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GCSE Bitesize: The Importance Of Ethics In Business

1138 Words5 Pages

The events that have been shaking the financial world in this last decade have stressed the importance of ethics to current and future businesses. Any business's goal no matter the market sector it operates in is to make money or profit. Unfortunately, in some businesses this money-craving philosophy leads to a deterioration of social value. Ethical firms are those who consider the implications of their actions before undertaking them. Businesses who promote high standards of ethics, and morals in their business scheme are more likely to succeed in the long term. Unethical businesses are more likely to generate a lot of profit in the short term but their revenue will tend to gradually decrease on the long term if their behaviour remains unchanged. Ethical …show more content…

(2014). The World's Most Ethical Companies 2014. [online] Forbes. Available at: http://www.forbes.com/sites/susanadams/2014/03/20/the-worlds-most-ethical-companies/ [Accessed 27 Nov. 2014].
Bbc.co.uk, (2014). BBC - GCSE Bitesize: What is ethical behaviour?. [online] Available at: http://www.bbc.co.uk/schools/gcsebitesize/business/environment/acompetitivemarketrev1.shtml [Accessed 27 Nov. 2014].
Businesscasestudies.co.uk, (2014). What are business ethics? - Business ethics and corporate social responsibility - Anglo American | Anglo American case studies, videos, social media and information | Business Case Studies. [online] Available at: http://businesscasestudies.co.uk/anglo-american/business-ethics-and-corporate-social-responsibility/what-are-business-ethics.html#axzz3K88S081H [Accessed 27 Nov. 2014].
B.V., �. (2014). Famous Quotes on Business Ethics and Responsibility. [online] 12manage.com. Available at: http://www.12manage.com/quotes_er.html [Accessed 27 Nov. 2014].
Small Business - Chron.com, (2014). Advantages & Disadvantages of Business Ethics. [online] Available at: http://smallbusiness.chron.com/advantages-disadvantages-business-ethics-10414.html [Accessed 27 Nov.

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