A company that operates in an ethical manner is more likely to gain the trust and loyalty of its customers, as well as attract and retain top talent. On the other hand, a company that engages in unethical behavior can suffer from a damaged reputation, legal consequences, and a decline in profits
The role of ethics in business
- Thread starter Johnson2468
- Start date
There is a need for every business sector to have guidelines that would guide it. Else chaos would occur.
Can't agree more. I won't buy from companies which operate in an unethical manner.
Business ethics is not only apply within the company itself. It needs to be practiced even outside the working place or company. It is how you can build loyalty and respect from the other companies and potential or existing customers in the market.
Business ethics are like rules and regulations that guide the operation of the business which shows you the lines for you to cross and the lines for you not to cross into your business.
