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Ethics in the banking and business

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Ethics has been a common topic in the news recently, and ethical issues have been at the forefront of companies and banks for several years. Sometimes it may seem like the community has grown tired of this ongoing ethical issues, but it is still likely that more issues involving ethics mean that there is still more to learn from the events involving ethical questions. While banks do not have a monopoly on these matters, there are often higher built-in behavior expectations bankers who make ethical lapses of slightly more visible and controversial.

Whenever individuals are responsible for managing a large amount of money (the bankers are clearly), there may be a temptation to take advantage of the situation. In many cases, applicable laws and regulations that prescribe what is legal, and ethical guidelines are often less formal and rigid. In fact, this lack of specificity, it often leads to ethical problems in the first place. If a bank employee finds himself asking questions like the following, we should not be surprised if it says is later called teaching moment

  1. Should I tell anyone about this [19459006?]
  2. Is this really wrong?
  3. Can I get into trouble by doing this?
  4. Is this illegal or just unethical?

final hypothetical question (Is it illegal or just unethical?) Includes concerns the distinction made by some when facing a gray area that is apparently legal but still questionable. It is true that in some cases moral turpitude can also be viewed as illegal, but many unethical acts may be technically legal. Within many companies and banks, it is not unusual for there to be a protocol covering many cases by law but outside the company and the behavior of banks. Character quality are likely to affect how people act in any number of situations that are not spelled out in terms of what to do and what not to do. A proper definition comes from a recent scandal suggests that the character is what you do when no one is watching. It can be both good and bad morals, and one way to determine which is the dominant standard is to monitor what people do when they do not think that someone is looking over their shoulder.

There have been several events banking in the past 25 years that are usually described in terms of legal and moral turpitude of many individuals and banks. Such mass ethical lapses are a special category that deserve further analysis and introspection than can be provided here. One of the best studies of ethics and other details of the savings and loan banking crisis was written by William Black has the following title:

  • The Best Way to rob a bank is to own One: How corporate executives and politicians looted the S & L Industry

The savings and loan element involved many examples of bank employees take advantage of a weak regulatory environment, and the factors behind the 2008 banking crisis had some striking similarities . There are many moments of teaching that can hopefully help improve future ethics environment for companies and banks.

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Business Ethics – Why are they important in the Small Business

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Rarely is an individual who does not encounter ethical or moral problem at some point in the life of his or her company. Whether that person is the owner of a multinational corporation, a small business entrepreneur, or new or established employee, everyone is likely to have to face such examples end. As personal moral dilemmas, individual faces make a decision based on how it will affect not only himself, but how it will affect the organization as a whole. One of the main problems when dealing with ethical problems in business is that people are often swayed by corporate profits and legality of the decision.

The Institute of Business Ethics, which slogan is “doing business ethically makes for Better Business”, describes the term business ethics as such.

Business ethics is the application of ethical business behavior. It is applicable to all aspects of business, from government strategies and how companies with their suppliers to sales techniques and methods. Ethics goes beyond the legal requirements for companies and therefore discretionary. Business ethics applicable to the conduct of individuals and the implementation of the Agency as a whole. That’s how business is their business, how it behaves in nature.

as clear as this definition, it is certainly open to interpretation. Therefore, it must be understood that the application of ethics to all situations is entirely subjective.

can also understand the ethics and morality of any kind, applying a sense of fairness in the circumstances. Even with a sense of clarity applied to the use of business ethics, reaching just and moral decision can be a complex process for most individuals. The subject of business ethics has been a source of much debate in recent years as heads of major (and minor) companies are seen as less than ethical characters both in the way they do business and conduct them. However, one can say that any individual who does not practice ethics not personally be ethical if the opposite may not also be true. Ethics in general has a long history of applications. Centuries moral man define who he was as a person. However, as populations grew, the need for incorporating best business practices in the company was somehow less important because there was always another client around the corner and the owner of the company was rarely the focus of the community how he or she may have been in the past. Administration of the company took place in the background and hired a representative to deal with the fallout. Ethics depend on several factors, one of the most important is their culture. Again, as a business person of the past, culture ethics practices will largely depend on the value placed on them. Business ethics have unappealing conflict often be contrary to what is legal. Often it is the “right” is not necessarily what is legal, and the company must consider this conflict as moral judgments. While there are many in the business community who believe that the company has no capacity for morality if there is effective competition, the number of corporate whistleblowers suggest that there is still room for ethics in business.

