Ethics refers to human conduct as to make judgments between what is right and what is wrong. It could be that there are several factors that may encourage one to adopt unethical behavior, but the right person is he who, despite facing ethical dilemmas, assesses the situations and makes differentiation between what is morally good and bad in order to follow the rules and code of professional conduct. Good ethics causes to gain confidence of superiors while promoting integrity, which means to continue doing right things even when we are not being watched. Now coming towards the importance of ethics in business, it’s very important. In today’s corporate world ethics is something which is non-existence. I honestly believe that whatever business you do, if you hold one principle, this world would benefit a lot from it. This principle is bringing win win situations to both suppliers, and your employees. It is only through these, royalty and faith slowly develops. I believe the fundamental principal in business ethics is to be true to your workers, clients, and customers in all your actions. This is the only way to create a sustainable business that customers will love buying services/products from, workers happy working (with reasonable benefits). Ethics in business world is a wide topic to explain, But the basic concept is: 1. It prevents unethical acts in the organization's workforce --- top management as well as workers. 2. Employers ethics programs help employees to solve ethical problem they faced in working with co-workers. 3. Management themselves also bar from unethical acts like showing wrong accounting summary and profits. 4. It also helps to build collaborative environment among workers. A business cannot claim to be ethical firm if it ignores unethical practices by its suppliers – e.g. * Use of child labor and forced labor
* Production in sweatshops
* Violation of the basic rights of workers
* Ignoring health, safety and environmental...
Please join StudyMode to read the full document