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Value of a Business Plan
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Value of a Business Plan
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3. Ethics can be important for the long-term success of a business. In general, any economic system functions at its optimal level when the ethical environment is favorable. Corruption, criminality and nepotism are all negative ethical elements that detract from full market efficiency
This holds true at the firm level as well. When an organization lowers its ethical standards or controls, the result is often an increase in selfish behavior, which ultimately harms the organization. Such behavior may improve organizational performance in the short run, but over the long run it is almost certain that such behavior will detract from total organizational performance......
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