In modern times, the competition of the corporation is intense, due to the corporate profit, most of businesses operate to meet own requirement, but few have discreetly considered the influences of company behavior and the effect it might have on the society and the environment. Therefore, how ethical can a business be is debatable. Ethical behavior can be defined as business abides by key moral principles that include honesty, fairness, equality, diversity and individual rights. This essay will discuss whether the company can be ethical by arguing that on the one hand corporation act unethical due to consider of cost constraints and competitive pressures, but on the other, company which operate unethical behavior can not accomplish development
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The advantages of being ethical can be defined as reputation, strong ethical ethos in the workplace, attracts investors, trust and loyalty from the costumer. One of the major advantages of performing ethical is the opportunity to build up a sense of reputation in the public. Customers are always concerned with if firms pay a fair wage for workers in nowadays. Being had social obligation will assist to lift public impression and attract loyalty consumers. In addiction, Reputation is one of a business most important assets, also it is the most difficult to rebuild when lost. Maintaining the promises it has made is significant to keeping that reputation. “In 1982, Johnson & Johnson spent over $100 million dollars recalling Tylenol, its best-selling product, after someone tampered with bottles of the painkiller. The company followed its credo, a set of ethical organizational values, and the result was a boost in consumer confidence, despite the contamination scare. Society benefits from business ethics because ethical companies recognize their social responsibilities.”(Kour 2013) Consumers choose to trust ethical company and remain loyal even during difficult periods. Next, an ethical work environment will help establish a strong financial base for the firm and helps avoid financial issues, especially for tax. When working for a business with strong business ethics, employees are comfortable in the knowledge and will not continue own action allowing unethical behaviors. It is less likely to find to breach of laws concerning required behavior too. A prosperous financial management can be benefit employee and company in long-term. Lastly, in generally speaking, it is important to shareholder that the firm operated ethically. It can encourage confidence in company. Investors will be more willing to invest to a firm, which is managed ethical, have social
The advantages of being ethical can be defined as reputation, strong ethical ethos in the workplace, attracts investors, trust and loyalty from the costumer. One of the major advantages of performing ethical is the opportunity to build up a sense of reputation in the public. Customers are always concerned with if firms pay a fair wage for workers in nowadays. Being had social obligation will assist to lift public impression and attract loyalty consumers. In addiction, Reputation is one of a business most important assets, also it is the most difficult to rebuild when lost. Maintaining the promises it has made is significant to keeping that reputation. “In 1982, Johnson & Johnson spent over $100 million dollars recalling Tylenol, its best-selling product, after someone tampered with bottles of the painkiller. The company followed its credo, a set of ethical organizational values, and the result was a boost in consumer confidence, despite the contamination scare. Society benefits from business ethics because ethical companies recognize their social responsibilities.”(Kour 2013) Consumers choose to trust ethical company and remain loyal even during difficult periods. Next, an ethical work environment will help establish a strong financial base for the firm and helps avoid financial issues, especially for tax. When working for a business with strong business ethics, employees are comfortable in the knowledge and will not continue own action allowing unethical behaviors. It is less likely to find to breach of laws concerning required behavior too. A prosperous financial management can be benefit employee and company in long-term. Lastly, in generally speaking, it is important to shareholder that the firm operated ethically. It can encourage confidence in company. Investors will be more willing to invest to a firm, which is managed ethical, have social