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Business Ethics Essay

1764 words - 7 pages

7CokeAbstractImportance of Business ethicsLeigha Coke and Trevor DosterDecember 20, 2013The objective of this essay is to explain the importance of business ethics for small businesses. The definition of business ethics is described in full detail to help better explain the purpose of ethics. Ethics are the moral guidelines in which an employer should govern their business. Most ethics are geared toward the business's customers. A business must have proper ethics when dealing with customers, in order to have a successful business. Customers value certain aspects of a company. If a company does not have them, the customer is likely to go somewhere else for that service. Besides customers, ethics have other valuable benefits. This includes higher revenue, better employee environment, and fewer conflicts. A company should consider their ethical guidelines in every decision they make. If an exception is made, the employer's credibility is at a great risk. Taking this into consideration, they must write a code of ethics. The code should reflect their moral standards and focus on their customers. They must also discuss the code with their employees to ensure the moral quality of the ethical code before formally publishing it. All of these points are very important to an ethical code. However, when combined, they will result in the positive proceeds of a proper ethical code.IntroductionWhen forming a business, the owners must prioritize aspects of their business. These priorities can include a lot of things; however something that should definitely be at the top of their list is business ethics. Ethics include the owner's morals and values that they want to incorporate into their business. The business owners must apply their values to decisions they make each and every day. They must set a standard for their employees to follow. When they have employees who walk the ethical line, their company will thrive. Most customers value ethics above everything else. Customers are drawn to businesses with good moral standards and strong business ethics. However, this is not the only benefit to ethics. A company's revenue can increase greatly, and there will be fewer conflicts. This means the better a company's business ethics, the higher the success rate of the business. However, a common question is, "how does one go about writing a code of ethics?" Writing the code is quite simple when the owner knows for what they stand. However, they must first look into their beliefs and evaluate their own personal definition of business ethics, while taking into account their customers and employees.Definition of Business EthicsBusiness ethics can be defined in several different ways. The actual definition of business ethics, as defined by the International Trade Association, is responsible business conduct. The ethical procedures should demonstrate how an employee must act in the business setting. However, the procedure must clearly outline, to its employees, responsible...

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