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,
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As an illustration, it will be difficult for an ethical company to expand their profit. It will be more difficult for those companies because they don’t cheat on their products prices like customers pay high prices on products that is composed with low quality materials. Considering this, the company’s increase in profit will be slower compared to the ones who cheated. But it could also be a good thing, since many customers will buy more from you company due to high quality products. For instance, a company will be behind compared to other companies that gave bribes to politicians or other influential people in business. Some company will probably pay a politician to speed up their business permits and get the business going earlier than their other competitors who have to wait longer. The fact that, the other company get to start their business earlier will get more profit. Many people were attracted to the business who had the “original idea” (the business who get to sell it first). Another example, expanding a small problem in a company. Most of ethical business leaders values moral a lot. Firing a skilled worker due to verbal warning is a waste. Because of the leader’s value towards morality, he has to fire a possible skilled worker just because of minor mistakes. Regarding this, firing a skilled worker could affect the company’s performance in the future. That skilled worker could be hired by an unethical company and lead that company to success while your company stays at the bottom or middle but never on top. In the end, there is always a downside in every decision in business but most of the time good deeds will lead to
As an illustration, it will be difficult for an ethical company to expand their profit. It will be more difficult for those companies because they don’t cheat on their products prices like customers pay high prices on products that is composed with low quality materials. Considering this, the company’s increase in profit will be slower compared to the ones who cheated. But it could also be a good thing, since many customers will buy more from you company due to high quality products. For instance, a company will be behind compared to other companies that gave bribes to politicians or other influential people in business. Some company will probably pay a politician to speed up their business permits and get the business going earlier than their other competitors who have to wait longer. The fact that, the other company get to start their business earlier will get more profit. Many people were attracted to the business who had the “original idea” (the business who get to sell it first). Another example, expanding a small problem in a company. Most of ethical business leaders values moral a lot. Firing a skilled worker due to verbal warning is a waste. Because of the leader’s value towards morality, he has to fire a possible skilled worker just because of minor mistakes. Regarding this, firing a skilled worker could affect the company’s performance in the future. That skilled worker could be hired by an unethical company and lead that company to success while your company stays at the bottom or middle but never on top. In the end, there is always a downside in every decision in business but most of the time good deeds will lead to