Unethical practices are quite noticeable in the world. It has majorly been the part and parcel of life. With the mushrooming business forms across the globe, there are many unethical business practices conducted for the betterment of the business. In most commercial circles, the truth is white-washed with evils like corruption, collusion, swindling, etc. Irrespective of the size of the business, evil practices are seen everywhere because the pressure of outperforming the rat race competition in the market is quite high. There is always a fear of losing individuality in the market and the struggle for survival is all cut-throat. The vividly visible lines between unacceptable and acceptable have now blood out in today’s world. Businesses setups expecting large profits out of their service. In such a case some ill practices take place and in this article, we will discuss the most common and distasteful practices which are commonly seen in today’s commercial circle.
Top 5 Unethical ill-practices of the Businesses
1. Misled product information
Many companies are producing injurious products but they sell them with the help of misleading information. The intention behind bringing the products to the market is nothing but making money. Such corrupt practices are quite obediently visible today. Starting from the perils used for breakfast to the oils used in automobiles, there are products in every category that uses misleading information to trap the customer.
Some of the products are even the best sellers. Exaggeration of the qualities of the product is allowed but a product with inferior features should not be the best seller. The exaggeration of the qualities of the product and misleading the qualities of the product are two different scenarios. The first one being a little ok to deal with, but at the same time, the second one is marketing mischief conducted by the business setups to make a lot of money. The authenticity of the information posted for the consumers becomes completely doubtful. All the intent is to make their products salable.
2. Unfair competition
Defaming a competitor or putting out a trade secret is unethical more than most of the business setups are into. The competition in the market should be healthy and healthy ultimately helps in the growth of the organization. But unfair competition like this does nothing but 800 more negativity into the scenario. We have stepped into the digital era and there is much cyber defamation as well that can be discussed under this particular unethical practice. The business setups are now majorly involved in the fame of the cello companies.
There is no requirement of putting much effort to whitewash this black deed. One can create an anonymous account in the social networking websites and put out fake blogs or post from the account to defame a company. This has now led to many serious issues and the cybersecurity threat across the globe has no led to the fall of many business firms. If the offender is held red handed then he is punished by law.
3. Miss-behavior with employees
The business organization rarely has good behavior to offer the employees. Rude and bad behavior and mistreating the employees are quite commonly found. Employees often get paid less. Employees who work for long hours are not even paid and this is nothing but the mental harassment of employee class. In the rat race competition of the market, every company is now looking forward to creating whopping revenues. And they save much of the money by underpaying their employees. But this does not lead a company to a successful platform.
Satisfied employees are the key to a company’s success. Finding labor and employees at cheap prices does not help the company much. Manpower is one of the greatest strengths that any company can have. This is why the condition of the workplace in the world has degraded to some another level. Apart from the giant companies which have got huge name and brand, all the other business forms are rushing behind misting employees and paying them less. Some of the business forms are also employing little children and enslaving them to work hard in a hazardous condition for hours and do not pay them enough.
4. Account manipulation
Many companies are indulged in hoodwinking consumer lenders and investors. They put all their effort to tweak the financial reports and show the lower depreciation and inflated profit which is all lie. They put all their effort into fooling the investors and the consumers of the products of the company. This gets them momentary fame and temporary income. But the underlying truth will always come to the surface some day or the other.
The companies must have a habit of dealing with everything with fair play. Entertaining fake products and fooling people around does not help much. Truth never remains hidden and once it is out, the fame of the company stays in the world. If the company is caught red-handed then the carrier of the company is ruined. It may even be blacklisted and people might not wish to work or deal with the company anymore.
The corporate world appears quite happy and fairly cool. But when one dives deep into it, the evil practices are many and bribery is one of them. Hatching a favorable deal is now easier by offering some money or other valuable things as bribery to the other person. Bribing the government official is one of the most common evil practices done by business holders.
If a business requires the approval of a process or something from the government, then the government officials are given bravery from the business holders. And they seek approval. To prove competent in the unhealthy rattles competition of the market and to mislead the consumers with all the bluff, the companies use bribery. There are quite big names under this phenomenon. The race for higher revenue is snatching values away from people.
These are the few things that one must know about the most commonly seen unethical practices by the companies to remain relevant in the market. They are so maddened by the money value that blindly trusting them is not an option at all. Here is hoping that we could suffer is our readers with ample of information about the common malpractices conducted by the business firms