Many believe that the success of a business is determined by they amount of money they generate on an annual basis. Because of this widespread belief, we often see a lack of morals, values, and ethics incorporated into the business. Many businesses feel as if there is no room for ethics in the business world and that the relationships built should focus solely on the generation of revenue. According to Merriam Webster dictionary, we can define ethics as, “the discipline dealing with what is good and bad and with oral duty and obligation. Every company has a code of ethics in order to determine the company’s culture and values. It also acts a driving force behind any decisions made by top executives. In market where there are so many profit-based businesses, often times we see the many difficulties in balancing the pursuit of profits while staying true to their code of ethics. The balance of ethical practice and profit minimization causes companies to face difficult decisions and many times businesses choose profit minimization. Business-to-Business and Business-to-Consumer transactions require frequent interaction.
In every type of business transaction, whether it is BIB or BBC, there is going to be different motivation behind it, which will determine the nature of their interaction. Is it possible to find statistical data that can determine a relationship between the love of money and unethical behavior? And if so, is this relationship affected by gender or college major? We will be answering these questions by the usage statistical evidence found in an article called, Intelligence Vs.. Wisdom: The Love of Money, Machiavellian, and Unethical Behavior across College Major and Gender written by Dry. Chem. and Dry. Tang.
This are will help us discover whether or not there is a relationships between the two variables. We have developed specific steps in order to determine any correlation between the two variables. We start with discussing three different avenues that result from income. Through Dry. Chem. and Dry. Tangs research we find that income can result in Machiavellian, love of money, and unethical behavior. As we approach the conclusion of this research paper, we will discuss the progression path will determine how different variables affect results. Machiavellian is activity characterized by subtle cunning, duplicity, or bad oath.
These actions often lead to unethical behavior. On the other hand, an increase in income results in an unhealthy love/obsession of money, which after much research we can say lead to both Machiavellian and unethical behavior. Synonymous with other experimental studies, once we identify the criteria and problem, we can then state our hypotheses. In trying to form a correlation between the love of money and unethical behavior we predicted a positive relationship between the two variables. Our first hypothesis states that the love of money is positively related to unethical behavior in the oracle.
As previously stated, the root of the effects in our study and unethical behavior is the hypothesized result; we now need to gather data to prove our hypothesis. There are many different means for gathering data, with each method intended for specific type of study. The data from Dry. Chem. and Dry. Tangs research was acquired by conducting a survey. The survey allows us to organize, record and analyze data in order to form a correlation between variables. Once we gather all of the data we must organize it into different subcategories to perform a summary analysis of our results.
In this duty we must focus on the various effects of money on ethical behavior according to college major. In the business world ethics are often overlooked and not given much consideration. This is idea can be attributed to fact that most businesses are profit-based with generating revenue as their overall goal and focus. The level of unethical behavior was significantly higher for those majoring in business as oppose to students in other majors. The study concluded that business students were more likely to cheat and engage in other unethical behaviors. Many times, those in business have the mindset hat the ends justify the means.
This mindset is seen in business personnel even early on according to the survey. College students were already engaging in unethical practices when motivated by money. Another subcategory of our study separated the effects of money on ethical behavior is by gender. Would female students be more or less inclined to act unethically? And once this is determined which gender would have a higher chance of improving ethical standards? In the research conducted by Dry. Chem. and Dry. Tang they concluded that females had a higher rate of improvement of ethical activity than male students.
It is evident after dividing and analyzing every area of this study we can find conclusive evidence through the survey. The business students were more likely to act unethically than the psychology majors because of the competitive and Mechanistically aspects attached to the profit-minimization-based mindset of many businessmen and women. Also we can see a difference in the attitudes of male and female students towards money and how ethics should be incorporated into business practices. In this research paper we will look more intently into all of the different aspects mentioned in the study of money and ethics.
Theory and Hypothesis Unethical behavior has been prevalent problem since the beginning of time. Currently, we have seen many business leaders, politicians, and athletes act unethically such as: Enron, BP, the CIA scandal, and many government organizations are just a few examples. As a result of these scandals and unethical behavior over the years, there has been extensive research performed by statisticians, psychologists, and professors in the field in order to better understand the triggers of unethical behavior in humans.
