The Ethics Of Business Ethics Essay

1097 WordsSep 22, 20165 Pages
Resource A discusses how ethics is crucial in business. There are three key ideas used to understand this. Firstly, making ethically wrong decisions tend to cause more upset than other general mistakes as purposeful unethical actions are not as easily forgiven or forgotten. Secondly, ethics provides businesses with a broader understanding of everything to do with their business. Business ethics is effectively just business it its larger human context. Thirdly, being unethical can tarnish the public image of a business which can lead to a drop in sales and profits. There is a myth in the business world that business and ethics don’t mix. The reason ethics are considered to be relevant to the bottom line is that regulation is the price business pays for bad ethical strategy. The whole point of business ethics is essentially to define and defend the basic goals of prosperity, freedom, fairness, and individual dignity. This goes along with the 3 C’s of business ethics; compliance, contribution and consequences. Business ethics are the foundation of business, despite business thriving on competition, it survives on the basis of its ethics. Comparing business with a game (practices) makes it easier to understand things like for example how having ‘players’ who cheat can impact badly on the business. Ethics is a way of thinking which can defined under Solomon’s eight rules. Resource A provided me with a lot of new information about how important ethics really is to

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