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- W2340857366 abstract "Business ethics has not always been understood in business circles. Indeed, it is sometimes perceived as being contrary to the spirit of business. This paper attempts to define business ethics and show its importance in the business setting, specifically in regards to human capital. Because business ethics is applied ethics, the paper does not deal with any philosophical study of ethics. Rather, it explores the factors that contribute to the development of an ethical (or unethical) environment within the organization and how to manage those factors in order to ensure that the organization becomes an example of integrity. The news hits the headlines of local and international magazines all too often. A well-known firm had seen its reputation sullied-and profits diminished-because of some unethical action. From major law suits to petty thefts, many organizations suffer financial loss because of unethical and fraudulent actions. While ethical conduct is generally expected from employees and their managers, the understanding of what actually constitutes ethical (or unethical) conduct is often lacking. Most businesses do not concern themselves with ethics. Not that they would qualify themselves as unethical, but they would rather pursue profits and ignore ethics. After all, isn't the motive of businesses to make a profit? It is much easier to deal with net income, dividends, and debt-equity ratios than try to solve ethical dilemmas. Further, the firm's performance is still considered in terms of financial analysis by the shareholders. Yet the reaction of the general public towards unethical moves proves another reality. Individuals in the community do not remember a firm's past financial success or its dividends lavishly distributed once it is known that the organization went astray on ethical grounds. The ethical standard of the firm comes under scrutiny. Trust, which is the base of customer loyalty and a pillar of a firm's competitive edge, is earned when a firm is honest in all its transactions. All things being equal, customers would rather deal with an honest firm than a dishonest one (Le Clair, Ferrel, & Fraedrich, 1998). While individuals" @default.
- W2340857366 created "2016-06-24" @default.
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- W2340857366 date "2003-04-01" @default.
- W2340857366 modified "2023-09-23" @default.
- W2340857366 title "Business Ethics and Human Resources" @default.
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