This paper combines the research and theories of Dry. Sheen’s and Dry. Tangs theoretical del on love of money and Dry. Tang’s and Dry. Lieu’s theory of ASPIRE (Authenticity of Supervisors Personal Integrity and Character) to the love of money and unethical behavior. We will begin with examining the first theory presented by Dry. Chem. and Dry. Tang in which they presumed that income can lead to three different behaviors: the love of money, Machiavellian, or unethical behavior (Tang, Chem., 2008, p. 3-6).
For those unaware of Machiavellian behavior, it “is based entirely on expediency, manipulation, exploitation, and deviousness and is devoid of the traditional virtues of trust, honor, and decency’ (Tang, Chem., 008, p. 3-6). Furthermore, they have also presumed that the love of money will either lead to Machiavellian or unethical behavior. Finally, they assume that the behavior of Machiavellian is directly related to unethical behavior. ASPIRE The following theory that concludes much of this papers anticipated information originates from Dry. Tang and Dry. Lieu’s theory.
This theory explains the ASPIRE to the love of money and how it can correlate with unethical behaviors. Dry. Tang and Dry. Lieu state that, “attitudes toward the behavior, subjective norms, and perceived behavioral control can be used to predict behavioral intention that, in turn, can be used to predict actual behavior” (Tang, Lieu, 2011, p. 296). Thus, they have acquired a deep understanding that reveals that the root of unethical behaviors can stem from the love and desire for money. However, Dry. Tang and Dry. Lieu also believe that a individual’s character, honesty, and transparency might influence the intentions of unethical actions.
The Love of Money Throughout today’s society, money is one of the most highly important objects a individual strives for in his or her lifetime. Hence, many studies have been calculated on the importance of money in today’s world. Members of society value the amounts of money they are making and what they will make in the fiscal year. In 1 971, 49. 9% of freshmen concluded that reason they were attending college and furthering their education was to “make more money/’ in their future. Then in 1 993, that number increased to 75. 1 which is a 25. 2% increase. (The American Freshman, 1994).
Today, that statistic is still increasing because now it is known worldwide that if an individual earns a college degree, they will be more qualified for a better paying job after graduation. In addition, it has been said that if these students do not gain the mount of money they are striving for, it will cause dissatisfaction, which could then change the minds of these students causing them to undertake in unethical behaviors. (Bryan, 2004) Additional research that was conducted reveals that students tend to target a specific major or study that will reward them with highest paying job prior to graduating college.
These students are attracted to whatever major or study that will be most beneficial to them in the future which reveals how much our society values the love and indulgence of money. (ask, 1993). Money has placed a very important role in he lives of most people living in today’s society; people revolve around money and how it can benefit their lives. For example, individuals are always contemplating what they want to buy next. Although money is a necessity to live, many individuals have stopped working to live but now, live to work to gain more money for themselves.
Now, since we know that individuals place a very high spectrum for earning a great amount of money in life, we will know look deeper into their attitudes while assessing money. The Scale of the Love of Money The agreement that the love of money in today’s society is apparent allows tidies to be calculated about the attitude which money brings upon society. The love of money scale (LOOM) gives a measured understanding of the attitudes regarding money and how unethical behaviors can tied in and correlates. LOOM is considered to be one of the most well-developed and systematically used measurements of attitudes when regarding money. E. G. , Lea and Wobble, 2006; Mitchell and Nickel, 1999). The love of money, according to LOOM scale is defined as (1) one’s attitude towards money with affective, behavioral, and cognitive components; (2) the significance of one’s attributes to money, (3) one’s desire for, expectation about, value of, or aspiration for money; (4) not one’s supposing need, materialism, or greed; (5) a multi-dimensional individual difference variable; and (6) a second-order latent construct with several first-order latent sub-constructs (Law et al. , 1998).
According to this research done in LOOM, the argument that the love of money (defined as one’s desire and aspiration for money) strongly correlates to holding unethical behavior that materialism can bring upon society (defined as one’s pursuit of a satisfied, content, and happy life through institution and possessions). After researching this specific study, we can determine three important aspects: the want or desire to be wealthy in life (affective), money is one of the most motivating strategies for one’s behavior (behavioral), and the fact that money down right important in society. Cognitive) (e. G. , Tang and Chic, 2003; tang et al. , 2006, 2007). Thus, money being one of the most influential motivators reveals that individual’s will do whatever it takes to gain money even if it is not seen as ethical. (Harp, 1990). This quote sums up the notion that motivation is purely in coherence o the desires of money, “No other incentive or motivational technique comes even close to money’ (Locke, Freer, McCabe, Shaw, and Denny, 1 980, p. 381).
