The importance of business ethics.

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Rommel Mendieta

Business Ethics

Mr. Noel Sevilla

The importance of business ethics?

Business ethics can be defined as examining issues from a moral point of view in a professional setting. It concerns questions such as the limits a manager can reach for profit, or the social responsibility of corporations. Business ethics emerged in the 70’s, but spread around the world until the 90’s, as a result of globalization. People became more informed as the access to information spread, thus becoming more aware of the issues, and demanding a more ethical behavior from corporations. Different cultures have different views on what is right and what is wrong. For this reason it is hard to find universal values, which makes business ethics more abstract; even more when the playing field is the whole world, due to globalization. From a moral point of view, ethics in this environment in extremely important and necessary. However, it is used as a technique for leadership, marketing, and good public relations; rather than as a way of practicing virtue ethics.

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The importance of business ethics in our society shows a stimulus-response behavior from those who are in charge. The market is who decides the set of values and guiding principles which must be followed. Clients are encouraged by this behavior, which leads to a win-win situation. It might not be for the right reasons, but at the end it can have a positive impact of people’s lives. Otherwise, a business can end up with a bad reputation, alienating employees, suppliers, and even the community. As a result, a business can be ruined by not following the norms that society ...

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