Maintaining proper business ethics Essay Example | Topics and Well Written Essays - 1000 words

Maintaining proper business ethics - Essay Example Maintaining proper business ethics In this regard, those businesses that uphold moral practices are profitable in that they are able to meet the right standards of product quality while avoiding legal suits against them. This also goes hand in hand with the businesses’ reputation, which does not suffer adverse publicity with regard to its ethical operations. Such business are cautious not to any business malpractices as that would result to farfetched problems that might compromise their profit margins. Conversely, the assertion that good ethics results to good business only applies to businesses that are desired to last as benefits from business ethics only accrue in the long run. In other words, businesses competition in the market and desire for short-term benefits that will ensure business sustainability is what drives many businesses. Similarly, the economic viability of business ethics gradually declines even in the long run and companies are forced to take stringent unpopular decisions that are crucial f or business sustainability. For instance, many companies have had to infringe on their employees privacy by implementing internet usage monitoring policies. Some businesses have also had to lay off part of their labor force in spite of the public outcry and ethical implications, as part of structural adjustment programs. This now leads as to the second assertion that good business results in business ethics, and in this case, it is believed that the drive for profits will force businesses to uphold proper business ethics.... In this regard, the desire for sustainability will result to  good business ethics as businesses are forced to conform to proper business ethics. For instance, many companies are forced to show concern for environmental conservation as part of their collective corporate responsibility, in order to ensure sustainability of the natural environment and its resources. Environmental policies impact positively on the companies’ reputation, as they are able to show the companies' concern and responsiveness to environmental matters. The companies also avoid damaging publicity that could result from legal suits against them from the government or concerned parties; these may arise due to the companies’ breach of corporate responsibility in environmental conservation. However, the assertion that good business results to good business ethic is pegged on the assumption that all the concerned parties will exert pressures on corporate to act responsibly. This may not be the case in all contexts, as seen where consumers opt for cheaper counterfeit products regardless of the health risks involved. Employees might also be lured with financial incentives into foregoing their privacies and sense of ethical practices; this encourages companies to indulge in unethical business practices by flouting their social corporate responsibility. In view of the two assertions discussed above, it is evident that the issue of business ethics is as critical to businesses as their concern for profits (Camus). Ethical businesses are socially responsible, and the reverse is applicable in that a socially responsible business is ethical. In this regard, business