Ethics : The Principles Of A Culture Individuals, Organisation Or Groups

What is importance of ethics in business? Provide examples with theoretical answers. (Maximum of 500 words)

Ethics is the moral principles that govern a person's behavior or the conducting of an activity. It is the moral values that a person believes in. The way that a person interacts with others. The golden rule of treating others how you would like to be treated. Having good ethics is a basis for having a successful business.

Ethics by definition is a system of moral principle. These principles affect how people make decisions and the choices they make in their lives. Ethics shape the way we live and what we do through our choices. All of us make ethical decisions on a daily basis which inform who we are and our morals.

To conclude, business who are ethical get more business as the customers are loyal to them and trust them for example, if there is a new product in the market; it would take a long time for the customer to trust that product however if you have been ethical in the past the customers would buy the

Webster’s Dictionary defines ethics as “a set of moral principles: a theory or system of moral values.” (Merriam-Webster, Incorporated, 2011). Every person has ethics that he or she lives by, but sometimes in the business world many unethical business transactions occur. People do not realize that sometimes the statistics that he or she are fed have been falsified in order to get him or her to purchase a product or lure him or her in to participate in via false promises.

Ethics are principles of behaviour that distinguish between right and wrong. Resnik (2011) defines ethics as” a method, procedure, or perspective for deciding how to act and for analysing complex problems and issues” (p.1). People face ethical decisions; however, People working in business frequently face ethical decisions. Business ethics is the evaluation of business activities and behaviour as right or wrong (Society for Business Ethics, 1991).

Ultimately, businesses exist to make a profit for their owners and shareholders. In most cases, ethical behaviour adds expenses to the business, reducing profits. Profits are a good thing - they ensure that people have jobs. The smaller the profits, the fewer income tax dollars are paid, which would hurt government programs.

Ethics refer to the values that guide a person, organization or society - - the difference between right and wrong, fairness and unfairness, honesty and dishonesty.

Ethics involve an individual's moral judgments concerning what is right and/or wrong. Individuals or groups of people are responsible for making decisions in an organization (shaw, 2008). Decisions within the organization are always emanate from the company's culture. However, the decision to act ethically and morally requires an individual judgment. Thus, members of staff are obligated to make decisions that reflect their right course of action (shaw, 2008). This involves rejecting the option that could lead to the greatest short-term gain. The leadership of most organizations stresses the need to adopt ethical behaviors and corporate social responsibility. Ethical dealings can earn the organization various benefits. For instance, it may attract more clients to the business thus boosting sales; employees could be motivated to stay longer in the organization thereby reducing recruitment expenditures. Ethical behaviors could also earn the business a favorable reputation that could attract investors. Categorically, a lack of social responsibility or unethical behavior may hurt the firm's reputation and scare away investors. Sales and profits could fall in the process.

Ethical consideration is required when conducting business in the 21st century for many reasons. First of all, there is nothing wrong from being ethical, in the contrary you will gain people’s trust and chances for your company to be more reputable are much higher.

Ethical behavior and business performance are related in many ways. Several companies lose a good amount of customers within a short period due to lack of solid ethical procedures in the organization. Bad behaviors damage corporate performance in an organization, employees should be allowed to develop their career and organization should be actively involved in supporting such objectives. Stress and pressure on employees can lower workers performance, turnover

Ethics, a moral principles that govern a person's behavior or the conducting of an activity. In todays over sensitive society, it is more important than ever for an individual to pay more attention to their own ethical behavior, and if in the power of position the behavior of those they oversee.

Ethics are the moral principles that govern a person's behavior or the conducting of an activity.

Ethics- is defined as the moral principles and values that govern a person’s behavior or the conduct of activity. The basic concepts and fundamental principles of decent human conduct. It includes study of universal values such as the essential equality of all men and women, human or natural rights, obedience to the law of land, concern for healthy and safety and, increasingly, also for the natural environment. Meanwhile, ethical behaviour is the exhibition of decent human conduct with morality while demonstrating respect in ways consistent with society values which tends to be good for business. Perhaps,

Ethical behaviour is what all career people should aim to have. Not just the ethical attribute but exceptional behaviour with this regard.this is because in order to build a career, one must be governed by the rules of ethics to safeguard oneself and others. Ethics are essential in the workplace because a tough ethical code provides a non-threatening environment with high