Ethical business practices are conduct standards related to moral judgments applicable to people engaged in commerce related positions (Gitman, 2012). Large organizations put more interest on public, the managers are eager to have public opinion and always seek to maintain a proper image of company in their minds. Vendors, and employees also complain about unethical practices and treatments and their complaints have the same compounding effect.
Their moral values and attitudes can also affect an employee’s perception of what is ethical and unethical in the workplace. Leadership in business must set the standard and “walk the talk” when it comes time to ethical behavior. Unethical businesses can be profitable on the short run, but can never be truly successful.
To reach the people and potential customers, they need representatives, who can convince the public, about the soundness and utility of their insurance policies and sell it to them. Business ethics applies to the conduct of individuals and to the conduct of the organisation as a whole.
Under such conditions the individuals involved have two choices either to follow the ethical ways of the organization or “blowing the whistle” on organization. There are economists that assert that, in any competitive economy, ethics are impossible to uphold; that a company can legitimately bypass ethics with the excuse that unethical practices are the only way to make a profit.
If you start early, and instill a good sense of ethical conduct within your employees, or as an employee cultivate these ethics within yourself, then you can be assured of working in a company that will not fall prey to deceptive practices and fraudulent processes.