Business ethics is an interesting branch of business theory, primarily because of the fact that they are inherently interesting in a market economy. Getting hands-on experience through part-time jobs in insurance companies, during college days is a good idea. Ethical businesses can be relied upon to be available to solve problems, answer questions and provide support. Unfortunately too many people perceive that ethics only need to be presented to “bad” companies that need to reform.
Research from America Online and , suggested America’s businesses lose $759 billion annually for paid work not performed directly connected to wasted time. One of the biggest aspects of business ethics is human resource management. The general public, as well as company stakeholders, have come to expect that corporations will conduct business ethically and with the highest regard for social accountability.
However, in business, there are often conflicts between ethical behavior and business success. To reach the people and potential customers, they need representatives, who can convince the public, about the soundness and utility of their insurance policies and sell it to them.
A corporation’s environmental policy, the way they treat their employees and the way they treat the communities they exist in are all part of their overall behavior and this in turn is the principle factor in determining their public image. Since public image is largely a result of company behavior, business ethics play a large role in determining public image since they determine behavior.
Without being perceived as a sign of economic strength, social responsibility has today the form of corporate civic – a way to create stable and profitable business relationship for all parties, a non-aggressive way, less harmful to work around the community, a friendly way of communication with society.