Final answer:
Reporting unethical internal business conduct and known or suspected violations is crucial for maintaining ethical standards and preventing harm. Recent legislation has protected employees' rights to lodge complaints against their employers, encouraging companies to address and correct violations. The Firestone/Ford tire controversy serves as an example of the serious consequences that can arise from unethical behavior.
Step-by-step explanation:
Reporting unethical internal business conduct and known or suspected violations is important for maintaining ethical standards and preventing harm to employees and the public. Employees have the right to lodge confidential complaints against their employer if they witness misconduct or violations that endanger their health and safety. Recent legislation has made it mandatory for companies to address and correct these violations to avoid fines from the government. For example, the Firestone/Ford tire controversy demonstrated how unethical behavior can lead to serious consequences, including accidents, fatalities, and financial losses.