{"id":14464,"date":"2020-07-07T12:11:56","date_gmt":"2020-07-07T09:11:56","guid":{"rendered":"https:\/\/www.become.co\/blog\/?p=14464"},"modified":"2021-08-30T16:47:22","modified_gmt":"2021-08-30T13:47:22","slug":"ethical-issues-businesses","status":"publish","type":"post","link":"https:\/\/www.become.co\/blog\/ethical-issues-businesses\/","title":{"rendered":"8 Common Ethical Issues Facing Businesses in 2021"},"content":{"rendered":"\n<p><span style=\"font-weight: 400;\">Being a good person isn\u2019t the same as being a \u2018good\u2019 business owner. Ethically speaking, what you do in your personal life could directly contradict what you should be doing in your role as a business owner. And vice versa!<\/span><\/p>\n<p><span style=\"font-weight: 400;\">It can get tricky sometimes, but addressing ethical issues in business is an essential step to building a strong company that will maintain a positive reputation and track record. Of course, there are some questions you might have, for example:<\/span><\/p>\n<ul>\n<li><span style=\"font-weight: 400;\">Which ethical dilemmas in business should you be focused on?<\/span><\/li>\n<li><span style=\"font-weight: 400;\">Why is it crucial to address ethical issues in business?<\/span><\/li>\n<li><span style=\"font-weight: 400;\">How can you resolve ethical problems in business the right way?<\/span><\/li>\n<\/ul>\n\n<p><span style=\"font-weight: 400;\">Lucky for you, we give the answers to these big questions &#8211; and more &#8211; right below. Read and find out!<\/span><\/p>\n\n<h2><span style=\"font-weight: 400;\">What are ethical issues in business?<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">Ethical issues in business affect a variety of aspects related to a business\u2019s general operating standards. The topic of ethical problems in business is focused on what actions a business takes and\/or what policies a business creates in its efforts to resolve ethical questions that come up.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The importance of ethical issues in business cannot be overstated, particularly in today\u2019s day and age of social movements and political correctness. All personal feelings set aside, it remains a fact that current events have reshaped current ethical issues in business and, to a large degree, have increased the focus placed on ethics in the workplace.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Establishing a code of ethics for your business to operate by will help you lay a firm foundation of basic trust between you and your employees, clients, partners, suppliers, and so on. Fortunately, the law often gives the answers to questions related to ethical issues in business (we\u2019ll touch on some examples later on), but that\u2019s not always the case. That\u2019s why every business owner should familiarize themselves with what ethical problems in business are, why they matter, and how they should be addressed.<\/span><\/p>\n\n<h2><span style=\"font-weight: 400;\">8 Common ethical issues in business and how to address them<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">It\u2019s not enough to simply know what the biggest ethical dilemmas in business are &#8211; you should also be aware of why they\u2019re considered problems and what you can do about it at your business.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Here, we cover it all. Scroll down and find out!<\/span><\/p>\n\n<p><b>Common ethical issues facing businesses in 2021:<\/b><\/p>\n<ol>\n<li><span style=\"font-weight: 400;\"> Sexual Harassment<\/span><\/li>\n<li><span style=\"font-weight: 400;\"> Diversity &amp; Discrimination<\/span><\/li>\n<li><span style=\"font-weight: 400;\"> Social Media<\/span><\/li>\n<li><span style=\"font-weight: 400;\"> Health &amp; Safety<\/span><\/li>\n<li><span style=\"font-weight: 400;\"> Environmental Responsibility<\/span><\/li>\n<li><span style=\"font-weight: 400;\"> Accounting Practices<\/span><\/li>\n<li><span style=\"font-weight: 400;\"> Data Privacy<\/span><\/li>\n<li><span style=\"font-weight: 400;\"> Nepotism<\/span><\/li>\n<\/ol>\n\n<blockquote>\n<p><b>Note: <\/b><span style=\"font-weight: 400;\">Ethical issues are even more important for startups and small businesses since their reputations are not as well-established as a big corporation might be. What that means is, if there\u2019s a lawsuit over an ethical issue at your business, the process of defending yourself could do some serious damage. It could even bankrupt your business! Take these ethical problems in business seriously and avoid the risk to your reputation and financial stability.