Business ethics

Question

1)  Explain what factors are important to you when determining the level of a company’s ethics.

2)  Justify why these are important criteria. Consider both corporate and personal values in listing your criteria.

3)  Examples may include treatment of employees, compliance with laws, or treatment of environment (such as air quality).

 Answer

Business ethics are of paramount importance in enabling organizations achieve its goals. Each and every individual within an organization must have good ethics in order to uphold the organization’s image. Business ethics is a set of professional ethics examining ethical principles and addressing ethical or moral problems arising in a business setting.

Factors which are important to consider when determining the level of a company’s ethics

The level of leadership in leading the employees towards achieving a common goal is very important to note when determining the level of a company’s ethics. A company with a good sense of direction and quality management in conducting business practices indicates that such organization considers business ethics when conducting business (Shin, 2012). Where the organization leaders are good, then there will be high-quality ethical practices in organizations dealings. The level of leadership is important to the organization as it enables workers to work towards attaining the goals of the organization. It also makes employees feel a sense of belonging and identify themselves with the organization.

Corporate governance and business sustainability should also be considered when assessing the level of business ethics in an organization. The set of procedures and processes followed by an organization to make sure that their business practices are of best interest to stakeholders indicate a strong sense of business ethics in an organization (Carroll & Buchholtz2014). On the same note, Organizations engaging in Corporate Social Responsibility to attain social, economic and environmental sustainability exhibit business ethics in business practices. Corporate governance plays an important role in building the company reputation. This will go a long way to helping win clients and maintain loyal customers because of the good and ethical business practices.

References

Carroll, A., & Buchholtz, A. (2014). Business and society: Ethics, sustainability, and stakeholder management. Cengage Learning.

Shin, Y. (2012). CEO ethical leadership, ethical climate, climate strength, and collective organizational citizenship behavior. Journal of Business Ethics, 108(3), 299-312.

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