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Business Ethics
Business Structure and Ethics in Organizational Behavior
Business ethics can also be known as corporate ethics. It is described as a form of professional or applied ethics that helps in investigating ethical principles as well as moral or ethical problems that comes up within different business environment. Its application takes place within every aspects of business conduct and it is always of relevance to the individuals' conducts and the organization as a whole. The aim of the paper is to examine ramifications and application of business structure and ethics in organizational behavior that will impact businesses in the next ten years.
Sometimes business may try to make short-term gains when it decides to turn a blind eye to ethics. Even though there are laid down regulatory oversight, code of practice, as well as ever-increasing public pressure, most of the firms always decides to ignore ethical considerations. Moreover, they even claim that the only thing a business requires is to obey the law without bothering with the wider perspectives of ethical issues. However, this approach may be of detrimental...
Therefore, it is of importance to learn a lesson from the past regarding the corporate collapse: as much as myopic strategies may bring profitable entities, its impressive initial outcomes may end up unsustainable.
Serious consequences are met when a company or even the finance professionals decides to facilitate and operate in an ethically responsible manner. When companies go socially and environmentally ethical they establish along term thriving ability by protecting its supply chain, license to operate, its reputation, its ability to recruit talent, its relationships with partners, (Paul Merchant, 2013). The idea behind is protecting the company from corporate collapse because of litigation or fraud.
Among the 28 companies that in the past ten years fell out of the world-leading S&P 500 index, the statistics showed that only a few casualties were suffered shifts in technologies and markets. Majority suffered massive fraud or failing to create a sustainable business model by their leaders, (Arnold, Denis G. And Keith Bustos., 2005). Such could be realized most graphically…
Reference
Arnold, Denis G. And Keith Bustos., (2005) "Business, Ethics, and Global Climate Change."
Business and Professional Ethics Journal.
Matt Zwolinski (2013) Recent Work in Ethical Theory and its Implications for Business Ethics. Retrieved August 19, 2013. http://www.academia.edu/250075/Recent_Work_in_Ethical_Theory_and_its_Implications_for_Business_Ethics
Paul Merchant (2013) A Definition for Business Ethics. Retrieved August 19, 2013. http://business.lovetoknow.com/wiki/A_Definition_for_Business_Ethics
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Additionally, businesses must anticipate seasonal shifts in demand when allocating and anticipating costs. A toy company cannot assume that the revenue it enjoys after a Christmas marketing a 'hot toy' will be sustained all year 'round. In terms of taking a long-term view, a business should treat its employees in an ethical fashion. If employees are treated in a respectful manner, they are likely to perform better and show more
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