discuss ethics in the business industry

ETHICS IN BUSINESS INDUSTRY
Table of Contents
Defining Ethics    3
Significance of Ethics in the Business Industry    3
Its Impact on the Outcomes of the Business    3
References    5
Defining Ethics
Ethics can be defined as the principles of conscience that prevent people from doing anything wrong. According to Bryson (2018), it is the sense of morality within a person that administer their behavior with others, in home, society or at workplace. Therefore, in other words, it can be stated that ethics help the people to conduct any activities without doing anything wrong that can affect or cause harm to others. In this context, it can also be said that thus, ethics brings positive outcomes and benefits to whichever activity it is implemented in. hence, similar is the situation, when ethics is applied to business activities. As supported by Mella and Gazzola (2015), ethics in business regulates the business activities of the organizations, which apply it. Thus, these organizations are unable to take any immoral paths to achieve success in their businesses. This indicates that ethics can also be applied into the business industry.
Significance of Ethics in the Business Industry
Business organizations apply ethics and follow the ethical standards in their activities not because this will prevent them from doing any immoral business practices. They actually apply ethics because it has multiple benefits for the overall conduction of the business. As stated by Ogbari et al. (2016), firstly,...