This essay focuses on how ethical practices affects stakeholder (customer, government, employee, society, investor etc.) of business. The overall effect of ethical practices on these inter-related results a positive impact on business group. The primary objective of a corporation is to increase shareholder value. Successful corporations must operate within society; to that end, they must maintain the values and norms of the society in which they operate.
As this field of study became more robust, the government began legislating leading ideas in the field into law, thus forcing businesses to abide by certain rules and regulations that were deemed ethical. Business Ethics refers to carrying business as per self-acknowledged moral standards. It is actually a structure of moral principles and code of conduct applicable to a business. Business ethics are applicable not only to the manner the business relates to a customer but also to the society at large. It … Read More