Ethics are the rules or moral principles that individuals or group of individuals agree on and use as aspiration goals (Corey, Corey, & Callanan, 2003). Businesses that enforce and abide clear ethical standards or ethical code of conduct create ethical working environment. Business's ethical working environment creates better reputation that brings more trust and profit from clients and dedication from employees. Companies that operate unethically often are not successful in a long run, they gain negative reputation and distrust from the customers.
"Business ethics is a form of applied ethics that examines ethical rules and principles within a commercial context, the various moral or ethical problems that can arise in a business setting and any special duties or obligations that apply to persons who are engaged in commerce" (http://en.wikipedia.org/wiki/Business_ethics ). Business world or the world of commerce is a competitive world. Just like in sports, competition must have ethical rules that guide businesses.
Businesses are created by people for people and operated by people. Products and services that are produced by the organizations are for the customers. People are involved in all aspects of business world. Human factor must be counted when it comes to business world. This is where business ethics plays a crucial role. For example, telling the truth about the product or the deadline is an ethical dilemma in many businesses. Ethics in Business world help create structures that are inviting for all members of the equation and encourage them to think globally about the future. It generates trust between all the members, grows good reputation, and strengthens interest in each other. This in turn makes the business stronger and more productive.
Business ethics and employees
Ethical environment at a business setting attracts better employees, supports "good will" of the employees which in turn raises the value of the... [continues]
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