UCLA Essay Example | Topics and Well Written Essays - 750 words

UCLA - Essay Example However, the magnitude of the compromised ethics on the situations differs from one segment to the other. Among the five segments the most ethically compromised situation is act two in which the two businesses talked about have a silent partner. One of the businesses, Chad’s business has Chad as a business partner. This results to unethical undertakings like placing his picture on the business and wearing t-shirts with his name and yet he is dead. The action sets superstition that causes it to be unethical thus influencing the running of the business. Unlike other situations where few individuals compromise ethics, in this segment all the individuals involved in the business compromise ethics. Everybody was wearing a shirt with Chad’s name; the activity of every person involved was shaped by Chad who died before the business started. This makes the segment ideal for explaining an ethically compromised situation. Family businesses are very different in characteristics when compared to other types of businesses. One of the characteristics that makes them unique is that they require succession after a certain period. The business is passed from an incumbent senior generation to a next generation of leadership or ownership (Ward 3). This provides a challenge and opportunities that are rare in other kinds of businesses. Another thing that makes family business rather unique is that unlike the public companies owned by investors who are the main shareholders, this business has an individual owner or a team of owners who are family members. According to Gersick (1), these owners play a very different role from that played by shareholders. They directly influence the running of the business and general performance of the employee of that business which is not the role of the shareholders in the public companies. Family ties prohibit a person from doing certain things to certain members of his family. Private enterprises