Ethics in Business and Accounting in Vietnam Essay

3079 Words 13 Pages
1. Introduction:
Currently, in the complex global business environment, economic performance alone no longer guarantees business success. One of the integral driving factors for this success is the transparency and integrity of the management system. In many countries, there is enormous number of leading corporations coordinating ethical management into business practices to stay in tune with wider societal values.
However, there still exist corporations where profit triumphs all other considerations. In Vietnam, with lax management mechanism and legal loopholes, many monstrous corporate scandals relating to unethical behaviors have been revealed. These corporate scandals extensively hurt public confidence in financial reporting and
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There can be a large number of actions which is harmful, while still legal, to business activities and human resources. By setting up a specific code of conduct, a business can self-regulate efficiently its behaviors as well as ensure that it’s operating appropriately.
Secondly, ethics affect recruiting and managing employees, specifically by satisfying their benefit. Every employee should be concerned about the company’s moral value practices; so that when company expands, those practices will continue to grow consistently. Furthermore, if business ethics is controlled judiciously, employees will find that they are being treated fairly and humanely. This unquestionably dedicates to the organization success because it helps the organization hire and retain talented employees.
In addition, ethics is important in building excellent reputation to a business when business have to deal with people such as customers, vendors and shareholders. A business that does not behave with integrity may have difficulties conducting its activities, especially when the social network nowadays has made it much easier to share negative information about a company to outsiders. By acting with sensitivity, a business can enhance its profile and gain reputation as a transparent and desirable working

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