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Essay / The Importance of Business Ethics - 992
Business ethics should be followed in daily activities at the workplace. Thus, business ethics is necessary for the success of an organization. In fact, business ethics is an issue underlying the cause of business failure; due to unethical behavior and lack of corporate social responsibility (Floyd, Xu, Atkins, & Caldwell, 2013). The following section explains why business ethics should be followed in daily activities at the workplace. With this in mind, the following section explains why ethical behavior and corporate social responsibility; indeed, it can improve business performance and success. Additionally, the following sections explain why ethical issues arise in business and the elements of ethical behavior. First, the following sections explain business ethics and why following them is essential to an organization's success.Business EthicsIncluding, the standards applied in business; in fact, it resembles the conception of good or evil. In truth, ethics indicates whether behavior is moral or immoral. Furthermore, values ultimately identify fundamental human relationships. Thus, business ethics are essential to the success of a business (Floyd, Xu, Atkins, and Caldwell, 2013). As there are a variety of arguments as to why business ethics are essential to an organization; indeed, one of the most important reasons is to improve business performance (Floyd et al., 2013). Clearly, numerous empirical studies have demonstrated the benefits of being perceived as an ethical company. Researchers have found a significant relationship between corporate financial performance and ethical performance (Floyd et al., 2013). Thus, companies that are ethical leaders attract and retain the best employees, increase sales and customer base...... middle of paper ...... less from the nation where they are headquartered, face to this kind of ethical dilemma (Jondle et al., 2014). Thus, as business becomes more globalized and more companies enter foreign markets where cultures and ethical traditions vary, these cross-cultural questions will arise more frequently (Jondle et al., 2014). Elements of ethical character. Ethical dilemmas in the global workplace depend to a large extent on the ethical character and moral development of managers and other employees (Jondle et al., 2014). Good ethical practices are not only possible, but also become normal with the right combination of these elements (Jondle et al., 2014). Thus, the components discussed are: values of managers, spirituality in the workplace and moral development of managers. First of all, the following section explains the values of the manager in the workforce.