Ethics In Business Ethics

Introduction

Ethics can be defined as knowing the difference between what is moral and what is immoral but decide on doing what is moral (Nieuwenhuizen & Oosthuizen, Ed, 2014: 93). Unethical business conduct can damage the organisation’s reputation and therefore result in loss of sales and profits, which will consequently result in failure in the long run. Stakeholder’s interest in business ethics is constantly rising and therefore puts pressure on businesses to up their standards in displaying ethics to all stakeholders through good governance, good ethics and social responsibility in order to ensure sustainability. Organisations should therefore take into consideration all the elements of triple bottom line. Leadership is the ability of a person to motivate others in the organisation in order to ensure success in the corporation. All corporations require good leaders who will ensure that the organisation’s mission, vision, goals and objectives are achieved and to keep all employees motivated.

The importance of ethics and values in business sustainability

‘Business ethics can be defined as written or unwritten codes of principles or values that govern decisions and actions in the organisation’ (Nieuwenhuizen & Oosthuizen, Ed, 2014:93). Business ethics therefore attempt to outline the responsibilities and ethical duties of organisations, whereas ethics, in general, are concerned with what is moral and right for the society (Sustaining business ethics, n.d.)

“According to pizzani (2008), sustainability in business context indicates the ability of organisations to meet the needs of customers and market today while not hampering or limiting the ability of future generations to meet their own needs” (Nieuwenhuizen & Oosthuizen,...

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...0Ethics.pdf (ACCESSED FROM 14 APRIL 2014)

Cadbury scwheepers corporate and social responsibility report, (2002) The importance of business ethics, [Online], Available at http://businesscasestudies.co.uk/cadbury-schweppes/ethical-business-practices/the-importance-of-ethics-in-business.html#axzz2wHofdvEH (ACCESSED FROM 17 MARCH 2014)

Santander corporate & commercial (2014) The benefits of an ethical business: break through, [online], available at http://www.santanderbreakthrough.co.uk/advice/csr/benefits-ethical-business (ACCESSED FROM 14 APRIL 2014)

Tata steel (1995-2014) Business ethics and sustainability in the steel industry :sustainability, [Online] , Available at http://businesscasestudies.co.uk/tata-steel/business-ethics-and-sustainability-in-the-steel-industry/what-are-business-ethics-and-sustainability.html#axzz2wHofdvEH (ACCESSED FROM 17 MARCH 2014)