Business ethics refer to the moral foundations which characterize the
relationships that companies maintain with stakeholders or interest groups.
Ethics influences the ordinary management and can also lead to modify the
strategy of the company.
Thebusiness ethicsaffectsdifferent areaswhen makingbusiness decisions, especially economicand legalissues, (Weiss, 2006). Like companies leading the scam whose reputation With their shares appears undoubtedly to have fallen down and the collapse was Provoked by a loss of confidence. It has also happened recently with Volkswagen, after the scandal of Manipulation of polluting diesel engines. According to Weiss, we can identify several myths or Beliefs that tend to minimize the importance of ethics in business, first of All, people think ethics is a personal matter based on personal beliefs, not a Public issue. Secondly, companies believe that business ethics is relative so There are no right or wrong ways of acting or thinking.
It is necessary to define the moral content of what is Or is not acceptable, and to implement appropriate mechanisms to encourage the General behavior of employees is ethical. The corporate governance is related to the good work Of people so it is essential an ethical behavior of managers. Nevertheless a number of cases Continue to emerge in company's unethical behavior, even though they have Excellent guides of conduct. The bad reputation of the business school has Scored a stigma: capitalism generates an obsession of making money over all Ethical principle, no law over the rapid enrichment and greed.
For those not considered ethical values, such as standards or rules that Describe the type of behavior that a person should follow, Michael Josephson Describes some principles that managers should take into account for ethical Decision-making: honesty, loyalty, fairness, concert for others, commitment to excellence, Leadership, reputation and morale.
As a conclusion, it has been shown that, ethics in business is a very
important issue, not only for companies but also for society. Business
ethics affect different areas when making business decisions, and there
have been many scandals due to unethical behavior.