Many companies promote injurious products with misleading information, purely for the sake of improving the bottom line. Here are some common unethical business practices that many companies around the world are guilty of adopting for success. Some offenders get caught and face public disgrace others continue to bask in the glory of their unprofessionally accomplished success. Consequently, the Chairman had to step down as evidence against the company started surfacing.Ĭertainly, scandals are shaking up the business world. Apparently, they charged clients for advice which they never received. In another example, Australian finance company, AMP, faced scrutiny for misconduct in banking. A quiz app on the social networking website gathered data from 50 million Facebook profiles and delivered it to Cambridge Analytica. Using consumer’s personal data without their consent is a major digital theft that has come to light in the past few years. The lines between acceptable and unacceptable have blurred the focus has shifted from the consumers to gaining higher profits and margins.įor example, a Facebook data scandal from not that long ago engulfed its CEO Mark Zuckerberg in a global controversy. However, the obligation to operate responsibly has been put on the back-burner. The urge to rule the market has made businesses selfish and all-consuming. This cut-throat struggle for survival and emerging as a winner attracts a lot of unscrupulous tendencies this has unfortunately become a part of the system. Whether it is a big conglomerate or a small business or even an online project, the stakes of outperforming the competition are always high. However, these terms are quite common in the commercial circles where unethical business practices can be seen by the dozen. Deception, collusions, swindling… sounds like the plot of a best-selling novel.
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