Ethics in business. What and Why

30/06/2016 0 Comment(s) Ilmu Bisnes,

Ethics in business. What and Why?






If you are a business people, what do you think of the others in the business world? Have you ever think them as you competitors or supporters in the business? how you perceived the way they deal with you in the business? These are the questions that should have in a mind of a good and positive business people.



What is defined by ethics? Well, in the parlance of academic philosophy, it means the name of a field of study, specifically the study of moral concepts “good” and “right”, moral of reasoning and moral of codes and system. Ethics is thus about ethos, about what sort a person’s life and choose to live. A related to business scope, ethics is thus about how a company chooses to behave and concomitantly how it regards itself and others.





Of course, it will include the moral standards of a business should be as well as the individually of all who works in it. With regards to this matter, ethics is what needed in a business. Ethics in another word can be related to the attitude of a business people. It can be both positive and negative ethics but to survive in the “battlefield” in business world, it covers all the obvious things such as questions of good corporate governance and leadership, and all aspects of behaviour on either side of the legality line relating to creative accounting, transparency, compliance, insider trading, fraud and bribery.



Business ethics is a wide subject and it covers every aspect in a company and business should be. Ethics is what it builds up the business community. Yes, it asks the business people to behave with consistency, determination and courage as well as to be a good citizen in the business society. In another words, it governs the people to act wisely and instead of looking down to other people or newbies in the business world, it helps them to uphold the good moral code in business world.



The least effective way of making a company ethical is for senior management to send a code of conduct round to employees by email. A 'code of conduct' is a set of rules outlining the social norms and rules and responsibilities of, or proper practices for, an individual, party or organization. Related concepts include ethical, honour, moral codes and religious laws. Companies have to engage all staffs in discussing and thinking about ethics in bottom – up programme, so that uptake of principles and resulting behaviours really works together with everyone seeing the point they had an input into deciding what is right. The “discussing together about the ethics” is a procedure that is effective because people will know what is wrong for business, company and institutions and lie by it in the corporate settings.





Having the good ethics is actually helpful for the business. First, of course, with upholding the good morale and ethics, it can attract customers to the firm's products, thereby boosting sales and profits. Not only that, the ethics in a company, if it is followed will make employees want to stay with the business, reduce labour turnover and therefore increase productivity. Moreover, with the upholding the good ethics, it indirectly attracts more employees wanting to work for the business, reduce recruitment costs and enable the company to get the most talented employees.



Unethical behaviour or a lack of corporate social responsibility, by comparison, may damage a firm's reputation and make it less appealing to stakeholders. Profits could fall as a result. To put it in a brief conclusion, an ethics is a code which a business and company should have. It will reflect the company and business’s image.









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