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...
... middle of paper ...
...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.
Need Writing Help?
Get feedback on grammar, clarity, concision and logic instantly.Check your paper »
- 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.... [tags: productivity, organization, leadership]
1310 words (3.7 pages)
- Question 1: Explain the importance of ethics and values in business sustainability. In order to understand the importance of ethics we first need to understand what ethics is. Ethics can be defined by Hornby as “moral principles that govern or influence a person’s behaviour”. It deals with an individual’s or business’s behaviour so it is therefore related to businesses. Business ethics can be defined as “written or unwritten codes of principles or values that govern decisions and actions within an organisation”.... [tags: code of conduct, leadership]
2057 words (5.9 pages)
- ... King emphasized that organizations need to take into account the environment, social impacts and profit for internal stakeholders. The internal stakeholders would be the employees, stakeholders and managers. As part of the sustainability of a business in terms of ethics and values, businesses that have a good ethical conduct also undertake the responsibility of corporate governance. Social responsibility is one of the most important factors when it comes to performing and undertaking the correct ethics and values of the business in order to promote the sustainability of the business.... [tags: business management, sustainability]
2152 words (6.1 pages)
- Per Wikipedia, Ethics (also known as moral philosophy) is a branch of philosophy which seeks to address questions about morality; that is, about concepts like good and bad, right and wrong, justice, virtue, etc. According to the Miniature Guide to Understanding the Foundations of Ethical Reasoning, “The proper role of ethical reasoning is to highlight acts of two kinds: Those which enhance the well-being of others—that warrant our praise—and those that harm or diminish the well-being of others—and thus warrant our criticism.” I think that is amazing how history seems to always repeat itself.... [tags: ethics, business]
1442 words (4.1 pages)
- 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.... [tags: Ethics, Business ethics, Business, Management]
1429 words (4.1 pages)
- Introduction Ethics is referred as the standards of right and wrong. It is the study of own moral belief and moral conduct. Ethics play a major role in business. In today 's society, acknowledging and exercising the ideas of ethics is a fundamental factor that many organizations stress among business. The expression “good ethics is good business” is often frequently discussed. It 's been suggested that the topic is not strange in business. Business ethics is an application of ethics in general. The field of ethics is associated with what is right and wrong.... [tags: Ethics, Business ethics, Morality, Decision making]
1866 words (5.3 pages)
- Northcentral's Mission Statement, Vision, and Values statement conveys that the institution and all of its personnel are committed to facilitating the learner's success in business, as well as, out in the world. Northcentral is an opportunity to gain enlightenment and wisdom. The professors are trained in their personal careers and deliver their knowledge to the learners. It is also a learning experience for the professors as they learn from their students. The University as a whole facilitates learning by giving all the tools necessary to be successful, however, the students must do their part, too.... [tags: Business Ethics ]
970 words (2.8 pages)
- Business Ethics and the Global Dimensions of Business This inclusive analysis was developed after an initial consultation with the C.E.O. of XYZ Construction, Inc. where the implications of expanding the construction company into Asia were discussed. The issues to be examined are the varied aspects of implementing a global business expansion. Time wise there is market potential for this opportune endeavor. However there are potential difficulties and risk that need to be considered before an international expansion is implemented.... [tags: Business Ethics ]
1404 words (4 pages)
- International Business The business world has always relied heavily on contractual agreements while conducting business. These contracts while written in ink, are set in stone. Once your business partner signs his/her name on the dotted line the pact has been sealed and nothing else needs to be said. But what happens when you take away the physical contractual element and everything is agreed upon through one's word. The world of business ethics is an old discipline in most parts of the world, and in most cases, is applied to the everyday business world.... [tags: business ethics, business morality]
1640 words (4.7 pages)
- Outline : A) General overview. B) Utilitarian theory. C) Kant theory. C) Rawls theory. D) Conclusion. Foreword: This research paper discusses theories in business ethics. It also considers three cases that illustrate ethics principles violation. Thesis: Nowadays in the era of economic relations and international trade business ethics plays a very important role. Nowadays in the era of economic relations and international trade business ethics plays a very important role. It is of vital importance at any level of activity: corporate, state or international.... [tags: Business Ethics]
1776 words (5.1 pages)
- The Impact of Poverty on the Health of African American Children
- Plath: A Pioneer for Feminism
- Eight Stages of Genocide Compared to Dog Breed Bans
- Ralph Waldo Emerson: Aspects of Transcendentalism
- The Cost of a College Education vs. the Financial Return After Graduation
- Misunderstood Minds: ADHAD in College Students