Introduction
Business ethics involve the use of personal and moral judgment about business issues. The need for ethical behavior and performance within an established code of conduct amongst business people can no longer be compromised.
This will deal with the threat of legal liability associated with unethical decisions and the need for long term profits for any business. The need to practice ethics in all business related activities becomes an added advantage and could be the difference between success and failure.
Studies have also shown that businesses which are committed to ethical conduct outperform companies that do not display the same. Furthermore, ethical behavior will also secure better financial returns than unethical behavior.
There is the need to understand all ethical issues encompassing business organizations. However, it is the application of these principles in business situations that are of concern. The driving forces of unethical behavior also need to be known.
Thus, an individual is capable of avoiding actions that will tarnish the name of the organization. To analyze the ethics tied to a decision a checklist can be used. The checklist will include three questions.
To satisfy the criteria for an ethical decision all three responses must be answered. Is the action legal? Does the action violate professional standards? Whom does the decision affect?
Activities
Business ethics require people to be trustworthy. All clients would prefer to sign business deals with a trustworthy partner. The client should trust the company’s products, image, strength and ability to offer services.
This will encompass fulfilling all promises and providing pertinent information regarding services rendered or commodities of the business. Besides, business ethics require the practice of confidentiality and honesty.
The second activity is meeting the obligations of the company or business organization. This means that the subject delivers and completes all deals within the stipulated time. Care should be taken, and this may require reclamation of any deals gone sour by honoring all contracts.
Thirdly, businesses should also participate in community development. Members of the organization should take time to initiate or participate in community development projects within the business locality. This is a gesture of corporate social responsibility.
This activity creates good relationship with customers and the local community. Contribution to community development can involve taking part in community service or donating money that can buy drugs for a local dispensary.
The other activity is the demonstration of professionalism in all decisions and activities of the company. This involves treating all partners and clients with respect and courtesy regardless of their social status. Therefore, class or social status should not be given priority.
This also incorporates monitoring and evaluation of all printed documents especially advert material. It also involves proper recording to make documents clear and precise without misrepresentation or misinterpretation.
The final activity is taking control of the company’s accounts and financial information. This enables monitoring of the company’s progress and detection of any questionable activities.
Besides, it ensures that the subject is at par with the company’s financial status. It also allows the subject to put to an end any dubious activities. This will also provide an avenue for financial disclosure to encourage ethical practices.
In conclusion, business ethics ensure professionalism amongst business people and should not be ignored. These activities are essential parts of a business’ identity, and organizational culture.