<\/span><\/p>\n<\/blockquote>\n\n<h3><span style=\"font-weight: 400;\">1. Sexual Harassment<\/span><\/h3>\n<p><span style=\"font-weight: 400;\">More often than not when we discuss harassment at work the topic quickly shifts to sexual harassment. There\u2019s no doubt that it is an ethical issue in business that should be taken very, very seriously &#8211; and if you\u2019re not sure why then you need to read about the <\/span><a href=\"https:\/\/metoomvmt.org\/\" target=\"_blank\" rel=\"noopener noreferrer\"><span style=\"font-weight: 400;\">#MeToo Movement<\/span><\/a><span style=\"font-weight: 400;\">. While we shouldn\u2019t forget that there are many forms of harassment in the workplace, sexual harassment is one that deserves to be addressed on its own.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">According to the U.S. Equal Employment Opportunity Commission (EEOC), in 2018 alone there were more than <\/span><a href=\"https:\/\/www.eeoc.gov\/statistics\/charges-alleging-sex-based-harassment-charges-filed-eeoc-fy-2010-fy-2019\" target=\"_blank\" rel=\"noopener noreferrer\"><span style=\"font-weight: 400;\">7,600<\/span><\/a><span style=\"font-weight: 400;\"> allegations of sexual harassment made. Not only that but the resulting monetary benefits for those plaintiffs were in excess of $56.6 million &#8211; an indication of the validity of those claims.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">When we take an even closer look at this ethical issue, we find that <\/span><a href=\"https:\/\/i-sight.com\/resources\/guide-to-workplace-sexual-harassment-infographic\/\" target=\"_blank\" rel=\"noopener noreferrer\"><span style=\"font-weight: 400;\">54%<\/span><\/a><span style=\"font-weight: 400;\"> of women report having experienced unwanted sexual advances in the workplace and 23% said that the instance of sexual harassment actually involved a superior.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">These numbers paint a troubling reality and present real challenges to creating a workplace environment where people feel secure and comfortable.<\/span><\/p>\n\n<h4><span style=\"font-weight: 400; font-size: 22px;\">What can your business do about sexual harassment?<\/span><\/h4>\n<p><span style=\"font-weight: 400;\">The most important step in addressing sexual harassment as a serious ethical dilemma in business is to implement employee training. Start by making sure everybody who works for you is made aware of the rules, that those rules are posted around the workplace, and by enforcing a zero-tolerance policy for sexual harassment.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">From there, you\u2019ll want to ensure that leaders in your business are setting good examples, that you continuously monitor for inappropriate behavior, and that you provide employees with a safe and discrete avenue for reporting cases of harassment. Additionally, there should never be any fear of retaliation for reporting sexual harassment &#8211; victims, whether alleged or proven, should get your full support.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">It\u2019s also best to take preventative steps to reduce the risk of sexual harassment. That can include having employees sign agreements that they will follow company rules, not allowing the \u2018little things\u2019 to slide, by limiting the serving of alcoholic beverages during company events, and so on.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">If sexual harassment does occur at your business, acknowledge the charge, investigate the case thoroughly, respond with care, and administer discipline if need be.<\/span><\/p>\n\n<p><img decoding=\"async\" class=\"aligncenter size-full wp-image-14483\" src=\"https:\/\/www.become.co\/blog\/wp-content\/uploads\/2020\/07\/GettyImages-903715608-min-scaled.jpg\" alt=\"Ethical Problems in Business\" width=\"1024\" height=\"683\" srcset=\"https:\/\/www.become.co\/blog\/wp-content\/uploads\/2020\/07\/GettyImages-903715608-min-scaled.jpg 1024w, https:\/\/www.become.co\/blog\/wp-content\/uploads\/2020\/07\/GettyImages-903715608-min-300x200.jpg 300w, https:\/\/www.become.co\/blog\/wp-content\/uploads\/2020\/07\/GettyImages-903715608-min-1200x800.jpg 1200w, https:\/\/www.become.co\/blog\/wp-content\/uploads\/2020\/07\/GettyImages-903715608-min-768x512.jpg 768w, https:\/\/www.become.co\/blog\/wp-content\/uploads\/2020\/07\/GettyImages-903715608-min-1536x1024.jpg 1536w, https:\/\/www.become.co\/blog\/wp-content\/uploads\/2020\/07\/GettyImages-903715608-min-2048x1365.jpg 2048w, https:\/\/www.become.co\/blog\/wp-content\/uploads\/2020\/07\/GettyImages-903715608-min-405x270.jpg 405w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><\/p>\n\n<h3><span style=\"font-weight: 400;\">2. Diversity &amp; Discrimination<\/span><\/h3>\n<p><span style=\"font-weight: 400;\">Discrimination in the workplace is essentially any aspect about the job itself or the duties related to it which are treated differently with respect to any of the categories listed below. Ensuring diversity and actively preventing discrimination are critical aspects of resolving ethical dilemmas in business.