Business Ethics

Businesses have to maintain many things. One of which is business ethics. The business ethics are a set of values and beliefs which influence how individuals, groups and society behaves.  It also helps companies decide what actions are right or wrong in certain circumstances. A business that is ethical and keep account of the society as a whole and the community within which is based might also be described as socially responsible. This will mean that all decision a business makes will be beneficial for the environment and the people living in it and on that account that business will be most ethical, and clear in terms of the things they do.

 Pressure groups have a large influence on how a business grows. In such cases there has been times where the environmentally pressure groups have often persuaded firms to change policies and production methods. Many companies have responded to ethical behaviour by creating their own ethical policies. Is it to show the environmental people that they are helping them. This will often bring more consumers to buy products from them. But it can also be that the policies often outline ways in which the company could avoid exploitation to people and resources.

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Some of the issues that may influence the behaviour of a business are the following:

  • Social- social influences are important because businesses recognise the importance of  GOOD IMAGE. The image helps when the business understands the social responsibilities it has for its customers, employees and shareholders. The changes in society affect how a business acts in the future. Changing social trends include the increase in the average age of population, which affects the demand for different goods and services.

  • Economic- economic influences include the level of consumer demands for firm’s goods or services. People would except the ...

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