What are business ethics? How a business can increase its sales by behaving ethically with its consumers?
Answers
Answer:
Ethical behaviour and corporate social responsibility can bring significant benefits to a business. For example, they may: Attract customers to the firm's products, which means boosting sales and profits. Make employees want to stay with the business, reduce labour turnover and therefore increase productivity.
A business cannot claim to be ethical firm if it ignores unethical practices by its ... Direct consumer action is another way in which business ethics can be challenged. ... Surely acting ethically makes good business sense?
Ethics concern an individual's moral judgements about right and wrong. Decisions taken within an organisation may be made by individuals or groups, but whoever makes them will be influenced by the culture of the company. ... Ethical behaviour and corporate social responsibility can bring significant benefits to a business.
Employee Ethics
Employees make better decisions in less time with business ethics as a guiding principle; this increases productivity and overall employee morale. When employees complete work in a way that is based on honesty and integrity, the whole organization benefits
Explanation:
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The system of moral and ethical beliefs that guides the values, behaviors and decisions of a business organization and the individuals within that organization is known as business ethics. Some ethical requirements for businesses are codified into law; environmental regulations, the minimum wage, and restrictions against insider trading and collusion are all examples of the government setting forth minimum standards for business ethics. What qualifies as business ethics in history has changed over time.