Ethics Of A Good Business Ethics Essay

Ethics Of A Good Business Ethics Essay

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Ethics has become a vital part of teaching and learning in academia and the business world over the last 15 years. In the past, business ethics was rarely discussed or talked about with an exception of maybe a chapter in a business book. However, since the public meltdown of Enron many institutions and businesses have made greater strides in educating their students and employees about the importance of practicing good business ethics. When referring to good business ethics, I mean best practices. Treat every situation with everyone’s (company and employees) best interest in mind. Treat everyone fairly and consider all consequences and come up with the best possible outcome. Institutions have realized the importance of educating young entrepreneurs, students, future executives and mangers the benefits of practicing good ethical behavior. Businesses understand that ethics is closely related to profits. There are many benefits associated with operating under good ethical behavior such as a favorable public perception which attracts customers and increases revenue, increase employee retention eliminating recruiting cost, and attracts other investors. Everyone wants to be a part of a quality business ran fairly and with integrity. Businesses are formed to generate profit; without proper foundation surrounding a quality code of ethics policy many businesses will fail. There are four ethical behaviors that must exist for any company to effectively sustain longevity in an industry such as; are they built on personal ethics, does the boss lead by example, does the company treat everyone fairly, and lastly does the company maintain their integrity at all costs?
The mantra “treat people, as you would like to be treated” is the ...

... middle of paper ...

...tuations effectively. I would have bullet points such as treat everyone with respect, compete fairly, respect confidentiality, conduct business with tact and dignity, stay in compliance, respect the working environment, drugs and alcohol is not permitted, theft is prohibited, and help one another.
In closing, business ethics is at the forefront of every business transaction and is prevalent in our daily activities. The Enron to the FIFA soccer scandal are examples of negative business ethics policies and procedures that were not taking seriously. If these organizations practiced a strong positive code of ethics policy such as fairness, integrity, and personal ethics; I doubt these situations would have transpired. Unfortunately, not everyone believes in strong business ethics behavior but the benefits of practicing good business behavior far outweigh the cons.

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