The Importance Of Business Ethics

1385 Words6 Pages
Business Ethics Author Institution Business Ethics Business ethics can be described as an applied ethics that seeks to inculcate an awareness of responsible business conduct within the employees of a given company. Currently, business initiatives are often tainted by a severe deterioration of business values, as well as corruption and hypocritical pursuits of self-interests (Kumar, Reddy, & Ramaiah, 2014). Such an unfavorable business environment reveals the need for business ethics in order to improve workplace relationships, productivity, and customer satisfaction. Accordingly, the present investigation examines the significance of business ethics, as well as the regulation of business conduct. Additionally, the study argues that regulations alone cannot effectively promote ethical business practices. Ethics in business is important due to a variety of reasons. Firstly, ethical principles correspond to the primary human needs. As such, ethics represents a human characteristic that requires individuals to engage in ethical practices in their private lives and business affairs. People are also attracted to organizations that promote moral values and possess a reputation for honest activities that benefit the society (Kumar et al., 2014). Consequently, companies feel compelled to become ethically oriented. Secondly, ethics establishes the credibility of an organization. For instance, a company that is generally perceived as socially and ethically responsive
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