Gr11 Business Ethics PDF

Business Ethics  What is Business Ethics? Business ethics present appropriate business policies and set of moral principles that guide a company's conduct. Promoting ethical conduct can benefit both your company and society long term. These principles govern...

Business Ethics  What is Business Ethics? Business ethics present appropriate business policies and set of moral principles that guide a company's conduct. Promoting ethical conduct can benefit both your company and society long term. These principles govern every aspect of the company’s internal & external operations, including its interaction with the government and other businesses, its treatment of its employees, and its rapport with its customers. There are about 12 ethical principles: honesty, fairness, leadership, accountability, integrity, compassion, respect, responsibility, loyalty, LAW-ABIDING, transparency, and environmental concerns.  Achieving Business Ethics Through “Triple Bottomline” Prioritizing the triple bottom line is an effective way for your business to fulfill its environmental responsibilities and create long-term value. It focuses on three factors: Profit: The financial return your company generates for shareholders. People: How your company affects customers, employees, and stakeholders. Planet: Your company’s impact on the planet and environment.  Principles of Business Ethics Here are 4 principles of business ethics: 1. Integrity: Organizations demonstrate integrity through a consistency between actions and words, and consistently strive to hold themselves to a higher standard through keeping promises, honoring commitments, meeting deadlines and refusing to participate in unscrupulous activities or business dealings. 2. Fairness: When a business exercises fairness, it applies the same standards for all team members, regardless of rank. Fairness means that a business strives to treat its customers with equal respect, offering the same goods and services to all based on the same terms.  Principles of Business Ethics Here are 4 principles of business ethics: 3. LAW-ABIDING: Ethical leadership should include enforcing all governmental policies and laws. Business organizations must adhere to industry and trade regulations, marketplace standards and any additional mandatory organizational policies, practices, and procedures. 4. Environmental concern: In a world where resources are limited, ecosystems have been damaged by past practices, and it is essential to be aware of and concerned about how a business influences the environment.  Importance of Business Ethics There are several reasons business ethics are essential for success in modern business. Most importantly, defined ethics programs establish a code of conduct that drives employee behavior, from executives to middle management to the newest and youngest employees. When all employees make ethical decisions, the company eventually establishes a reputation for ethical behavior, therefore, its reputation grows. It begins to experience the benefits a moral establishment reaps, such as brand recognition and growth, where all the customers have a strong brand presence in their minds. Consequently, you will have the opportunity to grow your capital through attracting suitable investors.  Importance of Business Ethics There are several reasons business ethics are essential for success in modern business. Most importantly, defined ethics programs establish a code of conduct that drives employee behavior, from executives to middle management to the newest and youngest employees. When all employees make ethical decisions, the company eventually establishes a reputation for ethical behavior, therefore, its reputation grows. It begins to experience the benefits a moral establishment reaps, such as brand recognition and growth, where all the customers have a strong brand presence in their minds. Consequently, you will have the opportunity to grow your capital through attracting suitable investors.  Importance of Business Ethics There are several reasons business ethics are essential for success in modern business. Most importantly, defined ethics programs establish a code of conduct that drives employee behavior, from executives to middle management to the newest and youngest employees. When all employees make ethical decisions, the company eventually establishes a reputation for ethical behavior, therefore, its repu It begins to experience the benefits a moral establishment reaps, such as brand recognition and growth, where all the customers have a strong brand presence in their minds. Consequently, you will have the opportunity to grow your capital through attracting suitable investors.  Importance of Business Ethics There are several reasons business ethics are essential for success in modern business. Most importantly, defined ethics programs establish a code of conduct that drives employee behavior, from executives to middle management to the newest and youngest employees. When all employees make ethical decisions, the company eventually establishes a reputation for ethical behavior, therefore, its reputation grows. It begins to experience the benefits a moral establishment reaps, such as brand recognition and growth, where all the customers have brand presence in their minds. Consequently, you will have the opportunity to grow your capital through attracting suitable investors.  Importance of Business Ethics There are several reasons business ethics are essential for success in modern business. Most importantly, defined ethics programs establish a code of conduct that drives employee behavior, from executives to middle management to the newest and youngest employees. When all employees make ethical decisions, the company eventually establishes a reputation for ethical behavior, therefore, its reputation grows. It begins to experience the benefits a moral establishment reaps, such as brand recognition and growth, where all the customers have a strong brand presence in their minds. Consequently, you will have the opportunity to grow your capital through attracting suitable investors.  Importance of Business Ethics There are several reasons business ethics are essential for success in modern business. Most importantly, defined ethics programs establish a code of conduct that drives employee behavior, from executives to middle management to the newest and youngest employees. When all employees make ethical decisions, the company eventually establishes a reputation for ethical behavior, therefore, its reputation grows. It begins to experience the benefits a moral establishment reaps, such as brand recognition and growth, where all the customers have a strong brand presence in their minds. Consequently, you will have the opportunity to grow your capital through attracting suitable investors. Thank You!