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Essay / Ethical practices and values as a way of doing business...
IntroductionIn today's world, different types of businesses have emerged and business operations have become the cornerstone of success, but the way in which they are exploited is what is important. Most businesses pursue the primary objective of making profit without considering how it might affect other factors in the company and this is what in most cases diminishes the longevity of the organization. This research is compiled to explain how good ethical practices and good values in business can generate sustainability within the business and society at large and to do this, the concept of ethical business practice and values must be understood. Decades ago, the perception of ethics and values in business practice was always associated with business failure. entrepreneurs had the “eat or be eaten” mentality – which basically means that one must do whatever it takes to achieve the desired goal, which in the case of a business means that the business must achieve benefits whatever the cost. As the standard of living rose, so did the ways of doing business – business ethics emerged. The government has introduced legislation and acts to shape business practices so that business and society can coexist peacefully; it helped, but problems such as corruption, bribery and insider trading still arise, so it is very important to understand the importance of business ethics. Ethics examines questions of right and wrong when making decisions within an organization, keeping in mind that not everything one decides on behalf of an organization will... middle of paper ... everyone. Everyone can participate in a decision. We work together, and that’s very important when it comes to leadership,” says Ted. HeReferences Nieuwenhuizen, C, & Oostheuizen TFJ, (2014), Business Management – a Contemporary compilation, 2nd edition, Future Vision Business Consultants, Roodepoort. Leonard, D, & McAdam, R, 2003, Corporate Social Responsibility, 23 , pp. 27 – 32. Nieuwenhuizen, C, & Oostheuizen TFJ, (2014), Business Management – a contemporary compilation, 2nd edition, Future Vision Business Consultants, Roodepoort. Nieuwenhuizen, C, & Oostheuizen TFJ, (2014), Business Management. – a contemporary compilation, 2nd edition, Future Vision Business Consultants, Roodepoort. Hann, Christopher, 2014, 5 influential CEOs weigh in on what makes a good leader, Entrepreneurs, February 25, 2013, http://www.entrepreneur.com / article/225804, February 25, 2013.