Remarks Consequently, after evaluating all the research shown previously, it can be determined that money is very important and with societies’ seemingly uncontrollable desire and need for money, it can motivate individuals past ethical standards and behaviors. Hence, even from the start of adult hood, students in college automatically will target a potential career that will allow them the most money for their future. And also when a individual is faced tit difficult circumstances where the necessity of money is important, that individual will mostly likely choose to behave unethically to gain and provide money.
Therefore, in situations like these individuals will most likely sought after and find by whatever means necessary to earn their money. This would most likely include both ethical and unethical behaviors to do whatever it takes to collect the money needed to relieve them from the given situation. How the Love of Money Affects Unethical Behavior In a survey that was distributed nationwide, the results suggests that American adult consumers who desire to be wealthy are likely to act in questionable consumer activities and behaviors to gain their money. (Vital et al. , 2006).
The love of money is often indirectly and directly related to unethical behavior through pay discontentment (the Love of Money Pay Satisfaction -> Unethical Behavior) among professionals. (Tang and Chic, 2003). Another prime example Of a research study that is in support of this theory is this: Among full time employees in 30 samples across six continents around the world (N = 6,081 the love of money is positively related to unethical behavior for people in the high (income > $20,000, n 1 , 756) and median ($5,000 – $20,000, n = 2,371 ) GAP groups but not for the low (income < $5,000, n 1,954) GDP group (Tang et al. 2007). As concluded in the information, money in general and the nonstop desire for it has an immense effect on how individuals act upon their ethical standards. From the various research accounted for it can be concluded that the first hypothesis reveals: Hypothesis One: The love of money is positively related to unethical behavior in the workplace. Differences in Unethical Behavior Based on Genders Due to what the love and desire for money can do to an individual's behavior it must be considered through the roles of genders. For example, one might ask, are males more likely to engage in unethical behavior than women?
Or are women more likely to be involved in unethical behavior? Is the drive for success, desire for materialism, and the passion for money displayed differently by gender? According to research that has been conducted, male students have higher concerns about career advancement then women, and thus are at least twice as likely to engage in unethical practices then females (Beet et al. 1 989; Mammalians and Berger, 1996). In regards, there has been different studies that formulate that female managers are more ethical than their male counterparts regarding accepting favors for special treatments (Deckhands, 1997) and ethical reasoning (e. . , Bee et al. , 2003). However, it has been seen that for both the sexes, the practice of steady ethical beliefs have increased with age. (Llama et al. , 2000). Often, when individual’s grow older they believe it is more important to be ethical then to act unethically because of what it can do for one’s reputation, family, and their own life. Both men and women are in equal agreement that some actions are unethical and should not be partaken in. Although, more women then men indicate that they are less likely to undergo unethical behaviors to gain something greater. Stashed et al. , 2007). Other studies reveal that women are more likely to pursue ethical approaches in the workplace than males (Burns, 1999). For example, some feminine traits are characterized by showing warmth, compassion, tenderness, sympathy, and sensitivity to others (Bern 1974). Which on the other hand, masculine traits can be characterized as risk taking, competitive, assertiveness, independence, and dominance (Comer and Solon, 1991 This could also reveal why men are ailing to take risks by undergoing unethical behavior to gain greater aspects in the workplace.
Remarks In Reflection of these studies, it is obvious that gender is expected to play a partial role when establishing which group of individuals are more inclined to act unethically in pursuit of achieving money. For instance, as a result of either basic genetic makeup or stereotypical characteristics, assumptions have been made claiming that one gender may or may not be more susceptible to engaging in unethical behavior as opposed to the other. Such didst incentive character traits that gave way to these assumptions include the ability of women to approach dilemmas in an ethical manner as a result of their sensitivity and sympathy.
On the other hand, distinctive character traits in males such as their ability to be assertive, dominant, and “bread winners” could explain why they are more prone to approach dilemmas from an unethical viewpoint. More importantly though, regardless of characteristics in gender, the prevailing similarity between all individuals when it comes to making ethical decisions is their age. Generally, as one increases in age they are more knowledgeable to making decisions that are both ethically and orally sound.
