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Questions and StoriesCategory: Questions🗃️ What Is Business Ethics and Why It Is Important?
Ahmad Khasan asked 2 months ago

🗃️ What Is Business Ethics and Why It Is Important?

According to Wikipedia, Business Ethics is,

“A form of applied ethics or professional ethics that examines ethical principles and moral or ethical problems that can arise in a business environment. It applies to all aspects of business conduct and is relevant to the conduct of individuals and entire organizations.”

I define business ethics as a rule about good and bad in a business environment. It is beyond right and wrong. In business, you can do everything right, but still, you get many resentments from people. I think it is where business ethics come into play. You cannot only do the right things, but you also need to do it in a good manner.

What is your opinion? What is business ethics, and why is it important?

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12 Answers
Jackson Mugarura answered 2 months ago

I think it\’s a general principle that whatever job you do, certain standard guidelines have to be followed. People have to conduct themselves in a certain way for any business to achieve it\’s objectives.

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David Matlala answered 2 months ago

Your actions in any environment affects you and those around you. If you act in a bad way, this may harm you and those you are in contact with.
The same applies in a business environment. There are standards and processes that must be followed to prevent individuals or groups from endangering people’s livelihoods with reckless and unethical behavior.

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Edward Duffy answered 2 months ago

Thanks Ahmad, yes it is about doing things in a good way and according to certain norms and certain unwritten and in some cases written rules. It is about how business conducts itself in all things including negotiations and it also deals with corruption.
Some of the things that the Luckscout team impress upon us in our dealings with each other and also about how they mention that they are unable to guarantee how much we will earn is set down by statute but it can be put into the business ethics relm.

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Leno Jean Pierre answered 2 months ago

In any job there are some rules you might follow in order to do great ,succeed and improve ,it you do the contrary you will also see the results that might not be good.

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Ahmad Khasan answered 2 months ago

Jackson — I think business ethic is for beyond that, it is not only a standard or guideline to achieve business objectives. Business ethic is more about how we can achieve business objective in a good manner.
 
David — I agree with you. Business ethics are principles that guide business to achieve its objective without doing any harm to other people life and livelihood.
 
Edward — You have said it very well, Edward. Most of business ethic are unwritten and become the common knowledge of people in business dealings. Although, there are some business ethics that have been institutionalized into written rules. You have related very well with what has been done by the Luckscout team here.
 
Leno — True. It is the business ethic that make us doing good and great in any job. Knowing business ethic also helps us keep improving in our work.

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Kenneth Ogbonnaya answered 2 months ago

Business ethics Is the manner you applied in talking to your customers, rebranding and recreating of goods. Reason is to enable your customers to find it exciting in patronizing you than any other person

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Leno Jean Pierre answered 1 month ago

Business ethics are system of morals and beliefs that guide your business practices, this includes everything from the way you deal with employees to the rules and regulations you set in place. It should be a standard for both you as the business owner and everyone working with your organization.
It helps cultivate a culture and environment of success and respect in work place.

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Kenneth Ogbonnaya answered 1 month ago

Business ethics is how u strategies and moderate your business in order not to fall.

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Kenneth Ogbonnaya answered 4 weeks ago

Business ethics is the methods and idea in which you applied in building your business to grow and why is important, is to make the customers to patronize u

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adharad answered 4 weeks ago

The main goal in doing business is to get financial benefits. However, that does not mean we can justify any means to achieve these goals. For that we need ethics in doing business.
Business ethics can be interpreted as unwritten rules as the basis for norms and behaviors that must be obeyed by all layers. By implementing good business ethics, we can get more value and trust from society, the country, and even business competitors. Therefore the importance of doing ethics in doing business

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Eli Davis Keinamura answered 4 weeks ago

Business ethics defines the organizational principles followed or policies . with regard to recruitment , performance and financial poliçies which is aimed at achieving organizational goals and objectives

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Kenneth Ogbonnaya answered 3 weeks ago

My business ethnic is to rebrand and advertised my product

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