Business Ethics reflect on the fundamental principles that form a particular company. An organizational ethics policy is an announcement to the employees, the customer base and the community as a whole that the business is prepared to conduct itself and its practices on an ethical level. Ethics is about how we live in the present to prepare for the future, and a business without profits (or a plan to create them) is not meeting its ethical obligations to prepare for the future well-being of the company, its employees and customers.
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.
Values determine ethical balance and organizations should be well founded with positive core values with services that benefit all that they interact with. The actions and decisions of coworkers is another social factor believed to shape a person’s sense of business ethics.
Rather, all stakeholders must be seen as equally important for the organization to avoid a narrow economic focus which may lead to lapses in ethical behavior which in the end, lead to severe economic and legal consequences for the organization and its stakeholders (p. 4).
Over time unethical behavior continues to increase from 23% in 1941 to 70% in 2005. It is deemed as a way of giving back to the society and the customers will definitely see that they are perceived as valuable people by the company. Examples of unethical behavior abound in business stories around the world.