Introduction
The modern way of doing business in the current different market structures has proved that ethics is of great importance. Ethical undertakings within the frameworks of the different corporations and businesses make them more apt to gain the trust of their employees, customers, stockholders, and potential stakeholders. Failure to uphold greater heights and undertakings of ethics by any organization render the organizations a blurred future of survival in the competitive global market (Crane, A., & Matten, 2014).
Importance of ethics in business
Holding a greater standard of ethical value within our institutions and organization give encouragement to the employees and stakeholders to think beside the obvious views of personal desires but rather put into consideration everybody who would be affected by the decisions they are bound to make.
Additionally, codes of ethics as framed in the context of different organizations have promoted a strong public image as people accord a lot of respect to organizations which continuously make ethical decisions and choices. For employees ethical conduct helps in maintaining productivity and quality (Fishbein & Ajzen, 2011). Employees who operate within ethical standards do not short-change or cut corners the company or customers.
A critical aspect in a workplace frameworks of value and ethics is the element of integrity, or the display of honest behavior every time. In the business world, integrity would encompass honesty when turning in an expense report or failure to attempt stealing a sales account from a co-worker.
Conclusion
The businesses today have been trapped in the net of not merely providing goods and services to the customers but also paying special attention to how they ethical relate to their customers, stakeholders, and employees (Velasquez & Velazquez, 2012; Goodpaster, 2011). It is, therefore, a vital concern to the welfare of an organization to ensure that meets reasonable expectations of every party through ethical business conduct.
References
Crane, A., & Matten, D. (2014). Business ethics: A European perspective: managing corporate citizenship and sustainability in the age of globalization. Oxford: Oxford University Press.
Fishbein, M., & Ajzen, I. (2011). Belief, attitude, intention, and behavior: An introduction to theory and research.
Goodpaster, K. E. (2011). Business ethics and stakeholder analysis.Business ethics quarterly, 1(01), 53-73.
Velasquez, M. G., & Velazquez, M. (2012). Business ethics: Concepts and cases (Vol. 111). Upper Saddle River, NJ: Prentice Hall.
