G. Richard Shell, author of Bargaining for Advantage: Negotiation Strategies for Reasonable People, identifies three primary schools of ethics in negotiation. For example in the accounting department, if unfair pressure is put on employees to deliver an audit report which has been altered or not showing current accounts of the organization would be un ethical, as it does not follow the standards and policies set by the organization.
While there are some exceptions, business ethicists are usually less concerned with the foundations of ethics (meta-ethics), or with justifying the most basic ethical principles, and are more concerned with practical problems and applications, and any specific duties that might apply to business relationships.
We need to ask these questions: “How ethically vulnerable is our company or organization?” “What are the core values and guiding principles of our company or organization?” “Are we committed to living and exhibiting our core values in everything we do?” The answers to these questions will define the state of ethics in our business.
At the business level, I can think of situations in which a business takes a cutthroat approach to remove competing businesses or individuals from their path, instead of entering with them into an honest competition; At the individual level, I can think of a situation in which a greedy employee is targeted by a competitor and is paid a bribe or a commission in return for confidential information that can help the competition snatch a business opportunity from the employer.
Business ethics are important because they keep business people to operate within a moral and legal pedestal which not only leaves them satisfied internally but also increases sales because most people like dealing or doing business with honest businessmen.