<\/span><\/p>\n\n<p><b>The EEOC lists the following types of discrimination:<\/b><\/p>\n<ul>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Age<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Disability<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Equal Pay\/Compensation<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Genetic Information<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Harassment<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">National Origin<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Pregnancy<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Race\/Color<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Religion<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Retaliation<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Sex<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Sexual Harassment (as we discussed this above)<\/span><\/li>\n<\/ul>\n\n<p><span style=\"font-weight: 400;\">Most of us are [unfortunately] aware that some people hold prejudices towards people of a certain ethnicity, race or color, religion, sex or sexual preference, people over a certain age, mentally or physically disabled individuals, and so on. In fact, a shocking <\/span><a href=\"https:\/\/about-content.glassdoor.com\/en-us\/diversity-inclusion-2019\/\" target=\"_blank\" rel=\"noopener noreferrer\"><span style=\"font-weight: 400;\">61%<\/span><\/a><span style=\"font-weight: 400;\"> of American employees report having witnessed or experienced discrimination based on age, race, gender, or LGBTQ identity at work. On top of that, women currently make <\/span><a href=\"https:\/\/www.payscale.com\/data\/gender-pay-gap\" target=\"_blank\" rel=\"noopener noreferrer\"><span style=\"font-weight: 400;\">$0.81<\/span><\/a><span style=\"font-weight: 400;\"> for every dollar that men earn.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Other categories like genetic information or retaliation might be discussed less frequently, but are important nonetheless. To quickly clarify, genetic discrimination in the workplace is when a business treats an employee differently based on their genetic predisposition to developing a certain disease or disorder (such as a family history of heart disease, for example). Far-out as it may seem, this sort of ethical problem in business is becoming more prevalent as advancements in science continue to make DNA sequencing easier, quicker, and cheaper.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Regardless of how familiar you are with the different categories of discrimination, you can use the <\/span><a href=\"https:\/\/www.eeoc.gov\/discrimination-type\" target=\"_blank\" rel=\"noopener noreferrer\"><span style=\"font-weight: 400;\">set of guidelines for each type of discrimination<\/span><\/a><span style=\"font-weight: 400;\"> published by the EEOC to ensure that you operate properly with respect to this ethical issue in business.<\/span><\/p>\n\n<blockquote>\n<p><b>Note: <\/b><span style=\"font-weight: 400;\">The lending industry is not immune to ethical dilemmas in business, but it is taking steps towards <\/span><a href=\"https:\/\/www.become.co\/blog\/leveling-playing-field-female-entrepreneurs\/\" target=\"_blank\" rel=\"noopener noreferrer\"><span style=\"font-weight: 400;\">leveling the lending playing field<\/span><\/a><span style=\"font-weight: 400;\"> for women, minorities, young businesses, young owners, and more.<\/span><\/p>\n<\/blockquote>\n\n<p><span style=\"font-weight: 400;\">For example, <\/span><a href=\"http:\/\/www.become.co\" target=\"_blank\" rel=\"noopener noreferrer\"><span style=\"font-weight: 400;\">Become<\/span><\/a><span style=\"font-weight: 400;\"> has made huge strides in eliminating human bias from the loan decision-making process by using advanced technology to analyze a business\u2019s financial health &amp; stability. Your LendingScore\u2122 will reflect your business, never your personal background or circumstances.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">It\u2019s particularly important that your business positions itself to respond quickly and effectively to any instance of discrimination especially given the current ethical issues in business specifically related to race.<\/span><\/p>\n\n<h4><span style=\"font-weight: 400; font-size: 22px;\">What can your business do about discrimination?<\/span><\/h4>\n<p><span style=\"font-weight: 400;\">As is the case for all ethical issues in business, the first step to preventing unacceptable behavior is to educate employees, make sure everyone is aware of the rules, and have a system for distributing disciplinary action when needed.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">After that, one of the best ways to fight discrimination at work and guarantee a diverse group of employees is to consciously hire people with different characteristics and backgrounds. Having a diverse workforce will not only ensure equal representation for different groups of people but will also, in turn, help your business fight against discrimination by bringing in a variety of perspectives into the fold.