Ethics in business Importance of ethics in business? Is it a priority?

Essay by bartendaUniversity, Bachelor'sA-, February 2005

download word file, 1 pages 5.0

Downloaded 117 times

Good Ethics is Good Business.

To remain competitive and to insure the survival of a business an organization must respect and regard their social and ethical responsibility as well as maintaining profitability as a central goal. We do believe that good ethics is good business since nowadays it directly tied to the company's success. Moreover good ethics is good business because business partners, suppliers and customers expect and persevere business relationships that are upright and responsible.

Profits aren't Paramount. 19/36

Profits are significantly important for the survival of a firm. The firm should constrain all of its decisions and purposes towards maximizing their profits, yet must do so in a law abiding fashion which follows the code of ethics of the enterprise. A business should not compromise any business ethics or lose any social responsibility in order to boost their profits further. The firm should keep profit maximization at the heart of its business decisions yet not step out from the boundaries that the law has established for the organization.

Quality and Communication

Good quality products as well as effective communication are essential for the prosperity of a firm. An organization should produce its products with full confidence that it is healthy, safe, and effective. Communication within a firm is crucial in attaining these goals since effective communication drives members of the organization towards common goals. Yet the firm should not sacrifice their social responsibility or good ethics but to regard them on an equal degree.