Why Business Ethics is Important?

            The business landscape is getting diverse and dynamic as it has never before, because the technology and globalization has changed its dynamics on many fronts. So, when it comes to doing business to remain competitive and successful, the companies have to understand the importance of applying business ethics in their day to day business decisions. The customers and stakeholders are aware of everything in this era as they can have so many options to access relevant information, so it has become hard for companies to cheat with their customers and stakeholders, and when they do so, it can have severe consequences for their business. So, they need to remember the benefits that they can obtain y following ethical business standards. In today’s intense competitive business environment, it is important for companies to understand that their reputation is so crucial for their future success. The companies with bad ethical reputation may not attract any investors and customers. It means that business ethics can be important for the profitability and successful existence of a business. So, companies must ensure that they are following ethical and moral standards in their every business practice, and do not cheat with them for any given reasons (Fernando 2010)

References of Business Ethics

Fernando, A. C. 2010. Business Ethics And Corporate Governance. Pearson Education India.