Business Ethics and Their Impact on Organizations
To facilitate your exploration of a topic that you find most interesting and valuable, each of you will develop a focus for analyses that you will consider closely through a traditional essay. For your Written Analysis, your task will be to present an analysis (i.e., argument) that builds upon course material. The Written Analysis is limited to 2,500 words and can be submitted in whatever formatting that you prefer (e.g., with respect to margins). The Analysis must: (1) Review and assess a peer-reviewed article that you locate through Google Scholar from 2019 onward that others in the class have not reserved through the course Canvas site; and, (2) Incorporate at least five citations from separate readings that we have reviewed during the class – either from the syllabus or the class slides. Just as there is significant latitude provided for your selection of topics, it is also true that there is no ceiling on the degree to which you decide to pursue your topic. In other words, some of your projects will be fully successful on the basis of analyzing a single, substantive peer-reviewed article while others of you will want or need to draw upon a variety of sources. It is critical that your Written Analysis integrate your own organizational experiences in relation to the topic that you select. You are invited and encouraged to ask me for consultation with respect to this – or any – aspect of the assignment to complement your original observations and insights. Among other tips to help you locate an article as the focus for your Analysis: + For most articles on the syllabus, you can enter the article title into and click through the “Cited by” button to find more recent articles that have some relevance, at least, to the article on our syllabus.
Written Analysis
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Written Analysis
Introduction
Over the years, there has been an increase in competition between organizations, prompting them to look for ways such as employing ethics to improve their competitive advantage. Even though most people have employed this trend, some still do not understand it. This research will explain these ethics and their impacts on the organization. Business ethics should be employed in an organization since it boosts relationships with the stakeholders, the organization's brand image, employee satisfaction, workplace culture, legal compliance, a better society, and a streamlined decision-making process.
What is Business Ethics?
Ethics at the workplace are referred to as the se legal and moral guidelines that organizations abide by. The following guidelines influence how the organization's employees and customers interact (Chen & Treviño, 2023). For instance, it explains how the organization will treat its employees and how the employees will be serving the customers. If the organization has highlighted that it commits ethically to fulfilling its promises, it could create a robust support process to address the policies that will make the customers feel cared for. Similarly, the organization can employ specific programs that could improve the employees' productivity of high-quality work, which will ensure that they are following through to fulfilling promises, which helps them to meet the goals. Most organizations employ ethics to boost their lives and stakeholders' productivity. There are other times when they create them to attain a simultaneous benefit from improved public perception regarding their perceptions. Some organizational ethics include accountability, equality, transparency, responsibility, loyalty, trust, fairness, professionalism, dedication, and discipline.
Improved Relationship between Stakeholders and Investors
One of the unique features that the ethical company has is being committed to improving relationships with all the stakeholders within the organization to help it attain long-term success. Through employing processes of attaining ethical behavior, the organization can create an environment that is based on trust, which could help it to improve sustainable growth and development. Furthermore, when the organization upholds its ethical principles, the stakeholders have a higher faith that the organization will likely sustain itself over a long time (Benlemlih & Bitar, 2018). The increase in trust likely reduces the vitality of stocks while boosting the greater opportunities for partnerships and investment with other businesses. Furthermore, an ethical company is more attractive to most institutional investors and venture capitalists looking for an organization to offer financial support when employing special terms. Moreover, the organization maintaining greater ethical standards not only helps to attract new investors and customers but also helps the existing partners, such as suppliers, to work effectively with the organization since they will have shared values.
An ethical company can show transparency to investors through fraud management and open communication strategies. Employing open communication would help to improve the dialogue in the organization, which would boost trust and accountability between the staff and management. The organization can communicate better when sharing information with the stakeholders, investors, and the general public. Furthermore, the organization should offer consistent and clear updates regarding its business goals and practices. These practices would boost the