Ethics

BUSINESS ETHICS REPORT AN INVESTIGATION OF THE ETHICAL ISSUES THAT ARISE IN THE OPERATION OF A FREE MARKET SYSTEM IN THE HIH COLLAPSE Word count: 2115 THE SCOPE OF ETHICS AND THE NATURE OF ETHICAL OBLIGATIONS THE HIH COLLAPSE BACKGROUND There are few surprises when it comes to insurance, but when they do come they nearly always bring bad news. Such was the demise of HIH Insurance Limited (HIH): both a surprise (to many) and very …

…legislation. Ethics without legal enforcement would lead to individuals falling prey to their own greed leading to infestation of businesses who become compounded by corruption, deceit, manipulation and subversion in the business industry. The result would lead to many thousands of innocent investors and employees losing their security and life savings. Ethics, virtue, morality and the law require a stronger cohesion through stringent legislation to prevent incidents like the collapse of HIH from happening again.