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">You should also be careful about implementing business policies that may be inadvertently discriminatory towards a particular group of people. For instance, you may require all employees to shave their beards &#8211; but if the rule is deemed arbitrary and doesn\u2019t actually have anything to do with the employees\u2019 ability to properly do their jobs, the rule can be considered discriminatory on religious or even race grounds.<\/span><\/p>\n\n<blockquote>\n<p><b>The bottom line:<\/b><span style=\"font-weight: 400;\"> Be aware of how your business\u2019s policies may be seen as discriminatory and be open and flexible enough to make accommodations for all of your employees, regardless of their personal characteristics or circumstances.<\/span><\/p>\n<\/blockquote>\n\n<h3><span style=\"font-weight: 400;\">3. Social Media<\/span><\/h3>\n<p><span style=\"font-weight: 400;\">One of the more current ethical issues in business is the question of employees\u2019 personal behavior on social media outside of work hours. Granted, there\u2019s still quite a large gray area of situations that may or may not make it ethically justifiable to fire an employee for their social media conduct.<\/span><\/p>\n\n<p><b>Here are a few questions you\u2019ll want to consider with regards to this ethical dilemma in business:<\/b><\/p>\n<ul>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Is it right to punish employees for certain types of social media posts?<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Are you obligated to keep an employee who holds distasteful views and expresses them online?<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Should you fill the role of a mediator if employees get into a disagreement with each other on social media?<\/span><\/li>\n<\/ul>\n\n<p><span style=\"font-weight: 400;\">When it comes to employee etiquette on <a href=\"https:\/\/www.become.co\/blog\/social-media-marketing-for-small-business\/\">social media<\/a>, the bottom line for most businesses is that the employee can be justifiably fired if the activity is deemed disloyal or financially harmful to the company. Of course, neither your nor your employees would want to get to a point like that &#8211; so what can you do to minimize \u2018bad\u2019 employee behavior on social media?<\/span><\/p>\n\n<h4><span style=\"font-weight: 400; font-size: 22px;\">What can your business do about ethical issues related to social media?<\/span><\/h4>\n<p><span style=\"font-weight: 400;\">Addressing ethical problems in business connected to social media can be tricky mainly because most situations will fall in the gray area. To help eliminate confusion or disclarity for you and your employees, the best step to take is to create a set of rules and policies that clearly describe what is (and isn\u2019t) acceptable for employees to do on social media.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Your business\u2019s guidelines for employee behavior on social media should be paired with training sessions and periodic company-wide reminders via email. Likewise, if there ever is an instance of misconduct on social media and you\u2019re forced to fire an employee, it may be a good opportunity to readdress the topic with other employees.<\/span><\/p>\n\n<h3><span style=\"font-weight: 400;\">4. Health &amp; Safety<\/span><\/h3>\n<p><span style=\"font-weight: 400;\">There are few ethical problems in business that are more serious than the health &amp; safety of your employees and customers. Besides the obvious ethical implications of people getting hurt or sick while working for your business, there\u2019s also the huge risk to your business\u2019s financial stability and reputation. Don\u2019t be fooled just because this ethical issue in business is number 4 on this list!<\/span><\/p>\n<p><span style=\"font-weight: 400;\">In 2018 alone, the U.S. Bureau of Labor Statistics reported <\/span><a href=\"https:\/\/www.bls.gov\/iif\/oshwc\/cfoi\/cftb0322.htm\" target=\"_blank\" rel=\"noopener noreferrer\"><span style=\"font-weight: 400;\">5,250<\/span><\/a><span style=\"font-weight: 400;\"> fatal injuries, the causes of which included everything from injuries by animals to falls\/slips\/trips to transportation incidents and more. It may come as little surprise to learn that the two industries with the most fatal injuries are transportation (1,379 fatalities) and construction (1,008 fatalities). But regardless of what industry you\u2019re in, what your track record looks like, or how risky you think your business is &#8211; addressing health &amp; safety in your workplace is of the utmost importance.