Writing: Why are ethics important in business

Main Idea: the important of ethics in business

1. Point1: Ethics Improves Your Business Reputation

-Business ethics help ensure a good reputation for your company. Not only does it feel good
to be part of a company with a great reputation, but it’s great for business. When you have a
reputation for consistently being ethical in how you source and build products, and treat
employees, customers and the community, more people will want to do business with you.
Even  social media ethics is important for your reputation.

-This means you’ll appeal to a variety of people and organizations that will be great for
boosting your business such as:

 Clients and customers who believe in your company and want to support it

 Trade and community organizations who want you as a member

 Investors who want to help your business grow

 Communities that want to host your business or events

 Other businesses that want to partner with you

 Newspapers, magazines and other media who want to offer you special recognition

2. Point 2: Business Ethics Help You Retain Top Talent

-Good ethics at a business start at the top. If you’re a business owner or manager, it’s important
to lead by example. When employees see you make ethical choices, it lets them know that they can
have confidence in the company; they know that you’ll do right by them and your customers. This
boosts morale and as word spreads about how you treat employees well, you’ll draw in good
workers. Having strong employee retention rates will help you save money over time on recruitment
costs and training.

-The importance of business ethics reaches far beyond employee loyalty and morale or the
strength of a management team bond. As with all business initiatives, the ethical operation of a
company is directly related to profitability in both the short and long term.

3. Point 3 : Limit Risk with Good Business Ethics

-Businesses that practice good business ethics face less risk for fines and other legal trouble. Sure,
the law and regulations are complicated, but a lot of trouble can be avoided just by doing what’s
morally right. If business decisions are made with that in mind, you can save the stress of having to
defend your company against lawsuits and fines.

Overall, when executives and employees at all levels of a company make good, ethical decisions, it’s
good for the company. All these factors above help the company grow, have bigger profits and a
strong bottom line.

At Charter College, studying ethics is a key part of our business program, along with other
fundamentals that can help you build a long, successful business career. Contact us today for
details.