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The Development of Business Ethics

In: Business and Management

Submitted By GoodwinC12
Words 407
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The Benefits of Business Ethics.” Please respond to the following: * Analyze the benefits of business ethics and determine which is the most beneficial benefit to business overall. Explain your reasoning.
Business ethics focuses on examining conduct and policies and promoting appropriate conduct and policies within the context of commercial enterprise, both at the individual and the organizational level. Business ethics is a form of applied ethics where researchers and professionals use theories and principles to solve ethical problems related to business. Business ethics covers all levels of business activity, including the obligations and responsibilities of businesses to customers, employees, other businesses, national and multinational governments, and the environment.

As in the broad field of ethics, many theories and approaches to business ethics exist. Business professionals and ethicists explore the field of business ethics in three common ways: (1) by studying the (often conflicting) views of famous philosophers, (2) by identifying major ethical concerns of businesses and proposing solutions to them through legislation or ethical theory, and (3) by examining case studies that shed light on ethical dilemmas.

Postulate at least one (1) additional benefit of running an ethical business besides those discussed in the text. Social responsibility is an additional benefit for an ethical business to succeed. The benefits for socially responsible organizations are various. First of all, a good reputation makes it easier for an organization to recruit and retain human capital. Employees are longer employed to the organization, reducing the costs of recruitment and retraining. This leads to better organizational performance as employees become specialized in their tasks and experienced, but they are also more motivated to offer to the organization and

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