The announce of affair ethics allows for the avoidance of situations such as Enron.
Episode ethics are a mirroring of the criterion of concern that either an alone or affair uses when conducting transactions. Trouble ethics are meaningful since they add a edge of defence to protect the business, enable gathering advancement, save income and authorize community to avoid definite legal implications.
Problems in Networking
Bad pursuit ethics Testament look bad for a business. Important networks that companies need To erect will become harder to set up as no other business person, or business, will want to be associated with a company that adopts a policy of weak business ethics.
It Is Expensive to Be Bad
Recent studies have shown that the public no longer accepts the idea that business is amoral and that people now hold businesses to some standard of social responsibility.
One of the best reasons for studying business ethics is to know your defense. Business ethics are a strong defense. By already establishing what business ethics your company is going to adopt, this is a good defense against bad publicity.
Legal Implications
When corporate greed takes over, there are certain legal regulations placed on each individual. If they are violated, then indictments, trials and long prison sentences may be the only options for those businessmen and women acting unethically.
Abandonment of 'Business is Business'
After the exposure of poor business ethics, it will cost a lot to eradicate the bad publicity from the name of the company. Networking ties will begin to dissolve and excess funds will have to be spent on a stronger advertising campaign To cleanse up any public relations crisis.
