest groups, employees, the legal system, and the community often determine whether a specific behavior is right or wrong, ethical or unethical. Judgments of these groups influence societys acceptance or rejection of a business and its activities.
Every business has a social responsibility toward society. That means to maximize positive affects and minimize negative affects on the society.
Social responsibilities includes economic-to produce goods and services, that society needs at the price, that satisfy both-business and consumers, legal responsibility-laws that business must obey, ethical responsibilities-behaviors and activities that are expected of business by society, but are not codified in the law, philanthropic responsibilities-represent the companys desire to give back to society (charietys, volunteering, sponsoring).
Ethical issues in business arise because of conflicts between an individuals personal moral philosophies and values and values or attitudes of organization in which a person works and a society in which one lives. Ethical issues can be identified in terms of the major participants and functions of business. Ethical issues related to ownership include conflicts between managers duties to the owners and their own interests, also separation of ownership and control of business. Financial issue includes, for example, the accuracy of reported financial documents. Ethical issues can acquire between manages and employees, then employees are asked to carry out assignments they consider unethical.
Consumers and marketing issues are related to providing safe desired products for a fear price and not harming people and an environment. Accountants also face ethical dilemma, they have to deal with competition advertising commission. All of this places the accounting profession in situation of ethical risk.
Ethical issues are also classified, as conflict of interest-when person has to choose between his own interests and companys interests. Communications-false and misleading communications can destroy costumers trust, for example, false advertisement, hard sell etc. Technology issue refers to both costumers and organizations.
Using technology many businesses invade consumers privacy, by collecting an information, on the other hand, in organizations employers can obtain private information about their employees, and there is always honesty issue-what is fear and what is not. Issues related to fairness and honesty often arises in business, because many participants believe that business is a game or o warship and has his own rules.
The movie Boiler room was a good example of the company, which doesnt believe in such thing as business ethics.
In the beginning of the movie we see our main character running a home casino, which is not legal, but it is not such a big ethics issue. I think gambling is just passing time just like other hobbies. Nobody was promoting it or forcing people to come and gamble.
Costumers chose to come themselves and had a good time, nobody was complaining. There was the only problem, the establishment was illegal, so the ownerput himself to risk, and if he will get caught he will go to jail. In my opinion, this part of the movie did not have business ethics issue.
I think all the problems began then our guy started the new carrier as a broker in unknown brokerage firm. The institution there he started his carrier as a stock investment broker had no such thing as business ethics.
The place did not look right from the beginning.
First of all bosses where rude to employees. While interviewing candidates manager was very ignorant to his staff members. I dont think that employers should treat their employees this way, on the other hand all guys accepted it, which shows, that they dont have much respect for themselves and will do anything for money.
In the ordinary company this behavior wouldnt be tolerated, it would raise conflict between management and employees. Allthough nobody was talking back to the manager they where all shocked and probably afraid to be faired. The manager was using psychological pressure to keep everybody under control, to avoid unwanted questions.
Company was hiring uneducated and inexperienced people, which is very unusual and makes you think, about companys activities and policies.
While unwritten companies .