Ethics

Introduction

To define business ethics you have think of today’s society and some issues going on today. The ethical issues within today’s business environment are inflated more so now then ever before. The issues have many different effects on our lives and organizations, and of course business. Business ethics is defined as a set of moral principles that regulate what is acceptable and what is unacceptable business behavior for a corporation or business. It is important for business leaders to maintain a high level of ethics in their business and personal lives.

Business Ethics

Ethics, essentially, consist of a set of moral guidelines towards appropriate behavior. Such behavior conforms to professional standards of conduct. The corporate code of ethics consists of a set of moral principles and values that govern the behavior of the organization with respect to what is right and what is wrong. It provides a framework for the operation of ethical conduct in business practices. Such a framework covers all aspects of business and decision-making. Business ethics provide guidelines for acceptable behavior by organizations in both their strategy formulation and day-to-day operations. An ethical approach is becoming necessary both for corporate success and a positive corporate image. Following pressure from consumers for more ethical and responsible business practices, many organizations are choosing to make a public commitment to ethical business by formulating codes of conduct and operating principles.

Ethical issues within today’s business environment

The reasons for this are important, and can range from social influence to commercial trust. If a business is continuously performing bad ethical behaviors, a community will stop trusting them. If a successful business partakes in unethical business decisions, other companies will follow their lead. For these reasons it is very important for businesses to maintain a...