Ethics is what governs personal behavior. It’s the ability to judge what is wrong and right. Having the proper ethics in running businesses is essential. Therefore, Ethics unit in business school is critical. For a company to be successful, it’s necessary to be ethical. When a company works ethically, it makes it easy for the business to attract and keep clients, investors, and employees. When clients know they are dealing with an ethical company, they are at ease with the quality of goods and services being offered. A business that works ethically will not be at risk of being fined for flouting any rules and regulations. It’s therefore important to teach students ethical behaviors in school if they are undertaking any business related course so that they may be successful entrepreneurs in future.
Lack of business ethics will cause a business to operate without carrying out their social responsibility. If a company doesn’t show care for the environment, this will cause damage to the environment. It’s therefore essential for students to understand the importance of ethical behavior in a company and by a company. Ethical practices ensure that business doesn’t have a negative impact on the environment.
When a company is ethical, that ensures accountability, and that will ensure that there are no corrupt dealings with the company. When the organization is accountable, it follows the rules and regulations as set out, pays taxes and ensures will that you retain your business reputation. Its essential to have a business code of ethics as this will ensure that the whole organization is in sync.
Studying ethics will enable one to become a better person and to run better businesses. Studying ethics will give one a different outlook, and it will influence one to behave better perspective on issues. Studying ethics will make one make a distinction between what is right and avoid common mistakes that one can make.