The Importance Of Business Ethics

Business ethics should be followed in daily activity within the workplace. Thus, business ethics is necessary for an organization's success. In fact, business ethics is an issue underlying the cause of failure to companies; due to, unethical behavior and lack of corporate social responsibility (Floyd, Xu, Atkins, & Caldwell, 2013). The following section discusses why business ethics should be followed in daily activity within the workplace. With this in mind, the subsequent section explains why ethical behavior and corporate social responsibility; indeed, can improve business performance and company success. Furthermore, the following sections explain why ethical problems occur business and the elements of ethical behavior. First, the following sections explains business ethics and why following them is essential to an organizations success.

Business Ethics

Notably, standards conducted in business; in fact, resembles the conception of right or wrong. Truly, ethics indicates weather are behavior is moral or immoral. Furthermore, values ultimately, identifies the fundamental human relationships. Thus, business ethics is critical for a business to succeed (Floyd, Xu, Atkins, & Caldwell, 2013).

As there is a variety of arguments of why business ethics is essential to an organization; indeed, one of the most important reasons is enhancing business performance (Floyd et al., 2013). Clearly, numerous of empirical studies displayed benefits of being perceived as an ethical business. Researchers found a significant relationship between corporate financial performance and ethical performance (Floyd et al., 2013). Thus, companies that are ethical leaders attract and retain the best employees, increase sales and customer ...

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...ess of the nation where they are headquartered, face this kind of ethical dilemma (Jondle et al., 2014). Thus, as business becomes increasingly global, with more and more corporations penetrating overseas markets where cultures and ethical traditions vary, these cross-cultural questions will occur more frequently (Jondle et al., 2014).

Elements of Ethical Character.

Ethical dilemmas in the workplace significantly depend on the ethical character and moral development of managers and other employees (Jondle et al., 2014). Good ethical practices not only are possible, but also become normal with the right combination of these components (Jondle et al., 2014). Thus, the components discussed are as follows; managers values, spirituality in the workplace, and managers moral development. First, the following section explains the manager’s values in the workforce.