Aristotle discussed the ethical ramifications of unfair business conduct in his writings, while the Bible incorporates quite a few prohibitions on certain business practices, together with curiosity, or fees, for lending cash. In his De Officiis (44 bc ) the Roman statesman Cicero (106–forty three bc ) asserted that, in the conducting of business, individuals ought to prioritize the welfare of the group over private revenue. Ethical practices can have strategic worth by improving investor, regulatory, shopper, and media relations.
In some countries just like the US, felony penalties are lowered for white collar crimes committed by managers of corporations with an ethics code and apply. Companies additionally normally favor to do business with different corporations they’ll belief and chambers of commerce welcome such firms into their communities. Having a popularity for prime ethical standards also attracts workers who will work tougher and better after they believe they serve … Read More