Ethical Behaviour In Business

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Ethical Behaviour In Business

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Ethical Behaviour In Business

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Question:
Ethical behaviour in business is essential for the long-term survival of both private and public organisations. Do you agree or disagree? Explain.

Answer:

Introduction
Ethics is the most important philosophy, which eventually includes defending, recommendations and systematization of correct and incorrect conducts (Peters, 2015). The ethical behaviour is extremely significant for any business irrespective of the fact that it is a public or private company. Moreover, it helps to maintain the longevity of that company.
The following report outlines a brief description about the fact that ethical behaviour is essential in every organization. The various effects as well as advantages will be provided here.
Discussion
Ethical Behaviour in Business
Ethical behaviour in any particular business helps to flourish the business exclusively. This type of scenario occurs, when the business is driven by ethics (Crane & Matten, 2016). The employees or the personnel complete their work, following the moral ethics in their professional life.
Need of Ethical Behaviour in Organizations for Long-term Survival
I completely agree with the fact that ethical behaviour is extremely important for any public and private organization for the long-term survival. The most significant reason of this is the reduction in financial liabilities (Niebuhr, 2013). The companies that do not follow ethical behaviour in their business risk several financial liabilities. The first and the foremost liability is the sales reduction. If a real estate company does not follow ethics while constructing any building and if the building crashes, there is a high chance that they would be losing its clients and thus sales would be reduced. The second liability is with the potential lawsuits. Discrimination is highly unethical in any public or private organization (Weiss, 2014). They should maintain policies against gender discrimination and harassment. This would reduce the frivolous lawsuits from getting the companies bankrupted.
Effects of Ethical Behaviour
There are various effects of the ethical behaviour in a business. The most significant effects of this ethical behaviour for any particular public or private organization are as follow:

Attracting Customers: This is the first and the foremost effect of ethical behaviour in any business. The customers are strongly affected by this behaviour and thus get attracted to the company.
Increasing Productivity: The ethical behaviour within an organization helps to reduce the turnover of labour and therefore, increments the overall productivity (Weiss, 2014)
Attracting Employees: When any particular business follows ethics in their work, it automatically attracts more employees as everyone wants to work in an ethically driven organization.
The above-mentioned effects clearly depict that ethical behaviour is extremely important in any organization.
Advantages of Ethical Behaviour
There are several advantages of ethical behaviour in any private or public organization (Peters, 2015). The advantages are given below
Building Customer Loyalty: The main advantage of this ethical behaviour is that it helps to build customer loyalty.
Retains Good Employees: The second advantage of ethical behaviour in an organization is that it helps to retain good employees (Niebuhr, 2013).
Positive Work Environment: This type of behaviour helps to keep a positive work environment.
Avoids Legal Problems: This type of behaviour avoids all types of legal problems.
Conclusion
Therefore, from the above discussion it can be concluded that, ethics can be defined as typical part of philosophy that concerns the correct or incorrect judgements of an individual. The decisions that are undertaken by that person are always influenced by his culture or background. The ethical behaviour in any organization is dependent on the behaviour of its employees. The above report has outlined a brief discussion on the ethical behaviour of an organization. The several effects as well as the advantages of this are also given here.

References
Crane, A., & Matten, D. (2016). Business ethics: Managing corporate citizenship and sustainability in the age of globalization. Oxford University Press.
Niebuhr, R. (2013). Moral man and immoral society: A study in ethics and politics. Westminster John Knox Press.
Peters, R. S. (2015). Ethics and Education (Routledge Revivals). Routledge.
Weiss, J. W. (2014). Business ethics: A stakeholder and issues management approach. Berrett-Koehler Publishers.

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