Business Ethics In Business

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Explain the importance of ethics and values in business sustainability Ethics, values and sustainability are three very important aspects to consider in any business. Ethics can be defined as moral principles of which a person behaves. These can therefore be categorised as individual ethics. Every individual has their own ethical beliefs. These ethics therefore influence ones feelings towards, for instance, a business. A person may choose to do business with an organisation based on many factors. If an organisation fails to appeal to a person, most likely due to business conducts being in contradiction with one’s ethical beliefs, that organisation has lost a customer. This then in turn results in the business being negatively affected due to it not being able to accommodate a vast array of individual ethics. Furthermore, ethics can be categorised into business ethics. Business ethics can be defined as expressly or tacit codes of principles that govern decisions and actions done by the business. Every business, big and small, has their own codes of ethics which are there to be followed and implemented. Ethics in businesses are not always, although they are very vital. So a question may be raised, are business ethics, or individual customer ethics at that, of great importance? To find this answer, a look at Nikes controversial “sweatshop” saga would be a good reference. Bob Herbert, a New York Times columnist criticized Nikes labour conditions by writing a bold article in 1996. Nikes production was done in low labour cost areas, this obviously minimising its expenses, and increasing profits. Bob Herbert called the factories in which Nike produced its footwear “sweatshops” and called the workers “slaves”. This did not paint a pret... ... middle of paper ... ...d have to be shared on a broad scale. Each employee would want to have their say, this resulting in slow information transfer and a slow decision making procedure. On the other hand, an organisation with a leader, will not suffer the misfortunes of a leaderless organisations. An organisation with a leader will be better structured and better equipped to take on many challenges posed to it, as compared to leaderless organisation. The role that leaders play in an organisation should never be be underestimated. A leader brings about harmony within an organisation. The leader, being neutral, will be able to monitor and control all the happenings within the organisation. One can reach a conclusion and say that leadership is of great importance when it comes to the success of business organisations. Moving forward without guidance is just as bad as having a bad leader.

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