In: Economics
describe an unethical business act that should become illegal. Why should this act become illegal? What would be the penalties for someone who violates this new business law?
The first part of the question: Describe an unethical business act that should become illegal.
One of the very seriously rampant unethical business activities that I really deem should be illegal is the underpayment. In fact, the underpayment can be said to be one of the ways through which businesses mistreat their employees. In the corporate world, the owners of the businesses will never want to pay the employees as per the very best that the employees are bringing on the table. Most of the businesses when they are doing the recruitment, even alert the employees that they pay will be from a given scale as they start working then in the future they get higher pay. I believe that this is very much unprecedented act because if an individual is properly matched to the job, task execution to becomes properly streamlined towards performing from day one and so, businesses should have a harmonized and standardized pay system without taking into consideration that the employee gets higher after working for long with the business.
Explanation:
The second part of the question: Why should this act become illegal.
This act should become illegal in the sense that it is a way of mistreating the employees and as we know, knowledge is an asset and if so then the employee should start getting that higher pay which is promised in the future, today. Generally, it is a clear thing that if an individual is properly matched to the job, task execution to becomes properly streamlined towards performing from day one and so, businesses should have a harmonized and standardized pay system without taking into consideration that the employee gets higher after working for long with the business.
The third part of the question: What would be the penalties for someone who violates this new business law?
In the event that the law is out there for the employers that all the employees have a standard payment system immediately, they are hired instead of being put to do more and get paid little in the name of waiting for the future so that they get higher pay, employers who violate such kind of law should be met with the full force of the law and their businesses de-registered and stopped from continuing with operations.
Also (in an alternative way ), an employer who violates this new law should be fined as per the stipulation of the framework of the law.