Business ethics is a form of applied ethics that examines just rules and principles within a commercial context; the various moral or ethical problems that can arise in a business setting; and any special duties or obligations that apply to persons who are engaged in commerce. The clearer the company’s plan for growth, stability, profits and service, the stronger its commitment to ethical business practices. In business and in our everyday life, Courage is rarely impulsive but results from self-conditioning – a history of calculated bold moves based on firm convictions.
The National Academy of Engineering cites example of how Texas Instruments’ leadership is focusing on ethical behavior on its on line ethics center (). The company has created a website for employees to visit which lists hundreds of articles which have been published in corporate magazine TINews.
The ethical issues in business have become more complicated because of the global and diversified nature of many large corporation and because of the complexity of economic, social, global, natural, political, legal and government regulations and environment, hence the company must decide whether to adhere to constant ethical principles or to adjust to domestic standards and culture.
A destructive result with negative consequence to other or organizations can be brought about through negative and unethical core values in operational policy. Such focus will have beneficial effects on all stakeholders and a long term benefit to the bottom line by improving stakeholder relations and avoiding costly lapses in ethical behaviors which are damaging to the organization and its stakeholders.
Take good care of your employees by incorporating workplace safety management in your organization. Ethical businesses treat people with respect, honesty and integrity. Your profits will increase because you have a business that is fair to work for, ran smoothly, with effective management, and happy staff, combine that with happy customers and you have the formula for a healthy business with healthy profits.