ETHICAL STANDARD IN BUSINESS 1

ETHICAL STANDARD IN BUSINESS

NAME
UNIVERSITY AFFILIATION
DATE
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INTRODUCTION
There are various methods of improving ethical standard in business so as to enhance profit
in business. There are two factors to be put under consideration. Either regulating business
activities or establishment and enforcement of ethical standard by the federal government
.Business people are affected directly or indirectly by the factors to improve ethical standard
in business.
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Ethical standard in business can be improved in business by incorporating elementary value

reaction to high levels of personal beliefs and consciousness in the curriculum of business
schools and institutions.. Proper teaching of themes such as morality of obedience and
application of these skills lead an individual to become a responsible and morally upright
worker. The individual becomes committed to the business organisation and focus on
business gain.( David .P, 1981)
Application of code of ethics in organisation, leaders serving as an example to be emulated
by the rest of the workers. When leaders serve as role mode in practising the application of
high moral and ethics standard in business, the junior workers will copy the example and
maintain good moral standard of the business organisation. Ethical behaviour has great
impact on the growth of the business company hence setting good example by the leaders for
the organization means great profit in the business. (Endris .O, 2020)
Federal government should establish and enforce ethical standard compared to business
regulating its own activities .Many business organisation are after making large profits thus
they go to an extend of using cheaper less reliable material and ignore potential dangers such
as safety of the workers and the consumers. Proper establishment and enforcement of the
ethical standard by the government lead to reduced health risks of both the consumers and the
workers. The workers also enjoy good working condition due to enforcement of these ethical
standards by the federal government.
Establishment and enforcement of ethical standards by the federal government ensure
qualified employees are employed and not underage youth. Compensation of the employees
in case of any danger at work or pension of workers is ensured that the above is adhered
to. .Ethical standard ensure favourable condition for the employee thus the federal
government is the right institution to enforce these ethical standards.
Employed business people enjoy good favourable working conditions since the business
organizations take into consideration the workers’ health and moderate wages or salaries.
Good working relationship between employers and employees is maintained since senior
workers cannot easily threat to dismiss junior workers without proper channel.
Consumers enjoy good products knowing very well the federal government has ensured good
process for the production of good healthy products .The products from the business
companies are safe to be consumed by the customers. The establishment and enforcement of
these ethical standards by the federal government is the best action a government can do to
the business sector.
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REFERRENCES
David. P (2020) Business & society 20(20) 27-31, 1981
Endris. O 2020 Accounting Education journal 21(6) 599
http://hbr.org/1966/03/regulation-by-b