Sustainable advantage of an organization can be determined by its ethical capability. To address this question, social responsibility advocates set out in the 1970s to create a brand-new managerial discipline: business ethics. 4.individuals who deal with business organizations have to evaluate and follow in their day to day dealings and decisions.
I have an imposing personality with sound business ethics and work values. Even though this business follows all ethical practices, there are certain facts about this business marketing that some people find hard to digest. And yet, I suspect that the field of business ethics is largely irrelevant for most managers.
Ethical companies not only make profit but also overcome their competitors and other turbulent changes happening through out the years and have contributed to social welfare. It applies to any and all aspects of business conduct, from boardroom strategies and how companies treat their suppliers to sales techniques and accounting practices.
Another notion that goes against chain marketing business is that only people at the top level make money, while those at the lower levels end up being broke. Social contracts are the implicit moral agreements that, having evolved over time, govern actual business practice.
What follows, then, is a guide to business ethics for perplexed managers: why it seems so irrelevant to their problems and how it can be made more useful in the future. Good business ethics is a distinguishing quality that can bring unmeasured success to a commercial organization.