NAME: DESMOND APPIAH LARBI

INDEX NUMBER: 10298116

COURSE: BSc IN ACCOUNTING AND FINANCE
GROUP TWO
COURSE CODE:BCPC 212
SESSION:REGULAR
LECTURER’S NAME : Ms. Sangmokour Tetteh
QUESTION

State and explain five importance of business ethics in the organization

Answers

Business ethics are values and standards that guides the behavioral conduct of people which they

are to comply with in the world of business. This means that , ethics control and guides

individual behavior in the world of business in which they work. Business ethics severs several

purpose in the organization.

First and foremost, reputation sever as an importance of business ethics in the organization.

Ethical practice build trust with customers, employees, and stakeholders enhancing the
organization’s reputation. When an organization constantly behaves ethically, it earns a good

name. Think about it, people talk and in todays digital world, news spread fast. A solid rep can

attract investors, customers and top talents.

Secondly, legal compliance is another importance of business ethics in the organization.

Following ethical guidelines ensures compliance with laws and regulations, avoiding legal issues

and penalties. Sticking to the ethical path means you are likely following laws too. This keeps

the company out of legal hot water, which can be costly damage it’s image.

Moreover, customer loyalty constitutes to the importance of business ethics in the organization.

Ethical behaviors foster customer loyalty, as people prefer to support companies that align with

their values. Customers stick to brands they trust. When they see a company making ethical

choices , they feel good supporting it. This loyalty can be key in tough times when you need

customers the most.

Last but not least, long term success also constitute to the importance of business ethics in the

organization. By prioritizing ethics, businesses or organizations can establish a sustainable and

successful business model. Ethics are not just about being good, they are smart for business.

Companies that focus on ethical decision tend to make more thoughtful, long term choices that

benefit everyone, not just quick profit.

Finally, it boost employees morale.A strong ethical culture promotes a positive work

environment, boosting employees morale and productivity. When the higher-ups play fair, it set

the tone for everyone. Employees who feel respected and work in a just environment are happier.

Happy employees is equal to better work vibes and efficiency.

In conclusion, business ethics are good for organization in order to thrive hard to achieve the

objectives.