Religion : an Essential Business Ethics Elements in Curbing Corporate Failure

Introduction

Ethics or also called moral philosophy, is define in Wikipedia (2015) as the branch of philosophy that involves systematizing, defending, and recommending concepts of right and wrong conduct. Ethics is defined as the principles and values an individual uses to govern his activities and decisions. Business ethics is defined as a code of ethics is a set of principles that guide the organization in its programs, policies and decisions for the business. (Kelchner, 2015). Thus, it is important to have code of ethics in all organizations as ethics is carry many important values that can benefits the organization

Ethics is an inner values of an individual which can be seen unless through the implication by their unethical actions. This is a big challenges for managers or top managers to make their low-level employees to being ethical and follow the code of ethics all the time. According to the article of Russell (2015), reports from nonprofit organization stated that young workers are more likely to perceive weak ethical cultures within their companies than older ones and managers tend to value stronger ethical cultures than employees in nonmanagement positions. This is shows that it is top management duty to promote ethical values to their low-level employees by being a good role model for them. When leaders have high ethical standards, it encourages workers in the organization to meet that same level. (Kelchner, 2015).

Moreover, a solid reputation ethics plays important roles and integrity in the community helps to improve company’s business such as enhances the company's reputation in the financial market community, gain employee's honesty and loyalty, increase productivity and teamwork among employees and strong public image. A positive morale among workers in the organization, which may increase productivity and employee retention. Higher levels of productivity improve the efficiency in the company, while increasing employee retention...