Business Ethics & Social Responsibility
Ethics are a set of moral principles which are recognized in respect to a particular class of human actions or a particular group, for instance the medical ethics, legal ethics, teaching ethics, business ethics that brings together people of the same profession. These principles deal with values relating to human conduct with respect to concepts such as being good or bad, decent or shameful, right or wrong etc. These values guide members of a group to act in a manner that is consistent with the values and standards as established.
Business ethics are those virtues that business people apply when making business decisions. They are the standards expected within the business world, even if they are not written down and which business people ought to adopt. For instance business people are expected to afflict least suffering to their customers, being fair in their dealings and nurturing an enduring virtuous corporate character in totality. Business ethics are important because they keep business people to operate within a moral and legal pedestal which not only leaves them satisfied internally but also increases sales because most people like dealing or doing business with honest businessmen.
Good business ethics should be embraced by all businessmen because engaging in unethical practices, which may include breaking the law, may lead to heavy fines or lack of trust by members of the public. Some of the business ethics include the following:
• Being trustful by recognizing that customer is the “king”. Customers want to do business with companies they trust and which they perceive to be showing them respect. When a business entity is trusted, it creates a loyal clientele.
• Business people should be ready to meet the obligations of their customers and business partners regardless of anything else. Business people should offer their end of the bargain at all cost because this is the only way to strengthen customer and business partner 's loyalty.
• Engaging in
Business ethics are those virtues that business people apply when making business decisions. They are the standards expected within the business world, even if they are not written down and which business people ought to adopt. For instance business people are expected to afflict least suffering to their customers, being fair in their dealings and nurturing an enduring virtuous corporate character in totality. Business ethics are important because they keep business people to operate within a moral and legal pedestal which not only leaves them satisfied internally but also increases sales because most people like dealing or doing business with honest businessmen.
Good business ethics should be embraced by all businessmen because engaging in unethical practices, which may include breaking the law, may lead to heavy fines or lack of trust by members of the public. Some of the business ethics include the following:
• Being trustful by recognizing that customer is the “king”. Customers want to do business with companies they trust and which they perceive to be showing them respect. When a business entity is trusted, it creates a loyal clientele.
• Business people should be ready to meet the obligations of their customers and business partners regardless of anything else. Business people should offer their end of the bargain at all cost because this is the only way to strengthen customer and business partner 's loyalty.
• Engaging in
Bibliography: Griffin, Ricky W. "The Ethical & Social Environment." Management. Boston: Houghton Mifflin, 2008. 86-108. Print. "Jack-in-the-Box/ Bad Meat - The Nader Page." The Nader Page. Web. 1 Apr. 2010. . Miller, Roger LeRoy., and Gaylord A. Jentz. "Ethics & Business Decision Making." Business Law Today: the Essentials : Text & Summarized Cases : E-commerce, Legal, Ethical, and International Environment. Mason, OH: South-Western Cengage Learning, 2011. 43-59. Print.