Ethics is an important factor in our lives, especially in the business world. Ethics is the code of moral principles and values that manage behaviors of a person or a group govern with respect to what is right or wrong. Ethics deals with internal values that are a part of corporate culture, and shapes decisions concerning social responsibility with the respect to the external environment. For some ethics can hard to understand, and it can be tricky to explain to someone in a way where they easily understand. However, one explanation to make it understandable is to divide human behavior into three different categories, ordered law, ethics and free choice. Codified law, are values and standards written into the legal system enforceable in the
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By obeying the law an organization will be respected and trusted by the external and internal environment. Organizations with a culture of integrity do first have a concern for the law, but they move beyond that with an emphasis on managerial responsibility for ethical behavior. An organization also needs to develop a code of ethics. A code of ethics is like a policy statement that employees need to adhere to. This policy also needs sanctions for violation of the code. If the sanctions are absent, the code is just a list of pieties. The most severe sanction is usually dismissal, unless a crime has been committed. (Unknown) Corporate social responsibility programs or charity is something more and more companies are turning to. They are doing so in order to improve their image, they engage in such activities because if the perception of the company is corrupt or unethical is can lead to public relations nightmares. A good reputation is very important these days, and companies with good reputations succeed in today’s market. Those companies known for unethical practices suffer in today’s …show more content…
Good ethics is good business, and every business should do their very best to operate with high ethical standards. Business ethics offer companies a competitive advantage. When customers learn to trust an ethical brand, they become loyal, even through difficult times. A company I believe did a wonderful job serving their customers was Johnson & Johnson. In 19882, the family company spent over $100 million dollars recalling their bestselling product Tylenol, after someone tampered with the bottles of the painkillers. The company stood by their beliefs of organizational values, and it resulted in consumer confidence. When a company stays true to their promises and social responsibilities they can truly earn more trust among current and potential
By obeying the law an organization will be respected and trusted by the external and internal environment. Organizations with a culture of integrity do first have a concern for the law, but they move beyond that with an emphasis on managerial responsibility for ethical behavior. An organization also needs to develop a code of ethics. A code of ethics is like a policy statement that employees need to adhere to. This policy also needs sanctions for violation of the code. If the sanctions are absent, the code is just a list of pieties. The most severe sanction is usually dismissal, unless a crime has been committed. (Unknown) Corporate social responsibility programs or charity is something more and more companies are turning to. They are doing so in order to improve their image, they engage in such activities because if the perception of the company is corrupt or unethical is can lead to public relations nightmares. A good reputation is very important these days, and companies with good reputations succeed in today’s market. Those companies known for unethical practices suffer in today’s …show more content…
Good ethics is good business, and every business should do their very best to operate with high ethical standards. Business ethics offer companies a competitive advantage. When customers learn to trust an ethical brand, they become loyal, even through difficult times. A company I believe did a wonderful job serving their customers was Johnson & Johnson. In 19882, the family company spent over $100 million dollars recalling their bestselling product Tylenol, after someone tampered with the bottles of the painkillers. The company stood by their beliefs of organizational values, and it resulted in consumer confidence. When a company stays true to their promises and social responsibilities they can truly earn more trust among current and potential