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">It\u2019s key to also highlight that physical safety shouldn\u2019t be your only focus; psychological well-being is a core component of creating a safe and healthy workspace. Consider this: approximately 63% of the U.S. population is part of the labor force and roughly <\/span><a href=\"https:\/\/www.cdc.gov\/workplacehealthpromotion\/tools-resources\/workplace-health\/mental-health\/index.html\" target=\"_blank\" rel=\"noopener noreferrer\"><span style=\"font-weight: 400;\">71%<\/span><\/a><span style=\"font-weight: 400;\"> of adult Americans report at least one symptom of stress (like headaches or anxiety).<\/span><\/p>\n<p><span style=\"font-weight: 400;\">It\u2019s not all doom and gloom though; of course, there are actions you can take to ensure health &amp; safety at work.<\/span><\/p>\n\n<h4><span style=\"font-weight: 400; font-size: 22px;\">What can your business do about health &amp; safety?<\/span><\/h4>\n<p><span style=\"font-weight: 400;\">There\u2019s been plenty of research done on the topic of combating ethical problems in business related to workplace health &amp; safety. The World Health Organization has gathered data to develop some fundamental advice on how to promote safety and health in the workplace:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Regularly inspect your workplace for any potential hazards<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Train your employees so they\u2019re educated on safety protocols<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Promote healthy living (stock kitchens with healthy snacks &amp; drinks)<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Inform employees that help is available<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Recognize and reward hard work<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Create opportunities for employees to grow<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Hold periodic meetings with employees to understand their needs<\/span><\/li>\n<\/ul>\n\n<p><img decoding=\"async\" class=\"aligncenter size-full wp-image-14486\" src=\"https:\/\/www.become.co\/blog\/wp-content\/uploads\/2020\/07\/GettyImages-1208389427-min-scaled.jpg\" alt=\"Ethical Dilemmas in Business\" width=\"1024\" height=\"683\" srcset=\"https:\/\/www.become.co\/blog\/wp-content\/uploads\/2020\/07\/GettyImages-1208389427-min-scaled.jpg 1024w, https:\/\/www.become.co\/blog\/wp-content\/uploads\/2020\/07\/GettyImages-1208389427-min-300x200.jpg 300w, https:\/\/www.become.co\/blog\/wp-content\/uploads\/2020\/07\/GettyImages-1208389427-min-1200x800.jpg 1200w, https:\/\/www.become.co\/blog\/wp-content\/uploads\/2020\/07\/GettyImages-1208389427-min-768x512.jpg 768w, https:\/\/www.become.co\/blog\/wp-content\/uploads\/2020\/07\/GettyImages-1208389427-min-1536x1024.jpg 1536w, https:\/\/www.become.co\/blog\/wp-content\/uploads\/2020\/07\/GettyImages-1208389427-min-2048x1365.jpg 2048w, https:\/\/www.become.co\/blog\/wp-content\/uploads\/2020\/07\/GettyImages-1208389427-min-405x270.jpg 405w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><\/p>\n\n<h3><span style=\"font-weight: 400;\">5. Environmental Responsibility<\/span><\/h3>\n<p><span style=\"font-weight: 400;\">Environmental responsibility in business may seem like it\u2019s targeted at big oil companies, lumber businesses, farming, and other businesses that have a more direct impact on the environment. But that\u2019s not the case! Even if your business operates entirely within the confines of an office building, environmental responsibility is still on the list of ethical issues in business that you should pay mind to.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Every business owner is responsible for the carbon footprint that their company produces. That applies to how your business affects air quality, water cleanliness, the safety of endangered species, the use &amp; conservation of other natural resources, the pristineness of protected nature reservations, and so on. Fortunately, the government has made laws to address most of the environmentally-related ethical dilemmas in business. Those laws include the Clean Air Act, the Clean Water Act, the Endangered Species Act, the Resource Conservation and Recovery Act, and more.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">All of that said, a recent study found that a whopping <\/span><a href=\"https:\/\/theconversation.com\/how-small-businesses-can-manage-their-impact-on-the-environment-60484\" target=\"_blank\" rel=\"noopener noreferrer\"><span style=\"font-weight: 400;\">78.2%<\/span><\/a><span style=\"font-weight: 400;\"> of small businesses haven\u2019t designed or implemented an environmental management system. It should be noted though that small businesses have reasons for not implementing environmental management systems. Those reasons include the financial burden of making changes, complications that may arise while implementing changes, not having enough guidance on how to <\/span><a href=\"https:\/\/fundbox.com\/blog\/5-high-tech-ways-green-business\/\" target=\"_blank\" rel=\"noopener noreferrer\"><span style=\"font-weight: 400;\">go green with the business<\/span><\/a><span style=\"font-weight: 400;\">, and so on. How can your business avoid those obstacles?