Business ethics is a form of applied ethics that examines just rules and principles within a commercial context; the various moral or ethical problems that can arise in a business setting; and any special duties or obligations that apply to persons who are engaged in commerce. Large organizations put more interest on public, the managers are eager to have public opinion and always seek to maintain a proper image of company in their minds. We at FRP Development conduct business in strict compliance with both the letter and spirit of the law and with an unwavering commitment to the highest standards of business and personal ethics.
Ethical behavior and a culture of ethics will result in many benefits, including: improved employee relations, enhanced worker productivity, positive morale and an enhanced company image. Ethical policy should address how all corporate activities are undertaken, monitored and verified to ensure that they comply with legal guidelines and ethical standards.
Some management guru stressed that ethical companies have an advantage over their competitors. However, it is imperative that the small business owner not make the same mistake that larger organizations often do; the ethical policies that a business develops must not be in conflict with the organizational goals.
Than in times like these with possible reorganizations, staff morale will be influenced too. It means adhering to moral principles, being guided by particular values, and behaving in a way people ought to act. If the company makes huge profits in unethical way then individual who joins the organisation would also have to practice unethical things to survive in the company.
They point to the gulf that exists between academic business ethics and professional management and suggest that business ethicists themselves may be largely responsible for this gap. Ethical companies have social responsibilities which allow them to flourish undiminished and make profit.