Ethics And Ethics: Importance Of Business Ethics

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Question (1): Business Ethics is the behavior that a business adheres to in its daily dealings with the world. The ethics of a particular business can be diverse. They apply not only to how the business interacts with the world at large, but also to their one-on-one dealings with a single customer. Importance of business ethics: If a company does not apply business ethics and breaks the laws, they usually end up being fined. Many companies have broken ethical and environmental laws and received fines worth millions. Applying business ethics has many benefits, like the ability to attract and keep investors, employees and customers, knowing that the company they deal with has stated their morals and made a promise to work in an ethical and…show more content…
The EI award designation is given to companies “that continue to raise the bar on ethical leadership and corporate behavior.” The Institute’s award is based on a company’s understanding of the correlation between ethics, reputation and daily interactions with its customers and others. Dell is one of only 10 companies in the technology sector honored this…show more content…
These rights are divided into several categories: 1) Right to safety: it protects the consumer against products, manufacturing practices and services that could harm their health or life. To maintain this right, consumers must follow the instructions and warnings properly and use each product for its intended purpose only.2) Right to Be Informed: Companies must supply all the information necessary for consumers so they can make right decisions about a particular product or service. The Consumer Bill of Rights prevents companies from "dishonest or misleading advertising or labeling." 3) Right to Be Heard: Governmental entities to take consumer interests under consideration when implementing policies. Other rights include the 4) Right to be redressed 5) Right to choose: the right for the consumer to choose between different service providers. Services should not be monopolized; there should be a competition between different companies that sell the same product or provide the same
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