Essay For All is the most recommended online platform with the most professional business ethics assignment help services. Business ethics is a discipline that focuses on business policies and practices about controversial subjects such as:
- Fiduciary responsibilities
- Corporate social responsibility
- Discrimination
- Corporate governance
- Insider trading
- Bribery
A lack of business ethics may destroy the trust between different stakeholders in a business. Incidences of business organizations offering misleading advertisements or exaggerated information about their commodities are very prevalent. Once consumers obtain the commodities, they need to perceive the product’s value. That is an example of a lack of business ethics.
Such businesses can lose a lot of customers, destroy their reputations, and suffer reduced sales. However, the many benefits of upholding business ethics should motivate businesses to follow the right path. For any professional guidance, choose our online business ethics homework help services.
Sources of business ethics based on Essay For All business ethics assignment help experts
Though business ethics is required, most people need help understanding its origin. The three primary sources of business ethics are the law, culture, and religion. Religion is the oldest source of ethical inspiration in most societies. With the different religions, each religion offers its set of business morality that will promote positive interactions resulting in business profitability and sustainability.
Though there are different types of cultures, they all play a unique role in promoting business ethics. For instance, it helps ensure that members within an organization comply with the firm’s regulations and directives. The law is also an integral source of business ethics. There are things that the law encourages while condemning others.
For instance, service providers and suppliers can lower the quality of products or services and over-price the customers. Based on the law, offering poor-quality commodities to people is unethical while also exaggerating the price.
Importance of business ethics according to our experienced business ethics assignment helpers
Protects the society
Though the government affects and regulates the business environment differently, to some extent, it requires business ethics to ensure the proper running of business activities and operations. For instance, local producers dealing directly with consumers may not be accessed by the law in case of unethical practices. However, if society encourages business ethics, it is easy to avoid exploiting the public or community.
Increases profitability
Because of unethical practices, some business organizations always want to maximize their profit margins. Long-term profitability is attainable if the business embraces ethical practices, attracts retail customers, and develops a solid positive reputation through positive word of mouth. Ethical business practices attract customers and support increased profit margins for the organization.
Improved decision making
Business ethics enables business owners and managers to always make straightforward decisions with the awareness that the outcomes affect others. Good choices are crucial for successful business operations. A business with strong ethical culture will always enjoy improved decision-making for the benefit of the stakeholders and the entire company.
Public Credibility
Do you think an organization that proves honest and trustworthy in most of its operations will gain more of the public’s trust? The public will always credit any company that offers quality products guaranteeing value for money for its ethical operations. Once a business organization wins the credibility of the people, it becomes easy to attract and retain a vast customer base.
Types of business Ethics
Fairness
Fairness becomes crucial in business organizations because of the rise in favoritism incidents. There are different types of employees in an organization. Leaders or managers should consider every employee equal and hence be given equal access to rights and privileges and also the right to unbiased treatment.
However, self-interests and motives cause most leaders to mishandle or show biases toward employees. Lack of fairness may result in reduced employee morale from the perceived inequality. Based on our business ethics assignment to help tutors, favoritism is a severe ethical violation.
Despite having biases, stereotypes, and prejudice, supporting workplace equality and inclusion is vital. Business managers and owners should be sensitive in promoting workplace cultures that support fairness despite having employees from different backgrounds and individual differences.
Personal responsibility
According to our business ethics homework doers, personal responsibility is the employees’ level of commitment to creating and attaining the set goals. In this case, employees must admit complete responsibility for their decisions, feelings, and behavior regarding their work-related duties. There are some employees who, in case of mistakes, always take the blame on their colleagues despite being part of the mistake.
It is a skill or an ethical value that misses in most people. However, it can be cultivated through self-awareness. Personal responsibility does not only apply to failures but also to achievements. Do you know some managers will always brag about some success that was resulted by their employees? If there is a failure, they will never want to associate themselves with it. Such leaders lack personal responsibility.
Having personal responsibility helps to ensure that people make the right choices and decisions since they will be accountable. Businesses can effectively operate with a team with personal responsibility since it encourages organized, honest, and confident people. In business ethics, personal responsibility improves job satisfaction, business success, and productivity.
Technology ethics
In the past, technology ethics never existed since most operations in the business were not computerized, and there needed to be more technological adoption. Technology ethics has become integral in any company in the present decade. Our business ethics assignment help experts reveal that technology ethics helps people understand and resolve moral issues concerning the use of technology in a business environment. Some of the principles of technology ethics are ;
- Fairness while avoiding discrimination by all means
- Honesty and trustworthiness
- Refrain from harming others
- Contributing to society and people’s wellbeing
There are various areas in an organization where technology ethics applies unlimited;
- Human enhancement
- Health and Safety
- Freedom
- Existential risk
- Digital rights
- Accountability
- Access rights
The significance of technology ethics cannot be underestimated. With the increased use of technology, innocent people can suffer at other people’s hands. Many people can be affected in the process, and there can also be environmental harm.
Corporate social responsibility
Even though a firm may have the license to operate, it must ensure they are responsible for all its actions. The organization should meet its mission and vision but also support the overall wellness of the people around it. Emphasis on corporate social responsibility requires companies to integrate environmental and social concerns through their interactions with stakeholders and business operations. From our business ethics assignment help notes, the common categories of business ethics are;
- Economic responsibility
- Philanthropic responsibility
- Human rights responsibility
- Environmental responsibility
Global warming is a real threat throughout the world. Some of the factors that resulted in the situation are factories and other manufacturing industries carelessly releasing untreated gases into the air. It is the failure to understand the future impact, both short and long-term, of some practices on the environment that makes people behave irresponsibly.
However, corporate social responsibility requires businesses to make profits but remain sensitive to the people around them and their environment. Corporate social responsibility has recently supported increased benefits for companies, such as creating positive brands. There are multiple benefits of ensuring corporate social responsibility, which includes;
- Attracting, retaining, and developing talents
- Increases customer retention and loyalty
- Increases investment opportunities
- Supports global and local communities
- Increase revenue
- Increase in employee engagement
Principles of business ethics according to our competent business ethics assignment helpers
There are various principles of business ethics which encompass;
Loyalty
In this case, the employees should be faithful to their respective business organizations while promoting the brand image. Readiness to belong to the business organization should mean compliance with all the rules while respecting those in authority.
Honesty
Saying the truth at all times is fundamental. There are times when employees can know people behind some underperformance or indiscipline witnessed in the company but fail to speak the truth to conceal them.
Even in offering feedback, honesty is essential as it helps promote good decision-making based on facts. It is, therefore, vital for employees to learn the importance of saying the truth. Most employees may fear being honest, especially in matters concerning upper management level, for the likelihood of being fired.
Respect
In a business organization, respect is encouraged across all organizational levels. Hence, employees should respect one another, their managers, and other leaders. Respect fosters unity and cohesion in the workplace.
Transparency
According to our business ethics homework doers, transparency is an open, straightforward and open way of running business operations and facilitating business communication. Transparency is essential to win employees’ trust. Transparent processes also help the stakeholders and customers trust business operations. For more business ethics principles, visit our online business ethics assignment help services.
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