Essay on Ethics in Business

Companies have fully authorized each of their major businesses to manage its ethical responsibilities within the framework of its own industry according to the laws, rules, and regulations that are common to such businesses which are the “Good Citizenship Business Regulations.

This shows its sincerity to its stakeholders about its commitment to financial, communal, and educational comfort of stakeholders associated with its business which includes conformity with all government regulations and not indulging in corruption, treating employees in a fair manner according to implemented labor practices, equality in the workplace which include health and safety measures.

Protection of the environment by keeping waste and the burning of natural resources to the minimum possible to safeguard the organisms that are part of a specific ecological system and to minimize the effects of climate change. These values are applicable to all the stakeholders of the company because self-esteem is very important for the employees of the community.

In large organizations, decisions have to be taken in a systematic and rational manner so that the decisions taken can be logically justified. The decisions should be practically viable and should not depend on some vague concept of right or wrong. Because of this, the company depends on business ethics to rationalize its decisions.