Business Ethics Essay Example

Business ethics refers to a cord of professional conduct in a business that is acceptable and the conduct that examines the principles and the moral behavior in the carrying out of the business activities. The business ethics is meant to ensure that the business relates well to its environments and all the individuals that surround and are involved in it. These principles are also referred to as corporate ethics. They are generally meant for the well-doing of the business by ensuring that the company offers all the services to all clients in the most appropriate way. This is important for the reputation of the business and helps in attracting and maintaining the customers. This is so since if the status of the company is well portrayed in the industry then; it will win the interest of many and hence be able to command a good portion of the market. This also comes with an increase in the profit margins as a result of increased sales volume. Ethics is therefore very important and crucial for a business that is going to excel and prosper. The ethics apply to all the business aspects ranging from the small to large and from local to global companies that are either owned by individuals group of people or by the states. The ethical principles remain applicable to all, the organizations and require them to conduct themselves relevantly in the entire industry. The ethical issues and values are translated into large standards and rules that can be summarized I the following principles;

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Integrity

This is a moral behavior that is supposed to be practiced by both the individuals and the whole organization. It should be demonstrated at all times by having the individuals involved doing what they know, and trust is right without compromising even if there is an opposing pressure towards such decisions. Once the business has made the decisions through its panel leaders, it should have them implemented whatever the case. The integrity will also allow the company to make an elaborate decision that caters and considers the wellbeing of all that are involved in the business beginning from the suppliers to the consumers. Integrity will enable the industry to uphold its honor and uprightness and not to sacrifice its principles for mere expediency or to behave hypocritically. This will ensure that there are no improper activities carried out by the organization.

Honesty

The business must operate most truthfully and act transparently to win the trust of the market and even its suppliers. The business environment at large needs straightforwardness for it to relate well, with the people. This honesty is needed from the top management down to the market where the ultimate activities are rendered by making sales to the final consumers. This can be practiced to avoid the discrimination of the customers in any way. It will, therefore, ensure that the customers are given the best quality and desirable quantity products and having them not given a default or deceiving advertisements or offered useful products. Honesty will, therefore, help the business to keep to the right morals and avoid misleading the people in the market by mispresenting itself in the market or by giving overstatements, giving partial truth or by omitting some information that should be spoken into the ears of the public.

Trustworthiness and promise keeping

The business organizations should be trusted by the individuals they serve. It is ethical for a business to be in a position to make up to the fulfillment of all the promises that it makes to the people for example if the organization promises the improvement in either the quality or quantity or a reduction of the prices, it should look at great lust honor such promises. The businesses will need to interpret the agreements made and treat them with positivity keeping to the original words that they speak towards the same. The trustworthiness is vital for the business performance and will help it not to act unreasonably or in a way that is legalistic in its activities and service offering to the people. This will assist in keeping the reputation of the business in the market.

Fairness

The business is ethically required to be fair in all its dealings and at all times. They are therefore not expected to be involved in irresponsible behavior and to ensure that they do not use any indecent or overreaching to maintain or gain any advantage nor to act in the way of taking the position that is undue or even to take advantage of the difficulty and mistakes of the others in the market. The businesses are expected to remain in operating as per the initial objectives that direct its activities and involvements. The fairness will allow the company to practice justice, give equal treatment to all individuals, to be able to accept diversity and to tolerate all kinds of people without any discrimination.

Loyalty

The executives of ethics are supposed to be trustworthy, loyal and be in a position to demonstrate fidelity to all people and persons by having the adversity of truth and even supporting the devotions that concern the duty. They are not supposed to disclose the secrets of the company but to keep them with them and instead of capitalizing on the weaknesses of the business, be in a position to find the solution to the challenges faced by the firm. The management should by all means and at all times be in a place to fight unnecessary conflict of interest but to be loyal to the company and the colleagues that also work in the same company. Each should agree with the decisions that are made and seek to implement them. For example, if there is an agreement to provide other employment, there should be a reasonable notice given to all and have every one of them accepting the decision and respecting and acting to it resiliently.

Respect for others

The ethical executives are expected to show a high level of human dignity, have privacy, rights and autonomy and awe interests of all that are in the decision-making panel. There should equal treatment of respect, dignity, and courtesy given to all people without regards to their sex, nationality or even the race.

Commitment to excellence

The executives should be committed to having the intention of giving the best and excellent services at all times. They should be well informed and prepared to have a constant endeavor of increasing their proficiency in their activities and the duties that they execute. The desire for excellent performance will attract the excellence needed and will ensure the prosperity of the business if all I any given work with the same need.

Concern for others

The executives of ethics should show care to all individuals. They should as well show compassion, kindness, and benevolence by helping those in need and seeking to accomplish the objectives of the business in a way that will not cause harm to other individuals. This will involve taking the interest of others at heart treating others with positivity.

Accountability

All the executives by ethics are required to be accountable to all, their acts and performances. This will mean that all action responsively in doing everything by showing a high level of leadership and keeping the reputation of the company and the individuals that are related to the company as well.