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Importance of ethics
Importance of Business Ethics to an Organization
Business ethics and legal ethics
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Sales Ethics Ethics are seen to the basic principles which are needed for the governing of behaviors. Ethics are not merely laws because they are not at all enforced by the governmental statutes. Ethics are seen to be going something beyond these laws. If a high level of ethical behavior has been enforced then it will also compel the individual in behaving in a truthful way. Ethics has wide implications in all fields of life. Ethics are seen to be realty important and values for the salesperson because he or she is the face of the company. Customers are also evaluating the company and its working based on its ethical standards. Salespeople need to make sure that they are having trust and valuing the customer relationship the most. It is also true that there are cases when businesses are experiencing the issues of legal laws and rules. In this way, the customers become distrustful of the company and also stop purchasing its products (Brass, 1998). This can then eventually result in the decrease of the Company’s profit.
The most important aspect is that even an unethical behavior of one salesperson could result in the undermining of the whole company’s reputation. There are some illegal selling activities which are found to be crossing the line. This means that the salesperson is seen to be misrepresenting the truth. The real attributes and properties
Even the cosmetics would not appear to be very glamming and catchy and therefore this would eventually effect the sale of many of the products. Hence if puffery tends to get eliminated, the markets will only be left with the literal descriptions of the products and this literal description won’t be very effective nor will be very glamorous (Sangita,
Reputation is a company’s biggest asset so you would think that organisations would avoid engaging in any sort of business that would put its reputation in jeopardy. Nevertheless, many organisations find their credibility destroyed due to practices that are harmful and illegal, which could land a CEO’s in prison.
In business it is important the a company establish some clear order of business when dealing with business ethics. Ethical business practices can build customer relationships. Unethical business practices can cause a business to lose customers. In this case study the reader will be come familiar with the ethical practice of a Red lobster store in Pleasant Hill, Pennsylvania.
As in any other discipline that entails interaction with individuals, the aspect of ethics must include a conscious principle. To define ethics in its simplest form, it is known as the ability to distinguish right from wrong. In the movie, the sudden pressure from management drives the company’s salesmen to increase sales with no regards to ethics in order to maintain job security. All of the main characters had made their fair share of unethical decisions, out of desperation, to increase their sales and ultimately to keep their jobs. The degree of each decision can be left for viewers to determine the level of appropriateness based on their own values. Personally, although all characters have made unethical decisions, the most ethical salesman was Ricky Roma. Ri...
Ethics or rather morals entail mechanisms that defend, systematize as well as recommend conceptions of right or wrong. Many organizations develop ethical codes to ensure employees and employers understand the difference in doing good or bad. In that respect, ethics are an essential aspect of successfully running of any organization or government. Ethics ensure employee’s productivity levels are up to the required standards. It also assists them to know their rights and responsibilities. Additionally, employers, as well as any persons in management, are guided by them to ensure they provide transparent leadership. Ethics also defines how customers should be handled. Ethical codes govern the relationship between customers and an
Explain the connection between the economic model of corporate social responsibility and “free market” or “neoclassical” economic theory.
Ethics is a principle or a moral value every business should have. The way a business runs keeping in mind how the workers are being treated, how its products affect people and whether or not it’s is sustainable in the environment falls under
Ethics in business is a highly important concept, as it can affect a company’s profits, salaries paid to employees and CEOs, and public opinion, among many other aspects of a business. Ethics can be enforced by company policies and guidelines, set a precedent when a company is faced with an important decision, and are also evolving thanks to new technology and situations that arise due to technology usage. Businesses have a duty to maintain their ethical responsibilities and also to help their employees enforce these responsibilities in and out of the workplace. However, ethics and the foundation for them are not always black and white. There are many different ethical theories, however Utilitarianism, Kant’s Deontological ethics, and Virtue ethics are three of the most well known theories in existence. Each theory is distinct in that it has a different quality used to determine ethicality and allows for a person to choose which system of ethics works best with both the situation and his or her personal ethical preferences.
