What Is Business Ethics?

There are all kinds of companies out there that claim to have the best-trained individuals on the planet, like those individuals with their Masters Degree, or those with business ethics 101. Without being perceived as a sign of economic strength, social responsibility has today the form of corporate civic – a way to create stable and profitable business relationship for all parties, a non-aggressive way, less harmful to work around the community, a friendly way of communication with society.

The organisational culture emphasis on ethics but as it grows it may change, as in the case of tyco where its organisational culture supports unethical practices. If the business earns social sanction of the society, where it exists then it would be able to survive, develop and excel in activities, because only through earning social sanction the business can get loyal customers.

According to elkington the business does not have one single goal of attaining profit but to extend the goal set by adding environmental and social values. 2. Every business irrespective of size exists more on ethical mean or in total regard to its social concern to survive long.

They need to be a good leader and a representative of somebody who has strong moral and ethical ideology, if they are going to expect the same from their employees. Accounting ethics can be defined as a set of distinct guidelines for a business to maintain clean balance sheets, accounting for their profits, losses and expenses incurred, and prevent it from mishandling financial reports and statements.

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.