<\/span><\/p>\n\n<h4><span style=\"font-weight: 400; font-size: 22px;\">What can your business do about environmental responsibility?<\/span><\/h4>\n<p><span style=\"font-weight: 400;\">There are numerous ways that your business can address environmental responsibility, some of which can be a bit costly and others that you can start implementing today. Either way you\u2019ll want to create an environmental management system:<\/span><\/p>\n\n<ol>\n<li><span style=\"font-weight: 400;\"> Assess for areas to improve<\/span><\/li>\n<li><span style=\"font-weight: 400;\"> Choose the ways to go green<\/span><\/li>\n<li><span style=\"font-weight: 400;\"> Define the goals for your EMS<\/span><\/li>\n<li><span style=\"font-weight: 400;\"> Create an EMS team to implement and oversee changes<\/span><\/li>\n<\/ol>\n\n<p><span style=\"font-weight: 400;\">Among the easier-to-do tactics your business should be doing: going paperless. Not only will it save trees, but it will also save you money &#8211; roughly <\/span><a href=\"https:\/\/www.informit.com\/articles\/article.aspx?p=1393497\" target=\"_blank\" rel=\"noopener noreferrer\"><span style=\"font-weight: 400;\">31<\/span><\/a><span style=\"font-weight: 400;\"> times the price you spend on the paper itself. In other words, if you buy a $40 pack of paper, you\u2019ll ultimately save around $1,200. The planet will thank you, and so will your bank account.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Of the [perhaps] more complicated and costly routes to environmental consciousness: using renewable energy. Namely solar power. Installing solar panels on your place of business will reduce the amount of electricity you source from the power company and can save you upwards of <\/span><a href=\"https:\/\/news.energysage.com\/commercial-solar-benefits-for-business\/\" target=\"_blank\" rel=\"noopener noreferrer\"><span style=\"font-weight: 400;\">80%<\/span><\/a><span style=\"font-weight: 400;\"> on your electric bill. How does reducing electricity consumption impact the environment? Consider this example from <\/span><a href=\"https:\/\/www.fastcompany.com\/57676\/how-many-lightbulbs-does-it-take-change-world-one-and-youre-looking-it\" target=\"_blank\" rel=\"noopener noreferrer\"><span style=\"font-weight: 400;\">Fast Company<\/span><\/a><span style=\"font-weight: 400;\">:<\/span><\/p>\n\n<blockquote>\n<p><span style=\"font-weight: 400;\">\u201c\u2026if every one of 110 million American households bought just one ice-cream-cone bulb, took it home, and screwed it in the place of an ordinary 60-watt bulb, the energy saved would be enough to power a city of 1.5 million people [and]&#8230;is equivalent to taking 1.3 million cars off the roads.\u201d<\/span><\/p>\n<\/blockquote>\n\n<p><span style=\"font-weight: 400;\">At the end of the day, we all should be doing our best to keep our planet clean and healthy for future generations &#8211; your business can play its part!<\/span><\/p>\n\n<h3><span style=\"font-weight: 400;\">6. Accounting Practices<\/span><\/h3>\n<p><span style=\"font-weight: 400;\">This is one of the more \u2018classic\u2019 ethical issues in business and comes along with some very serious legal implications as well. Manipulating a business\u2019s financial data to make the company look more successful &#8211; also known as \u201ccooking the books\u201d &#8211; is the most well-known form of accounting misconduct (and is a federal crime). Beyond the legal boundaries that it crosses, the ethical dilemmas in business related to bad accounting practices can put innocent people in harm\u2019s way.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Say, for example, your business was to misrepresent its earnings and expenses. Not only would you be cheating the IRS and American taxpayers by benefiting from tax deductions your business doesn\u2019t actually qualify for, but you\u2019d also be deceiving your shareholders (if you have any). If you then get caught, you could also be responsible for your employees losing their livelihoods &#8211; even if they have no knowledge of the wrongdoing. This is definitely an ethical problem in business that you want to avoid at all costs.<\/span><\/p>\n\n<h4><span style=\"font-weight: 400; font-size: 22px;\">What can your business do about accounting practices?<\/span><\/h4>\n<p><span style=\"font-weight: 400;\">The solution to this ethical issue in business is quite simple: personally review your financial statements and reports to ensure that they\u2019re honest and accurate. If that\u2019s going to be too time-consuming, hire an accountant you trust to run the numbers &#8211; even if they cost a pretty penny. And if cost is stopping you from hiring an accountant, but you\u2019re not sure if you can do it alone, then take some time to look over the <\/span><a href=\"https:\/\/www.become.co\/blog\/top-3-accounting-software-for-small-businesses-in-2020\/\" target=\"_blank\" rel=\"noopener noreferrer\"><span style=\"font-weight: 400;\">top 5 accounting software<\/span><\/a><span style=\"font-weight: 400;\"> that can help you keep your books in order.