Western societies place a high value on success. However, in business, there are often conflicts between ethical behavior and business success. This discrepancy is often multiplied for the small business owner. To compete with larger companies, it may be tempting to leave ethics just to make an adequate profit. In addition, the small business person is relatively independent in his decisions or its preparation; he or she does not have to answer to a large base of employees or company Board. It is also interesting to note that the small business leader has often his or her decisions affect a greater number of persons than the employee small business. For example, a small business owner may have his or her decision affect his or her customer base as well as the employee of his or her. The employee will likely find that the decision of his or her will only directly affect his or her immediate circle of colleagues. However, the pressure to succeed is both internal and external pressure and often leads individuals to make moral decisions that are based more on the pressure and their own moral judgment. As consumers grow wary of those they do business with, you must understand that it is just such wariness. Cynical American consumers have learned, often the hard way, that there is little room for business ethics. In a society where the customer used to be the king, the consumer has more often than not experience some unpleasant experience with companies both large and small.

Some experts argue that any focus on profitability is bound to test the limits ethically. They claim to assume the primary role of business is to serve its customer base in an ethical way is idealistic and the nature of the free economy dictates that ethics must take a back seat to increase profits. Although it is rarely aware of the intention of the company to harm the public interest, reality dictates that the company the ability to increase profits will determine success. Public companies experience increasing pressure in this field. It is difficult to draw investors business based on ethics. Investors are looking to their profitability and ethical performance does not equal dollars. There are economists who think that in any economy, competition, ethics impossible to sustain; the company can legally pass ethics with the excuse that unethical practices are the only way to make money.

Unlike large corporations, small business leader is in a unique position to shape the moral of his or her business. Small businesses have less employee police station when applying ethical policies than larger companies. It is important to understand that, similar ethical issues of large companies, although individual certainly knows the difference between right and wrong moral decision road, the choice to throw ethics to the wind is often done because unethical choice is profitable. This can, however, happen much less frequently in smaller organizations because the person or persons who are harmed by unethical decision and someone is always harmed, visible small business. Big business and their decision-making machines are often far away from individuals immoral and / or unethical decisions affect them. This can make the wrong decision much easier to make.

special for a small business owner in the formation of the ethics policy provides a great responsibility. A proactive business leader formulates a statement the organization values ​​the company’s employees are expected to embrace – at least while jobs in the service business. An organizational change ethics policy is a notice to employees, customers and society as a whole, the company is willing to conduct himself and her practice on moral ground. Such statements offer the respect of all parties in transactions with such parties. However, it is important that the small business owner does not make the same mistake that larger organizations often do; ethical policy to business development can not be contrary to the organization goals. It is unethical in itself to develop an ethical policy that an employee can not possibly follow and maintain their jobs. When faced with the decision between a moral decision and his and her job, the employee will almost always choose the job.

The policy must be in reasonable line with organizational objectives. It is equally important, and perhaps more so, the small business leader lead by example. Employees, especially in my organization, are less likely to behave ethically if they get indirect license no. The end result of such a practice is a small business owner can be sure that he or she is doing business in a way that inspires confidence in customers and employees of his or her. And since consumers have become very wary of doing business with the person they think they can not be trusted, small businesses can enjoy profits loyal customers. The small business owner has an advantage over larger companies in that it can elicit consumer confidence by applying ethical practices that give customers the feel of a normal business relationship rather than one where the consumer purchases based on need alone. There are many who believe that such activity is able to draw business away from large corporate party again in a customer-focused company format.

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The Importance of Ethics and Social Responsibility in companies today is

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Ethics and Social Responsibility are often elements of a company that many small businesses and startups easily seen. When you’re starting a business, so a lot of emphasis on product viability, strategy, management and profits, these things may seem like back-burner issues to consider. However, with the growing technology today, consumers are rapidly becoming more demanding than ever, and fast on all companies questionable practices. Corporate and business watchdogs are more active than ever, and the blogosphere has certainly made full-time to blow the whistle on some of the world’s leading companies.

