The Importance of Ethics and Values in Business Sustainability

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Business Management Research Assignment (chapter 5 & 11)

Q1: The importance of ethics and values in business sustainability:
Ethics has to do with an individual’s judgment and their morals. Their ethics help us determine right from wrong. “Values are attitudes towards things like truths, justice, honesty etc.”( Nieuwenhuizen, Oosthuizen & Drotskie 2012:95)
Ethics and values are important within a business organisation because they influence morals and decisions within an organisation and need to be present in order to promote business sustainability. The decision to behave ethically is a moral decision and employees need to decide what is right and wrong in the organisation even though the decisions may be difficult it still needs to be done. The ethical decision making contributes to sustainability because the employees values and ethics will ensure the organisation generate the biggest profit possible ad at the same time keeping a good image for themselves. An example of this could be a cologne company such as Versace and they decide to test their new cologne on monkeys, this will make the public not want to buy the product because it was not produced in an ethical way so the organisation won’t generate maximum profit as whereby if they were ethical in their produce which would have ensured the business organisation to be sustainable.
Ethics can influence a business a business positively and negatively. If the employees are ethical and follow the organisations culture then it will benefit the business:
• Public image- if the organisation behaves in an ethical manner then the organisation will earn a lot of respect and this will bring in a lot of customers so more products and services will be sold leading which increases sale...

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...of business ethics. Available: http://t.answers.com/answers/#!/entry/what-is-the-importance-of-business-ethics,4ff8e1be7af68a84dcf37fea/2. Last accessed 23 Apr 2014

5) Alejandro, R. (2014). The Benefits & Importance of Ethics in the Workplace." Everyday Life. Available: http://everydaylife.globalpost.com/benefits-importance-ethics-workplace-7414.html. Last accessed 23 Apr 2014.

6) Cadbury, S. (2002). Ethical Business Practices A Cadbury Schweppes Case Study. Available: http://businesscasestudies.co.uk/cadbury-schweppes/ethical-business-practices/the-importance-of-ethics-in-business.html#axzz2ze57H7x9. Last accessed 23 Apr 2014.

7) EMCC. (2004). Transforming organisations - the importance of leadership and culture in managing change. Available: http://www.eurofound.europa.eu/emcc/content/source/eu04006a.htm?p1=reports&p2=null. Last accessed 23 Apr 2014.

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