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Business Ethics Importance and Its Moral Standards Essay

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Updated: Jun 25th, 2020

Ethic is one of the most ancient sciences that has developed as the integrant part of philosophy. Nowadays the problems of the business ethic and the psychological climate in the company are of great importance for its successful functioning. At a time of economic reforms, with the development of private enterprises and new market relations the use of innovative approaches of management becomes actual.

At the same time, there exist a lot of facts of trickery in business relations. The first priority for partners and customers who get into a contact with an organization is a brand confidence, its compliance with the domestic and international laws and its reputation.

In this context, the question of business ethic is very important. It is impossible to create good trading and economic relations without considering moral aspects of business.

The development of any company is possible only under the circumstances of trust relationships between its members. The confidence is based on such notions as social responsibility and good management.

The basis of the business ethic are the moral standards, which rest upon cultural and traditional values. They are the unspoken rules and regulations that include such notions as conscience, accuracy, justice and respect.

My personal belief is that the honesty with customers is one of the key factors that influence the development of any organization. In the modern world under the conditions of the dynamic competitive market, the success of any organization depends upon a customer. There is the unwritten rule that a customer is always right. To some extent, it may be considered as exaggeration, nevertheless the fact remains. It is a customer who ensures a profit of any organization.

No matter whether it is a big multinational corporation or a small private organization- it is a customer for whom an enterprise conducts its activity. The aim of any business organization is the realization of profit. Without a customer there is no profit for an enterprise, without the profit the existence of an enterprise is impossible. It is the universal truth. Every manager in order to be successful should realize this fact, as well as any organization to be competitive should be customer-oriented.

In such a case, the relation between a client and an organization is of great importance. Nowadays many organizations implement new programs aiming to attract customers. They propose different discounts, additional services and even gifts for clients. However, when push comes to shove it turns out that the benefits described by the company are not so obvious. Sometimes a customer is sold a shoddy product, or a contract signed by a customer has hidden dangers.

To my mind, it is a wrong approach to a business. The instantaneous profit is obvious in such a case, but this organization has no future development. The customer, having realized the shadiness of the deal, will never come here again. Moreover, he will talk all his friends and relatives out of dealing with such an unfair organization. The organization loses not only one client. It loses reputation.

The customer should be informed concerning all the peculiarities of the contract as well as the product he is proposed. If he is satisfied with an honest attitude and a service proposed to him, he will be your loyal client. My own belief is that the atmosphere of the mutual confidence is the benefit both for a customer and for an organization.

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IvyPanda. (2020, June 25). Business Ethics Importance and Its Moral Standards. Retrieved from https://ivypanda.com/essays/business-ethics-importance-and-its-moral-standards/

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"Business Ethics Importance and Its Moral Standards." IvyPanda, 25 June 2020, ivypanda.com/essays/business-ethics-importance-and-its-moral-standards/.

1. IvyPanda. "Business Ethics Importance and Its Moral Standards." June 25, 2020. https://ivypanda.com/essays/business-ethics-importance-and-its-moral-standards/.


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IvyPanda. "Business Ethics Importance and Its Moral Standards." June 25, 2020. https://ivypanda.com/essays/business-ethics-importance-and-its-moral-standards/.

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IvyPanda. 2020. "Business Ethics Importance and Its Moral Standards." June 25, 2020. https://ivypanda.com/essays/business-ethics-importance-and-its-moral-standards/.

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IvyPanda. (2020) 'Business Ethics Importance and Its Moral Standards'. 25 June.

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