Ethics determines the profits/losses
People don’t realize but their so called “morals” change once they get exposure to the business world. Normal morals are different from business morals. Normal morals are the principles or habits taught by our parents/guardians to understand and state what is the right and wrong choice to make or do. While business ethics falls under different standards; it is mostly the rules of conduct that a company gives to their employees which usually affect their morals because sometimes we are unwilling to do the tasks of what the company we work for ask us to do. We ask ourselves why do we follow these unethical rules the reason is why we want to keep our jobs and keep supporting our families. The effects of telling the company we work for that we will not follow these unethical rules will end in either getting fired or told that there will be changes but most likely lose the job.
In the business world we won’t hear too much about business ethics, though another term we do hear is corporate social responsibility which is somewhat like ethics just a more narrowly concern about the company’s obligations. CSR plays an important role in every firm or company in the United States. CSR and business ethics go hand in hand if either of them are tampered with or in another terms, people change the rules and make it their own the business will be corrupt and there will not be as much profit. Word gets out when businesses do not perform well and lack in any of the four axes such as being a committed employer, build relationships with our customers, serve civil society, being an environmentally friendly player. I believe that the CSR is like an insurance for business ethics, CSR is there to provide people with guidance on how to act within the firm with everybody. However if CSR starts to lack no customer will seek guidance from that firm/company again because of how their service lacked. This effects the business tremendously for example if customers stop recommending others to come to our firm we can not make profit and worse run of out business. That is why having the right kind of ethics is important and should always be looked upon and checked every now and then.
“Ethics vs Morals.” Ethics vs Morals – Difference and Comparison | Diffen,