Marketing is a system of business activates designed to plan, price, promote and distribute want-satisfying products, services and ideas to customers in order to achieve business objectives. Consumer law protects consumer’s rights in the marketplace as well as fair trading, competition and accurate information. On the other hand, ethical aspects of marketing are about making marketing decisions that are morally right. However, consumer law and ethical aspects of marketing have a lot of advantages and disadvantages in the marketplace, which impacts business 's sales and growth like it happened to: Harvey Norman, Nurofen, apple, etc.
Tyco provides products and services across the world. The company is global and diversified providing a variety of products including electronics, healthcare, fire and security services and engineered products and services. While employing over 250,000 people worldwide they grossed approximately $40 billion in revenue in the year 2005. In 2002 Tyco was involved with the corporate scandal where the management mis-appropriated corporation funds. The previous CEO Dennis Kozlowski was convicted in 2005 on 22 counts of the 23 that he was charged with. This is an example of not only a legal issue of responsibility but also one of an ethical issue that the Tyco Corporation has had to face. In the face of the legal and ethical issues that this mishap had placed the corporation in, Tyco placed Ed Breen in as chairman and CEO. Mr. Breen joined the company in 2002 after the scandal and immediately began the rebuild of the company’s name. With the appointment of Ed Breen and his changing of the company’s ethical standards (to be discussed in the next portion of the paper) he promotes the legal responsibilities of not only the company’s employees but the responsibilities of the suppliers and buyers to report any wrong doing. This reporting also speaks to the ethics of the Tyco corporation employees as well as those of the companies th...
Business ethics are a set of moral rules that govern how a business operates, how people should be treated within an organization, and how business decisions are made. They are a crucial part of employment and in managing a sustainable business, mainly because of the serious consequences that can result from decisions made with a lack of regard to ethics. Even if you don’t believe that good ethics don’t contribute to profit levels, you should realize those poor ethics have a negative effect on your bottom line in the long-run. Every business in every industry has certain guidelines to which its employees must stick to, and regularly outline such aspects in employee handbooks.
Ethics are the driving force behind good business. Every ethical choice made by a professional can and will have a much different outcome than any unethical choice. Bad ethics can ruin many aspects of a business and as (Gaye-Anderson, 2007) states how quite easily the lives and professional reputation of the employees can even be severally damaged (para. 3). Everything from morale to motivation can be severely affected by poor ethical choices. Customers will take their business elsewhere. Employees will abandon ship. Other, competing businesses reap the benefits of the bad moral choices. Ultimately, the entire business can be brought down by one poor ethical choice.
Ethics are moral principles or values that govern the conduct of an individual or a group.It is not a burden to bear, but a prudent and effective guide which furthers life and success. Ethics are important not only in business but in academics and society as well because it is an essential part of the foundation on which a civilized society is built.
In the business world there are many fundamental aspects and situations that can lead to several issues. In order to find an optimal and professional solution, business decision makers need to apply moral and ethical standards. And it is at that moment in which business ethics perform its role. Business ethics, which is in charge of examine how companies and individuals should act in business situations, is very essential in order to reach a common agreement and to work within the laws of business and solve an arisen dilemma. Working of the hand of ethical business companies, employees, investors, directors, and even individual officers can be beneficiated and obtain most favorable outcomes.
As mentioned earlier, ethical business communication takes different forms, such as management of staff and employees to suppliers and customers. A wide range of writing exists with the significance of ethics in business communication; most disappointments in business credit to the absence of morals in their business operation, and affirm that ethics is the basic achievement of authoritative development and achievement elements. It's basic as building associations with partners and utilizing moral practices. The believability of the association assumes a part in guaranteeing productivity. It can be said that ethics are a vital segment in business achievement. Since business contacts is likewise the center of business procedures, then, ought to be joined morals in business correspondence procedure to make certain long haul gainfulness and great relations with the proprietors of hobbies. Janet and Chaney (2012) mentioned out that there is a direct correlation between ethical business communication and customer loyalty. Ethical business communication plays a role in the development of a loyal customer base because of the ethical manners of the company when it comes to communications command. Ethical business communication helps to create a positive image of the organization in the workplace, which helps in attracting
Ethics is simply doing the right thing. In the business situation ethics are the moral concept of a firm getting through it organizational duties ethically.