Ethics in business

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02 April 2020

Question1. Risks and Consequences of Unethical Behavior in an Organization

Companies have most probably never had they felt so constrained to be more centred

on clients. Customers are appealing more, savvy as well as know precisely how to achieve

everything they want. In the exceptionally serious and testing conditions of the business,

organizations should choose the option to agree. The difficulties do not end with being

focused towards client needs alone – customers should have an opportunity to believe that

organizations, together with their employees, are ethical and straightforward. Between the

most grounded mainstays of any current business, attachment ought to be trust and clients

look towards working with organizations that have gained reputations of being honest and

straightforward in their transactions.

Companies’ inability to keep their customers for long term relationship is one worst

outcome of practising unscrupulous behaviours on business. Moreover, expensive litigations

are what that lead to business vulnerabilities. Further accusations of the business because of

an instance of unethical behaviour may harm the reputation of the company completely,

whether the accusations were true or just false allegations that competitors or people with ill

intentions circulate. Customers usually rely heavily on structured guidance and accurate

information that comes from the company representatives and the owners; however, much

information they gather from the internet sources and other market intelligence strategies.

Companies must act accordingly in making sure the business ethics are maintained as the

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business environment becomes more competitive; otherwise they will be faced by the effects

that are very damaging to both the representatives and the company. Company's malpractices

should be treated seriously because ignoring by thinking that the clients will know it is ill-

advised because they always find out.

Customers avoiding companys product completely is another negative business

unethical behaviour effect because the affected usually incite other customers also to ignore.

Once a company's sales levels fall, it means a company's share prices will fall, a decrease in

profits. Consequently, the stakeholders and the investors shall be driven away because people

will never invest their money in a failed organization.

Due to the inability to understand the intentions of others, there would be a company's

internal conflicts, distrust, stress and confusion. This poor working conditions and

environment would lower the morale, lead to attrition of employees, decreased productivity

which finally would lead to the company’s downfall.

Question2. Developing an Ethical Culture in a Business

Managing an ethical risk is inconceivably troublesome, generally in light of the fact that you

can't foresee what a representative is thinking or control all of their activities. Nonetheless,

discovering approaches to deal with this hazard is fundamental: one individual's decisions

can cost a considerable number of dollars, close down a business perpetually, and harm

clients. That sort of conduct can cause huge issues with resolve and could even prompt

lawsuits. While hazard shirking is unthinkable, here are a couple of things I would do to

reduce the opportunity of being a piece of the most recent embarrassment.

Promote your values and lead by example

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Customer name 1 Student’s Name Professor’s Name Subject 02 April 2020 Question1. Risks and Consequences of Unethical Behavior in an Organization Companies have most probably never had they felt so constrained to be more centred on clients. Customers are appealing more, savvy as well as know precisely how to achieve everything they want. In the exceptionally serious and testing conditions of the business, organizations should choose the option to agree. The difficulties do not end with being focused towards client needs alone – customers should have an opportunity to believe that organizations, together with their employees, are ethical and straightforward. Between the most grounded mainstays of any current business, attachment ought to be trust and clients look towards working with organizations that have gained reputations of being honest and straightforward in their transactions. Companies’ inability to keep their customers for long term relationship is one worst outcome of practising unscrupulous behaviours on business. Moreover, expensive litigations are what that lead to business vulnerabilities. Further accusations of the business because of an instance of unethical behaviour may harm the reputation of the company completely, whether the accusations were true or just false allegations that competitors or people with ill intentions circulate. Customers usually rely heavily on structured guidance and accurate information that comes from the company representatives ...
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