Ethics And Its Impact On Business Ethics - 1339 Words

Behind every successful company there is a strong foundation of ethics. Their vision, mission, behavior as a company, beliefs, and convictions all stem from their ethics. Not all companies have this foundation. To some, it is not believed to be essential for success. Ethics is important in business because our day-to-day life involves these businesses. The places we go to buy clothes, food, cars, computers, and services are all different kinds of businesses that we support financially. How many of the businesses around us have a strong foundation of ethics? How do we know that these companies don’t have workers working excruciating hours behind the scenes to produce the things that are seen on the shelves? How do we know that they are treating their workers with kindness and respect, as well as customers? Business ethics are important for not only the workers of those companies, but for their consumers. There is a domino effect that is caused when a consumer from a company wit h good business ethics recognizes it. As a result, the consumer returns, bringing with them more consumers, resulting in more profit for the business and a healthy work environment for its workers. Ethics is defined as â€Å"the philosophical investigation and explanation of moral facts such as moral evaluations, commandments, norms, virtuous acts and manifestations of conscience.† Basically, it is what is morally considered right or wrong according to an individual (Wiley 22). Ethics in the work place leadShow MoreRelatedThe Impact of Business Ethic on Organisational Performance14958 Words   |  60 PagesETHICS AND PERFORMANCE: AN ASSESSMENT OF THE IMPACT OF BUSINESS ETHICS ON ORGANISATIONAL PERFORMANCE WITHIN THE FINANCIAL SERVICES INDUSTRY. HSBC HOLDING PLC AS THE CASE STUDY. 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Ethics Ethics is commonly defined as the rules that surround expected behaviors in a given situation or circumstance in accordance with the environment or geographic location. Morals are commonly defined as the habits and principles associated to doing right or wrong behaviors. The Federal Sentencing Guidelines for Organizations (FSGO) provides the basis for companies when creating a Code of Ethics in order for it to be effective (Hopkins, 2013, pg. 43). The Code of Ethics is created