Ethics in business

Essay by clarecongCollege, UndergraduateA-, June 2004

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With the development of society becoming swifter and swifter, ethics is more and more significant in judging what is wrong and right. Also, we do not ignore the influence of ethics but consider it as a standard of equity especially in business world. As we know, "business is an organization that manufactures or sells goods or services to satisfy some customer's needs in an attempt to generate a profit." It is the link and bridge of social and economic activities. Moreover, the relationship between people and business is direct, intimate and wide-ranging; the activity of economy is the most frequent and open. Therefore, we should emphasize ethical business and consider it as our solitary goal to regulate the market, promote the development of economy, and disseminate civilization in the globe.

According to survey, many CEO in Canada believe that ethics represents standard of equity but not just the limit of avoiding crisis.

Many companies emphasize necessities and importance of acting ethically in business world because they believe that obeying ethics generate them to get the best and hugest profits. In my opinion, ethics in business is the reputation of corporations, trust between consumers and corporations, reliable trade, equitable competition and truth. Although making a profit is the goal of corporations pursue, it should not be the only aim and they should not cheat consumers by offering incorrect information and fake products. They might get much profit at first time, but people will not trust them any more, no matter how great improvement they make later and how excellent products they offer. Once the unfavorable reputation is formed and confirmed by consumers, the means the company's prospect is destroyed. Therefore, reputation and trust are necessary and significant factors in ethical business. At the same time, as the competition among corporations becoming...