<\/span><\/p>\n\n<blockquote>\n<p><b>Important note:<\/b><span style=\"font-weight: 400;\"> After some careful thought, you may find that hiring an accountant is well-worth the investment, but you may still be short on funds to make it happen. Consider taking <\/span><a href=\"http:\/\/www.become.co\/business-loans\/\" target=\"_blank\" rel=\"noopener noreferrer\"><span style=\"font-weight: 400;\">business loans<\/span><\/a><span style=\"font-weight: 400;\"> as a way to clear this hurdle and do what you need to do to keep your business protected from the risks of fraudulent accounting practices.<\/span><\/p>\n<\/blockquote>\n\n<p><span style=\"font-weight: 400;\">In any case, this is not something to leave up to chance. Be sure that whoever is handling the accounting end of your business is trustworthy. If they aren\u2019t, replace them with someone who is.<\/span><\/p>\n\n<h3><span style=\"font-weight: 400;\">7. Data Privacy<\/span><\/h3>\n<p><span style=\"font-weight: 400;\">These days you\u2019ll be hard-pressed to find anyone who doesn\u2019t have some sensitive data stored digitally &#8211; including your employees. In fact, more than <\/span><a href=\"https:\/\/www.pewresearch.org\/internet\/fact-sheet\/mobile\/\" target=\"_blank\" rel=\"noopener noreferrer\"><span style=\"font-weight: 400;\">80%<\/span><\/a><span style=\"font-weight: 400;\"> of Americans own a smartphone and the average person uses roughly 25 applications every month. That\u2019s a ton of opportunities for data to fall into the wrong hands!<\/span><\/p>\n<p><span style=\"font-weight: 400;\">So what does that have to do with ethical problems in business? Well, the ethical issues have less to do with how your employees conduct themselves on company computers, smartphones, and tablets (although that\u2019s super important to address!). The ethics come into play when you decide how exactly to implement a <\/span><a href=\"https:\/\/www.become.co\/blog\/small-business-cyber-security-plan\/\" target=\"_blank\" rel=\"noopener noreferrer\"><span style=\"font-weight: 400;\">cybersecurity plan for your business<\/span><\/a><span style=\"font-weight: 400;\">.<\/span><\/p>\n\n<h4><span style=\"font-weight: 400; font-size: 22px;\">What can your business do about data privacy?<\/span><\/h4>\n<p><span style=\"font-weight: 400;\">To avoid the reputational and financial damage of a data breach, you\u2019ll want to develop a small business cybersecurity plan and put it into action as soon as possible. The ethical questions arise around the specific aspects that make up your cybersecurity plan. To be more precise, when does monitoring your employees\u2019 behavior on company devices cross the line and become unethical? Unlike some other ethical problems in business, this one doesn\u2019t have legal restrictions. Businesses have the legal right to look into your browsing history and company email use, and they do!<\/span><\/p>\n\n<p><b>Check out this data from the <\/b><a href=\"https:\/\/www.amanet.org\/articles\/the-latest-on-workplace-monitoring-and-surveillance\/\" target=\"_blank\" rel=\"noopener noreferrer\"><b>American Management Association<\/b><\/a><b>:<\/b><\/p>\n<ul>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">66% of businesses monitor Internet connections<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">45% track content, keystrokes, and time at keyboard<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">43% save and review files on your computer<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">10% monitor social media<\/span><\/li>\n<\/ul>\n\n<p><span style=\"font-weight: 400;\">Ultimately, the way to avoid these ethical dilemmas in business is to openly communicate about them. There\u2019s no sense in keeping your business\u2019s monitoring a secret from employees. Quite the contrary &#8211; if they know you\u2019re monitoring, they\u2019ll be less likely to do the things you have warned them about.<\/span><\/p>\n\n<p><img decoding=\"async\" class=\"aligncenter size-full wp-image-14488\" src=\"https:\/\/www.become.co\/blog\/wp-content\/uploads\/2020\/07\/GettyImages-609807264-min-scaled.jpg\" alt=\"Current Ethical Dilemmas in Business\" width=\"1024\" height=\"683\" srcset=\"https:\/\/www.become.co\/blog\/wp-content\/uploads\/2020\/07\/GettyImages-609807264-min-scaled.jpg 1024w, https:\/\/www.become.co\/blog\/wp-content\/uploads\/2020\/07\/GettyImages-609807264-min-300x200.jpg 300w, https:\/\/www.become.co\/blog\/wp-content\/uploads\/2020\/07\/GettyImages-609807264-min-1200x801.jpg 1200w, https:\/\/www.become.co\/blog\/wp-content\/uploads\/2020\/07\/GettyImages-609807264-min-768x513.jpg 768w, https:\/\/www.become.co\/blog\/wp-content\/uploads\/2020\/07\/GettyImages-609807264-min-1536x1025.jpg 