Business ethics are the principles, standards, and rules defining what is morally good or bad in an organization. Business ethics enhances an organization’s law by defining acceptable behaviors for the wellness of undertaken programs. Therefore, it generally presents appropriate business policies and practices in the workplace. Ethical consideration suits such businesses in public, private, or non-profit organizations (Velasquez, 2018). The first importance is that ethics enhances consumer satisfaction. Moral behaviors among employees transmit trust to customers. Positive employee behavior boosts customer’s perception of excellent services provided by the organization. Therefore, more consumers will be willing to participate in ethical business than those with low ethical initiatives (Velasquez, 2018).
Secondly, business ethics aids in better decision-making within an organization. When employees respect set ethical standards, management should consider various social, ethical, and economic aspects while making business decisions. Decision-making will be good if the decision is in the interest of consumers, the company, and employees’ long-term benefits (Ruddell, 2014). The third benefit of ethics is that it corresponds to basic human needs within and beyond the organization. The basic need of every man is to participate in an organization they can be proud of and respect because the company is perceived to be ethical. Every customer and employee likes to associate with a business company that is socially honest and responsible for society (Ruddell, 2014).
Business ethics benefits the organization by providing credibility in society or the public eye. Most consumers will like to purchase goods and services from an organization if they believe it is honest and is contributing value for the money. Therefore, public perceptions of such organizations are bound to their success (SOMANI, 2022). Also, ethics protects society better than a country’s legal system. Ethics succeed where the law system fails, as the government cannot regulate all illegal activities. For example, if an organization has an ethically sound manager, he or she can easily agitate employees than even the legal system. In addition, ethical behaviors in an organization are good as they increase business profitability. Being ethical or moral does not hinder the organization from making profits. Every organization aims to make a profit and enhance the functioning of routine activities. Therefore, ethical companies attract many consumers, which defines their profitability status (SOMANI, 2022).
In the future, I would like to have or work with an organization that upholds ethical standards. For its success, the organization should uphold moral standards, including effective communication, obeying its set rules, trust, mutual respect among employees and management, accountability, responsibility, and professionalism. The above ethical standards will attract customers’ trust and increase sales (Ferrellet et al., 2019). For example, if the business organization sells communication devices such as phones, laptops, and earphones, it is essential to formulate ethical behaviors to attract customers. My desired organization should not be hiking sales prices; instead, it should be selling at affordable and standardized prices. As part of the organization’s team, employees and management should employ ethical behaviors among themselves, and this will promote unity and sharing of ideas within the organization. Also, ethical behaviors in an organization are associated with appropriate decision-making, which promotes profitability and protects society’s rights (Ferrellet et al., 2019).
References
Ferrell, O. C., Harrison, D. E., Ferrell, L., & Hair, J. F. (2019). Business ethics, corporate social responsibility, and brand attitudes: An exploratory study. Journal of Business Research, pp. 95, 491–501. https://www.sciencedirect.com/science/article/abs/pii/S0148296318303588
Ruddell, L. (2014). Business Ethics–Faith That Works. WestBow Press. https://books.google.co.ke/books?hl=en&lr=&id=xxhwBQAAQBAJ&oi=fnd&pg=PP1&dq=Rudell,+L.+(2014)+Business+ethics+-+Faith+that+works+(2nd+ed.).+WestBow+Press.+ISBN:+978-1490853024&ots=Do26KCMLqF&sig=VK14dJ_TPmEV0yU54-YAAopctjw&redir_esc=y#v=onepage&q&f=false
SOMANI, P. (2022). IMPROVING BUSINESS ETHICS IN THE NEW NORMAL. International Journal of Social Sciences and Management Review, pp. 182–194. https://ijssmr.org/uploads2022/ijssmr05_12.pdf
Velasquez, M. G. (2018). Business ethics: Concepts and cases. Pearson. https://thuvienso.hoasen.edu.vn/handle/123456789/13198
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