Business Ethics An Individual s Moral Judgements

Ethics is defined as an individual’s moral judgements about right and wrong while business ethics is defined as â€Å"organizational principles, values, and norms that may originate from individuals, organizational statements, or from the legal system that primarily guide individual and group behavior†. As the rapidly growing of business organization in a world of globalization nowadays, business ethics is more important than ever. Studying and understanding of business ethics is very important because it can bring significant benefits to a business. At first, studying of business ethics will help managers understand what is right and wrong during the decision making process. There is recommendation by Albert Carr that manager and CEO need to†¦show more content†¦Good business ethics will create a good public image and draw customer to the company. Each organization has a particular public image which represents the way that the society views the corporation. Society has a strong effect on how organization can earn profit. If society judges the organization’s behavior is unethical or wrong, that judgement will directly affect organization’s ability to achieve its business goal. Therefore, it is important to maintain organization’s good public image. In order to do that, studying of business ethic is a must. While gaining knowledge about business ethics, organization will be able to know what to do to create an ethical public image which attracts customers and increase the reputation. Business ethics plays a large role in determining public image because it determines organization’s behavior through the way they treat their employees and the communities. When organization appears as an ethical business, it will attract customers since it makes them feel like they can trust the organization; and unethical organization will decrease customers’ trust which leads to a reduction in customer satisfaction and customer loyalty, which in turn can negatively impact the firm or industry. Attract customers to the firm’s products, which means boosting sales and profits. Customers are much more attracted in buying products or services from an organization that they know its materials and labor areShow MoreRelatedEthical Concepts And Principles Of Business Ethics1673 Words   |  7 Pagesensure proper conduct in business. Plus, individual businessmen and women have their own private consciences to guide them. So do we really need to study business ethics? Is it necessary for businesspeople to be familiar with abstract ethical concepts and principles, and to engage in ethical reasoning? Why / why not? 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