1536w, https:\/\/www.become.co\/blog\/wp-content\/uploads\/2020\/07\/GettyImages-609807264-min-2048x1367.jpg 2048w, https:\/\/www.become.co\/blog\/wp-content\/uploads\/2020\/07\/GettyImages-609807264-min-405x270.jpg 405w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><\/p>\n\n<h3><span style=\"font-weight: 400;\">8. Nepotism<\/span><\/h3>\n<p><span style=\"font-weight: 400;\">Nepotism, in case you\u2019re unfamiliar with the term, refers to a form of favoritism for family members or close friends. While it can definitely introduce issues into the workplace under certain circumstances, nepotism isn\u2019t inherently a bad thing if the family member or friend is fit for the position and gets along well with other employees.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The problem typically arises when that isn\u2019t the case, and you wind up hiring someone based on your personal relationship with them and not on their ability to do the job. But even when they are qualified for the position, hiring a friend or family member can still breed resentment among other employees. That\u2019s why you need to be extremely careful when deciding to bring someone from your personal life to work in your business.<\/span><\/p>\n\n<h4><span style=\"font-weight: 400; font-size: 22px;\">What can your business do about nepotism?<\/span><\/h4>\n<p><span style=\"font-weight: 400;\">Besides being very careful about who you bring into your business, there\u2019s not much you can do to eliminate the negative views that some employees may have if and when you hire a family member or close friend. Even if yours is a family owned business, you\u2019ll want to pay close attention to the ratio of employees vs. friends\/family. After all, as the old saying goes, \u201cyou can\u2019t be a boss and a friend\u201d.<\/span><\/p>\n\n<h3><span style=\"font-weight: 400;\">9. Theft<\/span><\/h3>\n<p>Last but not least, theft is one of the most common phenomena worldwide. According to a survey by <a href=\"https:\/\/financesonline.com\/employee-theft-statistics\/\">Finance Online<\/a>, 39% of businesses have experienced more than one case of employee theft. But what exactly does that mean? Is there more to employee theft than &#8220;just&#8221; stealing inventory? The answer is yes.<\/p>\n<p>Employee theft is also about violating some other ethical issues, like stealing time; although this issue isn&#8217;t talked about often, many businesses are losing a fair amount of money due to false attendance reporting of employees.\u00a0<\/p>\n\n<h4><span style=\"font-weight: 400; font-size: 22px;\">What can your business do about theft?<\/span><\/h4>\n<p><span style=\"font-weight: 400;\">Preventing theft is a process that should start at the very beginning of the recruitment of employees. Obviously, you&#8217;ll want to be rest assured that your potential employees are trust worthy and respectful of your business in all ways. Make sure to conduct background checks, address employee theft in your company policy and occasional updates, and make the consequences of theft clear enough for all your employees. Also, encourage your employees to raise a flag when suspicion arise.\u00a0<\/span><\/p>\n\n<h2><span style=\"font-weight: 400;\">Be and do your best<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">Ethical problems in business are something that most if not all owners will encounter at some point in their career. Even if you take all of the necessary precautions and follow the recommended steps, you should always stay prepared to handle ethical dilemmas in business in an appropriate and productive manner. When problems arise, use them as opportunities to learn as an owner and to build a better, fairer, and more ethical business.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Most business owners will encounter ethical issues in business at some point in their career. Learn how to build a more ethical business with this guide.<\/p>\n","protected":false},"author":1,"featured_media":14476,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[13,114,1,12],"tags":[160,292],"class_list":["post-14464","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-aus-resources","category-small-business-wisdom","category-uncategorized","category-us-resources","tag-business-tips","tag-gender-equality"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.5 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>8 Common Ethical Issues Facing Businesses in 2021 - Business Funding Blog<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.become.co\/blog\/ethical-issues-businesses\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"8 Common Ethical Issues Facing Businesses in 2021 - Business Funding Blog\" \/>\n<meta property=\"og:description\" content=\"Most business owners will encounter ethical issues in business at some point in their career. 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