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Business Ethics: According to Hopkins
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Leadership is important in a corporation, but can an executive who earns millions in salary and compensation really call himself ethical? In 2005, the average US CEO made $10.2 million or almost 400 times the average blue-collar pay of $27,460 (Ferrell, Business Ethics, 1010, p. 46). Are such large executive salaries justifiable? "Sure, there's a lot of pressure, but at least 30 company chiefs have fully vested stock options worth between $100 million and $1.6 billion" (MSN.com, 16/10/06). How can someone be worth an annual compensation of $10 to $50 million? In 2010, the average employee bonus in the banking/investment industry is $25,000 while some executives expect to receive a $1 million.
What are the positives and the negatives of globalization? Does globalization work?
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BUSINESS ETHICS
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(18, November, 2010)Business Ethics
Business ethics according to Hopkins (2004) are also known us corporate ethics. This is how people and institution behaves themselves as critically examined in the world of commerce. Executives with large salaries are ethical for their top position should be well paying. This is to ensure that they work hard to be retain their job hence, be motivated to ever pressing economic constrains and also to reduce labor turn over in search of greener pastures. Large executive salaries are justifiable in our modern world. This is due to complexity of the job and changing environment, high globalization, high technology and competitiveness. Vested stock option this gives an incentive to the management making them to...
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