ASSIGNMENT A

Assignment A

Assignment A

Introduction

Ethics in business is an important aspect of the business and should be clearly understood in every area of the business. It is critical for the business because if it is widely known that the business or organization is conducting fair and ethical practices with its employees, customers, vendors, shareholders and all people that are dealing or associated with the business than it will be having more chances to become successful. However, ethics is a subjective topic and it could possibly have different meanings to different people. Despite its understanding business ethics possess significant importance in all type of business settings. In business and hiring practices, business ethics play an important role. Initially, when a person is hired he should have knowledge of values of company and ethical practice adopted by the company. In this the company can expand and grow effectively. Therefore these practices should be supported by the business. Also in a well managed business employees have a felling that they are fairly treated in the company. By adopting ethical practices it results in effective hiring and reduced turnout of the employees in the company and this is the key for business success (Shaw, 2011, pp. 50-75).

Therefore, ethics in business is now getting importance in the modern world. These ethical practices are effectively observed in advertising of the business products and unethical practices that are adopted by the businesses are criticised in the media. In various scandals of the business especially focused towards business ethics such as TESCO beef lasagnes and the BBC to Barclays. Thus ethics are referred as moral judgement of individual or group regarding right or wrong. It is to mention here that decisions that are carried out in the organizations by individuals or groups and there decisions are influenced by the culture of the organization. Among these decisions the decision that act as an ethical one; therefore business employees should decide which course of action is ethical or right. These actions by the employees of the company may exert on leaving the option that could benefit the company for short term period. This paper aims on implementation and its effect on the Metic & Co.

Discussion

In companies, ethical practices plays significant role in growth of the organization. Good practices assist in improving the operations and profitability of the business. There are various factors that are affected by ethical practices. These factors include employee turnover, customer loyalty, suppliers trust and many more to count. Unethical practices in the business leads the business in negative position and it is also criticized by the media as well. In modern business world, ethical practices are becoming more and more in focus. There are various benefits that a business can get from ethical business practices. These benefits includes: ethical business practices attracts customers for product of the company which result in improved productivity in sales and profit of the company; it also helps in making company employees loyal to the business therefore reducing employee turnover and ...