Importance of Business Ethics in Organisation

BUSINESS ETHICS

Table of Contents
INTRODUCTION...........................................................................................................................1
MAIN BODY...................................................................................................................................1
PART-1............................................................................................................................................1
Importance of having certain business ethics in organisation................................................1
Issues given in case study ......................................................................................................2
Role of business within society .............................................................................................2
Effect of business on stakeholders.........................................................................................2
Recommendations .................................................................................................................3
Ethical leadership management in an unethical organisational culture..................................3
PART-2............................................................................................................................................6
Reflective Essay of Ethical Leader.........................................................................................6
CONCLUSTION.............................................................................................................................7
REFERENCES ...............................................................................................................................8

INTRODUCTION
In simple terms business ethics is defined to be a study and practice which is studies to
understand several other sections such as corporate responsibility, fiduciary responsibilities,
discrimination, corporate governance, insider trading as well as bribery (Abend, 2016). In legal
terms such ethics are required by each organisation to maintain a smooth functioning in
environment. Such are majorly required by organisation to basically gain public approval. The
report mentioned below consist of two major parts where the first represents basic understanding
of it. Also, two ethical theories are also explained briefly in the second part including the
understanding of ethical standards which shall be given and leadership reflective para to
understand things in better perspective. In this report Tuna case is discussed since policies of this
organisation is harming natural living habitat for Tuna fishes in sea.
MAIN BODY
PART-1
Importance of having certain business ethics in organisation.
The basic presence of having certain ethical and moral beliefs is provided for giving
guidance and turn towards having beliefs, certain business decisions and values to be followed
by an organisation while working. There are some basic requirements which need to be full-
filled to be consistent in following ethical environment such as rules, laws and collusion, each
business setup has to follow certain ethical standards and help them run a good and smooth
functioning while operating business (Barry, 2016). All the rules and regulations created by law
should not be violated or else they shall have to bear some legal obligations and the democratic
working phase will change for the company. Its been studies that organisations which have
always followed correct form of ethics and have maintained the correct standards which shall be
done in the formulations and create the proper decision which shall help an organisation to
correctly modify and provide a better monetary terms which have to be specified in nature to
conclude it. The basic grounds followed here shall be to make more money and create certain
benefit in organisation. These are usually considered as professional ethics which analysis all
such issues in organisation related to morals and principals. This is usually applied to all
organisations and is connected to each business aspects which is for conducting business in
context of whole firm. In general there are three types of business ethics which are mentioned as
1