Business Ethics and Their Impact on Organizations

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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 sin...