The fact is that the damage done by unethical or questionable social practices can be very devastating to businesses of any size, and more and more companies today are taking ethical and social customs of responsibility in order to keep competition and follow the demands of society. One clear example of this can be seen in the recent discovery that child labor was being used in one of Apple production offshore facilities. Several companies have been unfair trade practices, unfair wages, poor working conditions and exploitation of child labor or sweat shops levied poor wages and working conditions in third world countries for women.

In addition, the impact of enterprises and production on the environment is more important than ever, and watchdogs as well as consumers seek to induce companies that exploit natural resources or make use of materials that have a tremendous impact on the environment or air quality. Adopting a comprehensive business strategy that deals with these issues and to be committed to providing a good product or service that consumers can trust is essential to the long-term success of any large company. Many business owners mistakenly believe that ethics is just not breaking any laws. However, the reality is that ethics is so much more than that, and involves having a set of moral standards in operations and a staff that is in the interest of all.

While good ethical practices in business are one of the biggest keys to the company’s success, social responsibility is another factor that is often overlooked as well. Businesses have an obligation to their communities as well, and philanthropy by businesses of any size is the key to staying in the good graces not only consumers, but also the cities and states where the company operates. Some business owners believe that the only benefit of charitable contributions is the end of the tax deduction that can help minimize tax liability. However, these tax rebates eliminated as a way to encourage companies to do more for the communities they are in. One of the biggest advantages of a company committed to social responsibility and corporate philanthropy is not only a better image, but also improved the local economy which is presented by companies that support it.

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Why Good Business Ethics Make Good Business

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Why Ethics in business are important

Ethics in business is not only common sense, but business sense as well, no matter if you are running a large company or a small home business from the garage.

Some raise hell when they get bad service or overcharged for the product. But the vast majority of people are too busy or too tired to make a scene or write a letter of complaint. The majority of customers just to quiet mental note of useless business that you have, and vow to never go back there, and they usually do not. These days of online shopping and delivery to your doorstep service, it is very easy to find another dealer.

So honesty and respect in fact, paid in the business, especially in the long term. Many hot shot Whiz kids have made their fortunes by ignoring part of business ethics and integrity, and this was one of the main factors in the latest recession we are now enduring. Bad ethics and dishonesty, greed and rudeness do not help business at all, and the business will collapse when customers all go elsewhere, or when Whiz Kid crookery be found out and punished.

It does not take a rocket scientist to work out these simple rules. So why not highly educated professionals and seasoned businessmen and entrepreneurs make the mistake of forgetting ethics? Mainly because it has the courage of your convictions and good moral base of individuals. Dishonesty is giving you money in the short term, as the history of the branch you’re sitting on gives you the timber in a short time. So it will always be tempting to those with weak morals along with financial pressure. In many cases the raw courage to be honest, but out of trouble for a company going through, it’s reputation grows, and a company with a good reputation are a successful company. Of course, you still need a good business plan and a hungry market, as well as ethics, to succeed. . But morality is vital to keep yourself

Business ethics that are important are:

1. charge the Customer a reasonable price. Do not be greedy.

2. Treat customers with respect, as he is better than you.

3. Do not want to sell customers a defective item or advice or something that is harmful or dangerous.

4. Always tell customers the truth.

5. Treat employees as you treat yourself, or better. Be kind and generous assistance.

6. Pay your suppliers instead.

Ethics do courage and hard work. But they are worth. And they are good business sense too.

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Business Ethics In America

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To fully understand the ethics and how they relate to the company, one must first define the basic aspects. Ethics can be broken down into three categories: social, organizational and individual. Companies are bound by ethics that provoke them to hold accountable for their actions her company bosses, management and stakeholders who desire to be financially from traditional and non-traditional economic activities. Organizational ethics involve common sense of pride and responsibility of employees, managers and companies. They are part of a business philosophy that is part of the company. Individual ethics entrusted our ideas of right and wrong, resulting from many different sources. Beliefs can often play a significant role in the moral way many people choose to follow.

