Business Ethics : Ethical And Socially Responsible

1890 Words Apr 4th, 2015 8 Pages
What is needed to help ensure that a business is ethical and socially responsible, and why are these essential to a thriving business?

“It is difficult to get a man to understand something when his salary depends upon his not understanding it. ”
- Upton Sinclair

When people with similar aspirations get together, they form an organization and work towards achieving a common goal. In the corporate world, it is about running a business to satisfy the needs of the stakeholders. In this context, business ethics are moral principles that guide the way we perform business. Usually, the same values that regulate an individual’s actions also apply to businesses. Acting in an ethical way involves distinguishing the “right” from the “wrong” and then making the “correct” choice. Often, it is easy to identify unethical business practices; for example, companies should not should not unlawfully use child labor or participate in corruption. It is not always as easy to create such clear definitions of what good ethical practice is. I believe that having great people simplifies the matter for as Jeffrey Gitomer once said, “Great people have great values and great ethics.” If the very people who constitute and run the business imbibe the spirit of ethics, the sum of the parts would always be greater than the whole and the business would thrive ethically.

If we say that running a business is about people, the ethics of business is about their behavior. Ethical behavior largely depends on…
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