Ethics is grounded on principles of wrong and right that prescribe how humans should act concerning rights, benefits, and obligations to societal virtues. In other words, ethics is what is morally bad and good. Ethics as a subject comprises fundamental aspects of practical decision-making and encompasses the ultimate value through which human behavior can be examined, either right or wrong. Ethics determines the extent of normative theories and their application to practical moral issues (Bonadyseva, 2022). In business circles, ethics encompasses the implementation of business frameworks and policies concerning controversial issues such as fiduciary activities, bribery, insider trading, corporate governance, discrimination and corporate social responsibility.
As humans, we apply ethical concepts in the real world in different ways. Ethics guides our actions in making the appropriate choices that foster the common good for all (Bonadyseva, 2022). Ethics guide humans in telling the truth, assisting the needy and keeping our promises. Ethics aids us in making decisions that create positive concepts and steers us from unjust issues.
Ethical culture can facilitate business leaders to identify the outcomes of ethical culture, such as understanding what is morally right and perceiving the application of one’s values (Huhtala et al., 2022). Ethical culture avails resources that facilitate leaders to solve pertinent ethical dilemmas. Personal-related resources should be applied to boost the effects of individual well-being. For example, if a worker faces reduced levels of ethical culture, there is a need for solid moral interventions. An excellent personal environment may boost personal well-being.
Ethics is a crucial business concept. It is a significant concept for corporations and budding entrepreneurs. Companies should have well-developed ethics programs. The program should cover all corporate departments and functions. As a future business leader, it is important to understand the concepts of ethics (Adair, 2018). Business ethics promote integrity among the stakeholders; partners, employees, investors and customers. The business evades negative implications as stakeholders develop higher trust in the business. The firm develops high trust among stakeholders, thereby ensuring the public equal and fair treatment.
Business ethics is the core driver of employees’ behavior. When businesses develop ethical programs, workers have a high possibility of applying ethical standards in their activities. The employees are lured to perform their duties and responsibilities with high integrity (Huhtala et al., 2022). The ethics program is part of the workers’ workflow. Therefore, the ethics program should be incorporated into all departments’ business operations: human resources, marketing and operations, among others. The program is essential in reinforcing workers `behavioural norms and expectations.
Business ethics improve corporate profitability. Therefore, a well-formulated ethics program is significant in minimizing losses. It is prudent to note that corporations with questionable ethical standards record low stock prices and damaged business partnerships with negative impacts on profitability. Also, business ethics is related to customer loyalty. Customers avoid unethical firms. Actually, business ethics cultivate trust among customers and strengthens brand marketing structures.
Ethical concepts can be applied to future choices made within my business role. I shall foster an ethical environment and behavior in the workplace by treating all workers fairly and equally. In this regard, the author shall be committed to following ethical practices and lure others to adhere to the ethical guidelines. Therefore, I shall strive to do the right things to hold together the firm’s great success. Ethical concepts shall also guide the author in business communications. The good and bad news shall be treated in the same form to facilitate the evolution of workable sound to business challenges. Ethical standards shall be incorporated into the organizational culture for smooth business operations. Overall, business ethics shall shape the ethical culture of the business.
References
Adair, J. (2018). Strategic leadership: Think and plan strategically and provide direction. Pan
https//www.amazon.com>strategicleadership
Bonadyseva, P.R. (2022). The ethics of the categorical imperative. Lossky under the influence of Kant. Kantian Journal. 41 (4):60-75
Huhtala, M. Kaptein, M. Muotika, J. et al. (2022). Longitudinal patterns of ethical organization culture as a context for Leaders’ well-being: Cumulative effects over 6 years. Journal of Business Ethics. 177: 421-442. https://doi.org/10.1007/s10551-021-04744-0
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