Business ethics is an interesting branch of business theory, primarily because of the fact that they are inherently interesting in a market economy. A reversal of behaviors will also occur in that those who speak out against unethical behavior will be the majority, instead of the majority being those who simply ignore and do nothing when they observe unethical behavior. The general public, as well as company stakeholders, have come to expect that corporations will conduct business ethically and with the highest regard for social accountability.
Several individual factors influence the level of ethical behavior in an organization. The employees of the organization, also has to follow the same ethical principles. To achieve ethical equilibrium positive values (those of giving) and the negative values (those of taking) have to be understood and the effects of these values on the business.
Examples of unethical behavior abound in business stories around the world. There is no real separation between doing what is right in business, and playing fair, telling the truth and being ethical in your personal life. At the same time, the business has a certain social responsibility.
Unfortunately too many people perceive that ethics only need to be presented to “bad” companies that need to reform. Ethical businesses treat people with respect, honesty and integrity. It is s subject that can go hand-in-hand with business and when employees and CEO’s alike understand what ethics are about, business can improve.
For example a Japanese employee believes that it Is unethical on his part to attend an interview with other company when he is still with the current company. However, it may be said that any individual who does not practice business ethics cannot be personally ethical even though the reverse may not also be true.