What Is Busines Ethics

In: Business and Management

Submitted By troyjasko
Words 689
Pages 3
What is Business Ethics
Troy Jaskolka
July 26, 2010
William Carroll

What is Business Ethics
In today’s business culture, ethics is a trait highly publicized by not only the media but also by business professionals. According to “BNET Business Dictionary” business ethics is a system of moral principles applied in the commercial world. Business ethics provide guidelines for acceptable behavior by organizations in both their strategy formulation and day-to-day operations. Business ethics is also known as morality in business. This definition constitutes a trait that should be acceptable business acumen. Today, business ethics are portrayed as skewed and self serving. Because of such scandals as Bernie Madoff, Enron and the Arthur Anderson scandal, millions of people have come to the conclusion that businesses have pushed aside these ethics and welcomed the bottom line as their only source of morality.
With such scandals taking over print media, television and radio, it is hard for one not to develop mistrust. Consumer confidence issues are a category of business ethics that affect not only the community but also the well being of the company. In order for a company to sustain in both the community and business world, sales must incrementally adjust to the growth of the company. A drop in sales because of mistrust issues can result in declining stock performance, layoffs, and eventually company closings. Consumer confidence also plays an integral role unto the community. The well being of the company supports the economic infrastructure of the community. As long as the company prospers so will the community. Families will receive paychecks, housewives will shop for groceries, children will accumulate new clothing for school, and the trickledown effect will take care of the rest of the community.
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