What encourage companies to act ethically in business? What prevents companies from generating as much profit as possible, regardless of the moral consequences of their actions? The public, as well as business stakeholders have come to expect that the company will conduct business ethically and with the highest regard to social responsibility. When a company lacks these expectations, the result often involves punishment and adverse publicity. Companies that do business in an unethical manner at risk of harm not only its stakeholders, but also the public. Companies that operate ethically give a sense of trust and responsibility, both local and national communities; this type of trust can often contribute strong business alliances.

Ethics problems come in many forms for many different reasons while on business. Unfortunately, companies often unwittingly hire people that moral values ​​are less than responsible corporate citizen. These workers often put their own greed and selfishness ahead of the welfare and safety of others, simply for their own financial gain.

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Ethics – Do They Really important today Business World

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There is widespread belief in the world today, to get ahead in politics and business man can not have rules. Some have high moral fiber in your homes. They might even be pillars in the church. But when it comes to business, they are unrecognizable as the same people. I’ve had managers tell me, ethics not add to the bottom line. I’ve even been told to stop being naive, all compromise their ethics, ever.

There are many opportunities in business today where we will be in a position to make a choice. In business, as in life, there are many forks in the road. It may seem to be the fastest way to success, take the road to do something, we know in our hearts is not right.

I believe that particular road is built on sand. It may feel solid at first, but as fact, the road soon begins to disintegrate and performance is lost. In leadership, it is even more important to have principles. When we teach and lead people, they will do as we do, not as we say. We would quickly become a leader unprincipled people who will do anything unethical to succeed. This behavior, finally, opens companies to legal and regulator affairs. Most of all, disappointment and distrust customers. This is very evident in the activities of politics today. Who can we trust and believe in?

In business, reputation is everything. Not only will customers, finally, mistrust and avoid unethical business, but people talk. Word of mouth is a powerful thing. It can make or break a company. It is said that when someone is happy with the product or service they want, on average, say five others. If they are unhappy with the way they have been treated, they will say eleven to sixteen people. The eleven to sixteen people want, not just not do business with that company or person, they will tell others. It does not take long to ruin. Soon the company is gone.

We have to try to be right, our ethics, as well as service to our customers, 100% of the time. When you are the leader of the nation, these people are putting it on the line for your business and you every single day. They are arrogant, you know what is right and in their favor. We need to know from the beginning what is right and wrong. Our lives depend on it.

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Business Ethics Summary

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Ethics is one of the oldest subjects, the purpose of the study is ethical. The term ethics was introduced by Aristotle, who thinks the word ethics “helps to know what to do and what should be avoided”.

Modern ethics is first and foremost, the science that makes considering human relations, as well as to evaluate the behavior of people in terms of generally accepted norms. There are protocols, which includes a system of moral norms of human behavior, belonging to a particular social group. Entrepreneur should not only know ethical behavior standards, but also to guide them

There are so-called protocol, and in particular -. Business ethics, which includes standards of entrepreneurial behavior. Entrepreneurial activity is impossible without the many relationships with people; it is not designed to work alone.

What is the difference between business etiquette and ethics? Business ethics is primarily a negotiation with partners; ethics recordkeeping; using ethical methods of competition. Business ethics is considered to be the same for businessmen from different countries. Business Etiquette – are certain rules that apply to the work style, any communication between the company, the appearance of businessmen, order and manner to negotiate and so on

Business Etiquette formed under the influence of certain traditions and prevailing. historical heritage in the country. For those entrepreneurs who cooperate with foreign partners, is very good to have a national business etiquette cooperating party before the joint activities.

issues of business social responsibility, ethics, and environmental protection on the agenda of modern companies.Social responsible business ethics and environmental protection are equally important and urgent tasks of modern companies than profit organization or salaries of top managers, due to issues of corporate responsibility is able to provide the same effect on the company’s reputation and value, as well as standard indicators of economic growth.

“Social responsibility is a voluntary effort by the company to take various measures to meet the expectations of different interest groups … interest group can be owners, investors, employees, consumers, government, the community or society.” (Nos. org, 05/21/2009)

The days of our environment, for some companies the industry as the automotive industry, runs the new technology and innovation. And this is true even for General Motors Company. “As automotive manufacturer, environmental responsibility is crucial for GM. It is actively involved in the development of hydrogen fuel-cell powered vehicles that emit only clean water and offer twice the energy efficiency of conventional machines.” (Alex Blyth, 05/11/2003)

Without being considered a sign of economic strength, social responsibility has today in the form of corporate civil – way to create a stable and profitable business for all parties, a non aggressive way, less harmful to work around the community, a friendly way to communicate with the community. In this model, social responsibility is nothing but a modern and open way flexible management. Practices and social projects in question are more accessible and more attractive for small business.

