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Essay / The importance of ethics and values in business...
Business management research task (chapters 5 and 11)Q1: The importance of ethics and values in sustainability Business: Ethics has to do with an individual's judgment and morals. Their ethics help us determine right from wrong. “Values are attitudes toward things like truth, justice, honesty, etc. » (Nieuwenhuizen, Oosthuizen & Drotskie 2012: 95) Ethics and values are important within a business organization because they influence morals and decisions within an organization and must be present to promote the sustainability of businesses. The decision to behave ethically is a moral decision and employees must decide what is right and wrong in the organization, although the decisions may be difficult, but they still need to be made. Ethical decision making contributes to sustainability because the values and ethics of employees will ensure that the organization generates the greatest possible profit while maintaining a good image for itself. An example of this could be a Cologne company such as Versace and they decide to test their new cologne on monkeys, this will prevent the public from purchasing the product as it was not ethically produced and the organization will therefore not generate revenue. maximum profit, as if they had been ethical in their products, which would have ensured the sustainability of the business organization. Ethics can influence a business in both positive and negative ways. If employees are ethical and follow the culture of the organization, it will benefit the company: • Public image: If the organization behaves ethically, it will gain a lot of respect and this will attract a lot of customers, hence more products. and the services will be sold at the top, which increases the sale...... middle of paper ......business ethics. Available: http://t.answers.com/answers/#!/entry/what-is-the-importance-of-business-ethics,4ff8e1be7af68a84dcf37fea/2. Last accessed April 23, 20145) Alejandro, R. (2014). The benefits and importance of ethics in the workplace. " Everyday Life. Available: http://everydaylife.globalpost.com/benefits-importance-ethics-workplace-7414.html. Last accessed April 23, 2014. 6) Cadbury, S. (2002). Ethical Business Practices A Case Study Cadbury Schweppes Available: http://businesscasestudies.co.uk/cadbury-schweppes/ethical-business-practices/the-importance-of-ethics-in-business.html#axzz2ze57H7x9 accessed 23 April 2014.7) EMCC (2004) . Transforming organizations - the importance of leadership and culture in managing change Available: http://www.eurofound.europa.eu/emcc/content/source/eu04006a.htm?p1= reports&p2=null Latest. consultation on April 23. 2014.