Hypothesis Two: Unethical Behavior is found to be more prevalent in the male demographic because Of the love Of money. Honesty and Integrity For our third hypothesis stating that we believe that males are more prone to participate in unethical behavior and decision making, it was important to understand the constructs of ASPIRE. ASPIRE deals primarily with ethical standards upheld by individuals in a workplace such as honesty, integrity, and good will. In our research we will further explain how men are more prone to having unethical behavior as a result of lacking integrity and honesty because f the love of money.
One of the underlying Principles and constructs of ASPIRE is to show honesty fairness and integrity. Integrity in the workplace is being completely honest with co-workers, employees, employers, and those that you do business With. When looking at professional relationships in the workplace, a lack of integrity and honesty can be seen either on the same or on different administrative levels of hierarchy when individuals are less than honest with each other. Integrity occurs when there is an intentional unethical alteration of a given situation or dilemma by one of the parties in he relationship.
Lack of integrity can stem from jealousy, competition between people and or corporations, personal differences, and even lack of respect. Many of these traits are directly attributed to the characteristics that men obtain either through personal experiences in their lifetime or genetically. For instance, many men are prideful and strong willed which could be a factor leading to dishonest behavior or practice. Also, this is seen in big corporations where Coo’s because of the love of money lack integrity as a result of being in or holding a position and title that is superior to others around them.
If a leader or supervisor goes back on what he/she has promised, then it will create an undesirable outcome that will cause the employee to want to get back at the leader for their unethical behavior (Greenberg 1993). Dry. Tang says that “an unfair outcome evokes greater activity in the emotional regions of the brain, where as unfair procedures promote greater life in the social cognitive parts of the brain (Tang and Lieu, 201 1 pig. 300). Robert Greengage describes the Idea of servant leadership as: “It begins with the natural feeling that one wants to serve, to serve first.
Then conscious choice brings one to aspire to lead. The difference manifests itself in the care taken by the servant-first to make sure that other people’s highest priority needs are being served. ” (1970, p. 4) Servant leaders want their followers and peers to perform at their highest level in order to achieve their goals. Dahlia Llama was someone who mirrored the characteristics of a servant leader. Over the course of his life, he experienced many trials and tribulations due to his service to humanity.
He was even imprisoned for a number of years all for the sake of helping others. Not all of us are able to portray such servitude, but it should be something that we all strive for in our ally lives. Transparency Milton goes on in his essays, Transparency in Nursing Leadership, “a chosen ethical practice of transparency fosters and potentially enhances individual and organizational integrity, confidence, and trust”. In order to be transparent, the individual must make an intentional, ethical decision to be clear, plain, forthright, and above norm” (Milton 2009, pig. 3). It is transparent that transparency is a crucial role in the everyday decisions that a leader must make. So important transparency is that Dry. Tang and Lieu brought to life a study enacted by Grouter et al which finds that “spirituality is he highest goal near self-transcendence; hedonism is the lowest value next to physical self” (Tang and Lieu, 2011 pig. 300). On a side note, it is clear now why we have always done your surveys, which have a great deal to do with hedonism and its importance to us. Many scriptures in the Gospel have to do with the love of money.
More in depth, they say that “one cannot serve both God and money” (Matthew 6:24) and “the love of money is the root of all evil” (1 Timothy 6:10). From these spiritual teachings, we can apply them to the values of an aspire leader. An ASPIRE is an ethical beacon in his/her workplace. He/she has a major effect on the operation and serves as a constant reminder of the companies’ values. According to Tang and Lieu, an ASPIRE creates a positive environment and ethical culture in the firm (Tang and Lieu, 2011 pig. 300).
When surrounded by ethical people, an individual will be able to see a trend of ethical behavior coming from themselves (Chem. and Tang, 2008). The level of unethical behavior will be limited with the presence of a high aspire leader around daily. Leaders with low aspire should be relieved of their duties as soon as possible. These people only bring down others in the workplace. They create negative environment, which promotes unethical behavior. These leaders engage in unethical behavior on a daily basis and do not hold true to their promises.
