The Importance Of Ethics In Business

1713 words - 7 pages

Ethics is the branch of philosophy that deals with the principles correlated to human behavior concerning the rightness and wrongness of specific conduct, and to the good and bad that influences and ends those actions (, 2011). In other words, ethics is the choice people effect in regards to a decision they need to achieve. Without ethics directing the choice an individual makes, moral preferences of what should or should not be done becomes irrelevant. While ethical decisions are made every day there are two different regions in which these choices are made.
Personal ethics are something that everyone has, but ones deeds decide whether the choices are the right ones or the ...view middle of the document...

Only by separation of personal ethical choices in the work place, will an organization succeed and flourish. It is never appropriate for any employee, management or otherwise, to conduct business for personal gain. The people who become harmed lose trust, confidence, and the expectation of themselves and of the people who chose to put their personal ethical choice before the needs of the customer and business.
National Business Laws
Conducting business in the United States is regulated by different types of laws. The definition of business law, also known as commercial law, is the governing of transactions between business entities. These include all aspects such as advertising, collection, banking, contracts, and trade in general (, 2011). Business laws consist of federal, state, and local laws that all organizations small or large must abide by. Federal laws are comprised to include industry laws and regulations, employment and labor laws, handling of legal concerns, and understanding fair practice (, 2011). State laws vary depending on which state the company operates from, and the type of industry. State laws affect all corporations from banks to health care, mortgage companies to retail. Local laws are specific to the town or city the business resides within and includes location, zoning, and sign regulations (, 2011). All organizations are mandated to follow federal, state, and local business laws.
International Business Laws
Laws in the business world are well defined in the United States businesses, but when expanding internationally the laws become unique to the country. Incorporation of legal business operations and local customs becomes imperative because upset of either government or resident population should be averted. Knowledge of business laws overseas is something every business needs to know in order to prosper. Learning about the culture, customs, and needs of a foreign population is important in order to conduct business in another country. Each country has its own set of business laws, and understanding the different legal systems within the country the business operates is imperative to the success of any business.
Codes of Conduct
The employee code of conduct is an unvarying expectancy of behavior and performance that helps promote professional pride. These codes include confidentiality, harassment, dating, dress code, timeliness, and personal demeanor (Drew, 1999-2011). If an organization does not follow, enforce, or update the codes of conduct then the interest in the organization will collapse and employees would be left to act, as they will. Vendor codes of conduct, or vendor agreement, is the standard rules set down by an organization that vendors must follow in order to provide any type of provision. Different establishments have different purveyor codes that are specific to the company. The traditional codes include compliance with safety regulations, labor...

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