Understand The Importance Of Business Ethics

1142 Words 5 Pages
The principle of ethics is one of the most important factors that makes businesses as successful and trusted as they are today. Without ethics business would be around, but people would choose not to do business with the corporate companies because there would be no rules, and business could do whatever they desired to do. Without ethics today, the emergence of monopolies may still be present, and there would be no unity between the business and the state where the business charges high taxes for their products. To understand the importance of business ethics, the definition must be stated. The idea of ethics cannot be present in business without the concept of morality. Morality is concerned with what is right and what is wrong, whereas ethics can be defined in many ways. According to O.C. Farrell, John Fraedrich, and Linda Ferrell ethics can be defined as an inquiry into the nature and grounds of morality where the term morality is taken to mean moral judgments, standards, and rules of conflicts or the study and philosophy of human conduct, with an emphasis on determining right and wrong ( Ferrell, Fraedrich 2011). When businesses show good ethics and practices in the workplace, they gain people’s trust. People are the most important factor in business today, without people, there is no business, and without business, businesses’ go bankrupt. The principles of business ethics were placed into business because of the inappropriate actions by business’ back then and today. Business were and are practicing Abusive behavior, harassment, accounting fraud, conflicts of …show more content…
With the presence of sin in business, the lure of stealing and unethical behavior is as tempting as ever when becoming managers and people of power in their companies. With the temptation growing and growing Christians as a community need to pray and seek God on a daily basis to help them practice ethical ideas in

Related Documents