Ethical and Legal Issues in Business

Question 1

What are some Legal Issues in a business?

Answer 1

• Ensuring that the business is a bonafide firm or establishment and not using it as a front for money laundering and other illicit activities.
• Ensuring that capital is legally obtained and is not tainted by an illegal source of funding.
• Payment of national insurance contributions and taxes.

Question 2

What are some Ethical Issues in a business?

Answer 2

• False advertising
• Withholding of tax – cheating the government of revenue
• The adoption of an organization code of ethics
• Unethical disposal of waste
• Policies on environmental issues
• Handling of personal information in an inappropriate manner (employee information should not be broadcasted on social media or discussed with friends)