Questions moves the ethical considerations of responsible professionalism and how power and authority should be utilized in service to the community and customers. Most jobs have internally adopted rules of procedure that colleagues profession obey, to prohibit the use of customers and support the overall profession. This is not only for the benefit of customers, but for the benefit of the members of the profession. For example, American companies can ask the engineer to manifest security project that is not safe. While one engineer may reject manifesting in the project on moral basis, companies may feel less painstaking engineer who will be willing to appear in the program for payouts, thus saving on transaction costs restyling. Disciplinary principles allow the profession to shape behavior and ensure that one meets this standard, by checking them from the professional body if they do not practice leader. This allows the professionals who work with psychopathic practice in cognition that they will not be counteracted commercial. of those who have less ethical problems. It also maintains public confidence in the profession, which means that the public will continue to seek their services.

One can show integrity at each step of the business sector, and comprising the veracity of statements CV people. It is common cognition that many amplify or their experience when they seek work. They can over-emphasize the role of the projects, their participation in certain industries or regions or acquaintance with various Information package. Interviewers can easily understand this foolishness, and it will have to face failure in the beginning by getting selected for a particular job. Activity-based interviewing is based on the assumption that past performance is a good revelator possible future performance. It uses elaborate questions about what he has done to stimulate people previous behavior. So start with new people, can demonstrate his / her ethical values ​​in the professional arena. In the professional arena, one should not take unethical methods, such as accepting bribes, trying to hurt sentiment associates or not respectful sub-ordinates.

Everyone is morally ambit. As a professional, one needs to make sure that a person has a solid cornerstone. If you can meet the ethical standards expected of him / her, one is powerful to inspire and motivate others and achieve career honors and awards

References :.

Behrman, Jack N. (1988) Essays on ethics in business and professions ;.

George, Richard T. de (1999), Business Ethics

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The Ethics business

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I’ve been hearing quite a bit lately about the company and moral beliefs and practice. Unfortunately, most companies do not do nearly enough to fully integrate ethics into their employees. A hour seminar, even if, in two years just will not do it anymore. You do not see ethics taught in secondary schools or universities anymore. You do not even need to see what kind of ethics presented on television (whether cable or main stream media does not even matter, unfortunately) of the film (if the film happens to be about the business, you can be almost certain it will be a number of unethical situations show, whether within the company or without). To avoid becoming one of those companies that are known for having a morally flawed, here are some very important ways to get ethics back into the business.

to make the best ethical staff group is to start before they are even engaged. Ethics must be strictly observed and asked the recruitment and interviewing process. Strict and specific, standards will have to demonstrate, follow, and insisted before the applicant becomes even position. It may seem time consuming at first, and probably will cost a little extra money, but having and promoting standards before hiring must avoid the problem, most likely legal in the future.

After you hire the person, and in all training and policy manuals given and shown to new and even established employees, be sure to inform and review with them any State or local law, business protocol and appropriate information policy governing the company. Such information may include, but is in no way limited to, whistle blower protection, nepotism, use or business equipment and automobiles, financial disclosure and gift giving and receiving. You would be amazed at the number of people who come into the situation with good intentions that turn bad, where ethical standards are not followed or even mentioned. And it would be worse if they follow the model of unfair and / or unethical mentor!

Do not quit talking about morals and ethical business decision after you hire them either. Perhaps the company newsletter can have a section on ethics in the industry or business. Working groups may also discuss ethical issues for both management and staff.

Finally, the training process, and also the performance of the annual review process, be sure to include moral and ethical evaluation of programs and processes.

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The importance of ethics in business

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When it comes to business-related content, it is always a question of morality as well as mores that are said to be necessary in business. If you are an aspiring entrepreneur who is new to the cutthroat world of business, you might be asking yourself about the importance of ethics in business? Is not it one of the most brutal and competitive aspects of human existence that is often surrounded by a lot of innuendos and fraud?

