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Business Ethics In Research

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Business ethics is defined as a principle of morality which tries to systematize moral verdicts. It can also represent the systematic study of ethical issues going on in commercial enterprises and the related behaviors of individuals, organizations, and establishments. Business ethics is very important in different corporations in numerous countries and regions. If an organization desires to be perceived as a reliable associate in business, it will use the fundamentals of this notion or the notion itself (Sroka & Lőrinczy, 2015).
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The role of business ethics is: to define, sort and deliver a critique of the process of value formation and the manner in which decisions are made in organizations, to suggest the values which should be integrated …show more content…

The research has confirmed those companies apply business ethics in their operations in different scales and that the business ethics is considered as an important factor which influences both the achievements and profits of modern companies, and its role in the future will probably increase. Georgescu (2012) have developed a qualitative study that shows the connection between the ethical values and the culture of the organization. The study was done by using a survey of 148 participants, employees and managers who work in corporations in Romania’s local business environment. The study shows that the implementation of ethical values is linked to the organizational culture in big companies more than small businesses and codes of ethics is integrated within a strategic vision.
The common misconceptions about business ethics is that it can hinder profit and reduce interesting business opportunities. According to Ghosh, Ghosh, & Zaher (2011), code of ethics, social standards and public interest cause no risk to profit expansion of any company. The acceptance of the government in our lives, and the social bond among the individuals of the society show that personal interest is secondary to social welfare. Profits and ethics are fairly compatible within the societal standards and business …show more content…

Also they know the positive long-term advantage a good ethical reputation can bring to business transactions. Ethical scandals bring bad publicity and makes the whole industry suffers. Corporations in some industries have united together voluntary for the purpose of promoting ethical behavior among establishments. Business is learning that power should be used responsibly by showing concern for the interests of stakeholders, parties who are affected and anyone who has an interest in the operation of the business and the way it performs (p.

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