Business Ethics And Competitive Advantage

1085 WordsMay 16, 20165 Pages
A strong ethical culture is important to a company reputation and having good business ethics can lead to a company having a competitive advantage. Having a good ethical culture helps create a brand that attracts top talent and builds trust among shareholders. Business ethics has been defined as one of the invaluable intangible assets for companies competing. Companies are able to create a global sustainable competitive advantage when they implement a strategy that other companies cannot imitate. Furthermore, companies must make change in order to achieve a sustainable competitive advantage. An organization culture stands out as one of the most important factors that are in sustaining a competitive advantage and it is one of the reasons a company want to become a great place to work. Competitive Advantage Competitive advantage refers to a dominance gained by an organization that allows it to outperform its competitors. This can be achieved by exploiting appropriate value adding opportunities and/or reducing appropriate risks. Business ethics and competitive advantage involves building effective relationships with a company shareholders based on honesty and integrity that continue such relationships. Ensuring a sustainable and compelling competitive advantage is the key to winning with the customer and growing market share. Achieving a competitive advantage is when a company chose which segments to pursue and which brand attributes to the present in order to win. In
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