How Business Ethics Define What is Right or Wrong Within Business Settings

Business Ethics
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Conflict of Interests: Concepts Unwrapped
Business ethics is typically the study of policies that govern entrepreneurship. They are moral principles used to solve complex subjects in business, such as insider trading (Brooks & Dunn, 2020). In this regard, business ethics define what is right or wrong within business settings. Some acceptable behaviors or attitudes are embraced in businesses. Therefore, business ethics is a concept used to explain, define, and outline these behaviors and the expectations imposed on business people. Business ethics are promoted to enhance the integrity and ensure that workers or stakeholders can trust the diverse activities or decisions undertaken.
Business ethics are also applicable to professional settings, where people ought to behave in a particular manner without violating the organization's values. Further, they play a significant role in businesses because they help leaders and other stakeholders to make the right decisions. Conflict of interests occurs when personal interests conflict with the overall judgment (Davis & Stark, 2001). Through business ethics, these conflicts can be addressed and ensure that there is consistency in the decision. There are different ways in which conflict of interests can occur, but the commonest is due to incompatible needs or expectations. For example, in the video about the conflict of interests, the sales lady takes back the products because of an extra tip.
In this case, she is working because she can get an extra amount of money. Otherwise, without the tip, it will be impossible to deliver the services required. This is a unique situation that can be addressed through compliance with business ethics. Notably, business ethics are critical not only at the workplace but also at individual levels. In this particular case, certain aspects reveal a violation or disregard of business ethics, especially from the sales lady (Brooks & Dunn, 2020). As described earlier, ethics define, explain, and outline the moral standards that assist individuals engaged in business to make better decisions that exhibit integrity. Ethics assist people in making the correct judgment about their day-to-day experiences in the workplace. Notably, several ethical behaviors are required in business, and they should play an integral role in changing the working environment. For example, the aspect of accountability is essential in business environments. Notably, people should be working not simply because of the m...