Discussion on ethics in business is necessary because business can become unethical, and there are plenty of evidences as in today on unethical corporate practices. Firms and corporations operate in the social and natural environment. By virtue of existing in the social and natural environment, business is duty bound to be accountable to the natural and social environment in which it survives. Irrespective of the demands and pressures upon it, business by virtue of its existence is bound to be ethical for at least two reasons: one, because whatever the business does affects its stakeholders and two, because every juncture of action has trajectories of ethical as well as unethical paths wherein the existence of the business is justified by ethical alternatives it responsibly chooses.
In this “Ethics of Business” application, you will learn about Business ethics, its importance, building Business Ethics program, its benefit, and more in the 9 categories of this business application. Maintaining and preserving ethics in business is very important whether you accept or not. The health of business and its reputation solely lay on the simple fact that how you represent yourself and your company to the mass audience and how do they take you, and business ethics for once and all play a paramount role in determining that.