Ethical And Unethical Business Practices Essay

1235 Words Oct 12th, 2015 5 Pages
Every person’s perception about right and wrong affects ethical behavior. Also, being ethical and unethical in business depends on the situation they are going through. But most of the time, ethical behavior in workplace is should be more acceptable and enforced than unethical behavior no matter what situation employees are in. There are circumstances when being unethical could actually give you a short-term increase in profit but being ethical is more important because even though the business didn’t make a short-term increase in profit, your business will definitely have a steady long-term increase in profit. The significance of being ethical in workplace are increase in sales and profits, captivate investors, better productivity of employees, recruit skilled employees and the cons of being ethical in terms of business success.

First, being unethical in business could decrease sales and profits and drive investors away. For instance, unethical business people will trick their customers by making them buy product more than it actually worth. While ethical business people will sell products with appropriate price. As for this, customers will trust the company who is ethical compared to the one that is unethical. Therefore, these people will purchase more products from the company that is cheating on them which will lead to increase in sales. Next, in class we talked about how Enron fabricated the profits they make due to this they lost the public’s trust. Enron is an…

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