My personal standpoint in dealing with an ethically correct business would instill trust into the business. If I knew they weren’t handling things internally or externally the correct way my view and opinions would go down. When a business practices good ethics they are informing your consumer base about the decisions made. According the Business Ethics in the 21st Century, “I conceded that business may have an obligation to educate consumers about the environmental impact of the decisions they make.” (Bowie, 2015). Another reason to educate consumers about decisions made is that it shows the business is standing behind its decisions and supporting them.
Businesses need to display their ethics in order to convey the message towards future and current employees. While being ethical, employees would be treated fair based upon their actions and position in their profession. Employees would be able to trust in the business that they work for in knowing that if there were any problems, questions, or even suggestions that they would all be heard and dealt with appropriately and correctly. By having a strong employee base, that displays the business is concerned with treating people fair and takes into account their wants and needs. Consumers can also view the treatment of employees to be a portrayal of how they potentially would be treated.
As a potential investor looking into investing in a ...
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... or pretend to do things that they didn’t do such as community service, volunteer work, donating and anything of the like. They wouldn’t be holding themselves socially responsible.
In conclusion, without good ethics in business it truly cannot thrive. It is a continuum of consumer to business to consumer and back again. Without trust, investors won’t invest which wouldn’t help expand businesses, stakeholders wouldn’t put themselves at risk with a faulty business, employees wouldn’t want to work in that type of environment, as well as consumers wouldn’t want to help fund such an organization. As stated in the book, Business ethics as practice, “Many companies have invested considerable time, money and effort on the development of ethics management programs”(Cremer, 2012). Therefore, I believe for those reasons, that ethics is a great fundamental asset for business.
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