Business has been one of the most stable areas of society because it depends on the law and dictums that are implemented among all aspects. While it may seem like there are a lot of shady operations in the business, you need to remember that there are plenty of things that must be done with utmost decency in order to establish their reputation.

One importance of ethics in business is that it is complying with both the reliability and reputation with its customers. Certainly no one would want to be in business with a company or a person who is known to be a fraud. Ethics provide the necessary goals to ensure fair practices and opportunities for different industries.

can take the case of insurance companies, for example. This type of company addresses a lot of issues that addresses the trust between them and their customers. The importance of ethics in business, in this case the insurance is the implementation of the standards of insurance business are evaluated.

Ethics is very important especially when it comes to dealing with customers and build relationships with them. Standards are necessary for the company and its components to know where to draw the line and how to deal with gray areas that will come up more often than one would wish.

Various business decisions are also based on morality, which is why companies have their own manual that details how each employee is expected to behave. Employers should be able to present themselves on how ethics would affect their business especially when it comes to profit generation.

There are certain ethical issues in business that are still under discussion due to the difference of views between people in the company. It is important for a possible avenue for people in business to be able to make amends and compromises when it comes to moral gray areas that could prove harmful to various companies.

The importance of ethics in business is often taken for granted because many customers and business think there are certain things more important than morality, so as to generate more profit without concern for customers or society . It is very important to look at ethics in a way that it will become a very useful tool to conduct business. The most successful people will tell you they have often pushed the boundaries to achieve their goals but never did they find the going over it.

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The importance of ethics in business

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Ethics is important not only in business but in all aspects of life because it is an essential component and the foundation on which society is based. Company / community lacks principles is bound to fail sooner or later. According to the International Ethical Business Registry, “there has been a dramatic increase in the ethical expectations of companies and professionals in the past 10 years. Oh, clients, customers and employees are deliberately seeking out those who define the basic ground rules of their activities on this day. … “

Ethics refers to the protocol that routes person relationships. Business Ethics is a form of art of applied ethics that examines ethical principles and moral or ethical problems that can arise in a business environment. It focuses on issues of moral and ethical rights, obligations and governance of the company and its shareholders, employees, customers, the media, government, suppliers and dealers. Henry Ford said, “Business that allows to realize the money is a poor kind of business.”

Ethics connected to all management disciplines such as accounting information, human resources, sales and marketing, manufacturing, intellectual property knowledge and skills, international trading and economic system. As said Joe Paterno once to evaluate the results is unseasoned dish. It will satisfy your hunger, but it will not taste good. In the business culture of the organization sets standards to determine the difference between good or bad, right or wrong, fair or unfair.

“It is perfectly possible to make a decent life without compromising the reliability of the company or individual, wrote business executive R. Holland,” Quite apart from the issues of validity and wrongness, the fact is that ethical behavior in business serving individuals and enterprise much better in the long term. “, he added.

Some management gurus focused on ethical business have an advantage over their competitors. Said Cohen and Greenfield,” Consumers are used to buy goods despite how they feel about the company that sells them. But valued company worked kind of loyal customers, most companies only dream of because it appeals to their customers more than the product. “

Ethical issues in business have become more complex due to the global and varied nature of many large companies and because of the complex economic , social, international, natural, political, legal and regulatory environment in which the company must decide whether to follow a solid ethical or to adjust to local standards and culture.

Managers need to remember the example of the first step in fostering a culture of ethical behavior in business as rightly said Robert Noyce, “If ethics are poor at the top, that behavior is copied down through the organization,” although other methods may be to create a common interest of favorable culture, setting high requirements, criteria, structure attitude for acceptable behavior, make a written protocol implacable at all levels from top to bottom, determine policies for recruiting, selecting, training, activation, promotions, monetary / non-monetary incentives, remuneration and retention of staff. “Price is what you pay Value is what you get.” – Warren Buffet

Thus, the manager should treat their employees, customers, shareholders, government, media and the community fairly and equitably by knowing the difference between right and wrong and choose what is right, this is the foundation ethical decision-making. REMEMBER: GOOD ETHICS is good business. “Non-business with evil is as much a duty as is cooperation with good.” – Mahatma Gandhi

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