This behavior eventually crosses an employee, causing them to want to seek revenge or justice against their leader. “These leaders apply deeply rooted traits Of expediency, manipulation, exploitation, and deviousness, which are all lacking the traditional ideas (which make a high aspire leader) of trust, honor, and decency. They also use aggressive and devious tactics to achieve goals without the notion of respecting an individual’s feelings, rights, and needs. Thirdly, they succumb to and create unethical temptations which causes them to fall deeper and deeper into unethical behavior trends” (Tang and Lieu, 2011 pig. 00). It should be the goals of a firm to obtain leaders with high aspire in order to moderate the effect hedonism and unethical behavior has upon its employees. If employees are in the firm because it is their true passion, then aspire will not have as great of an effect on them. This means that people should follow the path of their passions, not of money. Hypothesis Three: States that the love of money is directly related to unethical behavior intention. Methodology We have taken the following hypothesis concerning the love of money being directly related to unethical behavior and surveyed it among business students. The students completed 22 surveys over the semester in order to receive participation credits. The students completed two questionnaires, one a six-page survey in the beginning of the semester and then a four-page survey four weeks later. (The first survey will be labeled time 1 while the second time 2). The students were asked to confidentially write their personal identification code (using only the initials of their full name and the sat four digits of their social security’ number, e. G. , ABACI 234) on both surveys in order to match the two parts.
These steps may avoid the possible impacts of fatigue and memory and enhance the psychological separation” (Foodstuff et al. , 2003). “The following data was collected from 198 business students and 100 psychology students (128 male and 70 female). There were 165 male and 133 female students in the overall data surveys. The means, SD, and correlations of variables are presented in Tables and II” (Tang, Chem., 2008, In an effort to present results that are measurable, we are using a five-point call to rate the various opinions on the different variables concerning the love of money and its connection to unethical behavior.
For the love of money and Machiavellian the scale will be ranked as follows: (1) strongly disagree, (2) disagree, (3) neutral, (4) agree, and (5) strongly agree. It is clear that there is a strong connection between unethical behaviors related to the probability of the likeliness of an individual to engage in corrupt acts, the scale of probability will be ranked as follows: (1 ) very low, (2) low, (3) average, (4) high, and (5) very high. For each question, the student Will be asked to oneself respond regarding how they would react in the given scenario.
Measurement of Results If teaching ethics to young people alters the students’ unethical behaviors, then the teacher does have the control to influence students from engaging in such behavior; the choice is in the hands of the student, but exposing the students to ethical verse unethical behavior will help student ere to the side choosing ethical behavior. On the contrary, if the student’s unethical behaviors are not affected by the learning of ethics, then the teacher does not have any control over the unethical behaviors of the students.
Also, if the eve of money and Machiavellian is directly related to unethical behavior, then the relationship between the love of money and unethical behavior is not under the control of the professor. If the two are indirectly related, then the professor does have influence over the relationship be;en the two. Outcome for Hypothesis 1 The data gathered proved that there was a higher percentage of males who answered that they would act unethically, opposed to females.
Also, the data showed that business students were more likely than psychology students to be directly influenced by the love of money. From this study, we can conclude hat business students reconsider unethical behavior after being exposed to information from class on the topic of ethics. This proves the previous point that education can and will help students understand ethics and potentially change their behavior as a result.
This shows that the teaching of ethics is important because it can directly affect the way in which students perceive ethics and the love of money; therefore, they can positively influence the younger generations by emphasizing the importance of ethics in class lectures. Hypothesis Two: Unethical behavior is more likely to be chosen in males due to the love of money. Methodology Because the love of money is more likely to hold stronger importance in males, we believe they are more likely to practice unethical behavior than females.
Even though results are mixed about males Machiavellian scores compared to those of females scores (Tang and Chem., 9), male students have higher concerns about career advancement and are at least twice as likely to engage in unfair practices as their female counterparts (Beet et al. , 1 989; Mammalians and Berger, 1996). For the testing of the population, Tang and Chem. selected a sample of business students in the Principles of Management euros for juniors by the Department Of Management and Marketing in the College of Business as the experimental group.
To bring contrast, the control group was psychology students in the Basic Statistics for Behavioral Science course, for juniors by the Department of Psychology in the College of Education and Behavioral Science. The business students were asked to complete twenty-two various surveys or activities throughout the semester. They were asked to fill out a six-page survey at the beginning of the semester and then a four-page survey a month later.
