Most businesses have a mission statement, centered round qualities and values they swear to uphold. However, in business, there are often conflicts between ethical behavior and business success. Ethics is about how we live in the present to prepare for the future, and a business without profits (or a plan to create them) is not meeting its ethical obligations to prepare for the future well-being of the company, its employees and customers.
Values determine ethical balance and organizations should be well founded with positive core values with services that benefit all that they interact with. One’s moral values and central, value-related attitudes clearly influence his or her business behavior.
Business Ethics is a form of the art of applied ethics that examines ethical principles and moral or ethical problems that can arise in business environment. He is a professional, who is involved in serving clients and customers, who wish to sell or buy businesses.
Although it is rarely the conscious intent of a business to harm the public interest, reality dictates that the businesses ability to increase profits will determine its success. In many businesses, having ethics is frowned upon or thought of as a negative subject.
Big financial corporations set up insurance companies that cater to these insurance needs. Cultivating trust among your customers and other people you transact with is one of the basic business ethics that can greatly affect your enterprise. Ethics are thought of by many people as something that is related to the private side of life and not to the business side.