What is Business Ethics?

business economy

Business ethics is the behavior that a business adheres to in its daily dealings with the world. The ethics of a particular business can be diverse. They apply not only to how the business interacts with the world at large, but also to their one-on-one dealings with a single customer.

Many businesses have gained a bad reputation just by being in business. To some people, businesses are interested in making money, and that is the bottom line. It could be called capitalism in its purest form. Making money is not wrong in itself. It is the manner in which some businesses conduct themselves that brings up the question of ethical behavior.

Good business ethics should be a part of every business. There are many factors to consider. When a company does business with another that is considered unethical, does this make the first company unethical by association? Some people would say yes, the first business has a responsibility and it is now a link in the chain of unethical businesses.

Many global businesses, including most of the major brands that the public use, can be seen not to think too highly of good business ethics. Many major brands have been fined millions for breaking ethical business laws. Money is the major deciding factor.

If a company does not adhere to business ethics and breaks the laws, they usually end up being fined. Many companies have broken anti-trust, ethical and environmental laws and received fines worth millions. The problem is that the amount of money these companies are making outweighs the fines applied. Billion dollar profits blind the companies to their lack of business ethics, and the dollar sign wins.

A business may be a multi-million seller, but does it use good business ethics and do people care? There are popular soft drinks and fast food restaurants that have been fined time and time again for unethical behavior. Business ethics should eliminate exploitation, from the sweat shop children who are making sneakers to the coffee serving staff who are being ripped off in wages. Business ethics can be applied to everything from the trees cut down to make the paper that a business sells to the ramifications of importing coffee from certain countries.

In the end, it may be up to the public to make sure that a company adheres to correct business ethics. If the company is making large amounts of money, they may not wish to pay too close attention to their ethical behavior. There are many companies that pride themselves in their correct business ethics, but in this competitive world, they are becoming very few and far between.

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Discuss this Article

15
how can the public can make sure that a company adheres to correct business ethics?
- anon35063
14
Can anyone do my business ethics homework for me? Rather than doing the work myself and gaining an understanding of ethics that would help me better navigate the business world, I figured I'd post the questions here and wait for someone else to answer it for me. Thanks!
- anon33890
13
Can anyone examine critically the inevitability of ethics in business activities?
- emekandu
12
pls i need your help to solve the question "examine critically the inevitability of ethics in business activities." thanks
- anon31478
10
Which one of these (Metaethics, Normative ethics, applied ethics) is best for making business decisions and why?
- Kentucky0323
8
what are consequences of greed in term of politics or economy of the country?
- anon22837
6
Which moral philosophy you feel is best suited for making business decisions and why?
- lynnwill43
5
the article is very knowledgeable and logical i like the true aspect of the article.
- anon19626
3
why is it necessary to apply business ethics?
- anon17427
2
yes!
- chungman
1
business ethics often is an oxymoron. fortunately, there are some businesses that still demand ethical behavior among its employees, and that's heartening. also, i think one of the number one priorities is treating employees well, and they are often forgotten by employers.
- bigmetal

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