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CLASS CODE: INS1016.....

STUDENT ID:......21070095

STUDENT NAME: ..............TRẦN THỊ NGỌC HÂN.....................................................

Date received
CLASS: ...........AC2021C........................................................
(Office Use Only)
SEMESTER: 1, 2022-2023

Subject Name: English for Specific Purposes 1 (INS1016)

Topic number: .....51.....

Submission due date: 12th January 2023

DECLARATION: I declare that

 No part of this project has been copied from any other person’s work except where due
acknowledgement is made in the text, and
 No part of this project has been prepared for me by any other person except where such
collaboration has been authorized by the lecturer concerned.
 Topic: What do you understand by the term "ethical business"? What are
the benefits that companies might gain if they do business in an ethical way?
I. ASSIGNMENT

It is often said that the marketplace is like a battlefield. This represents stiff
competition from businesses. World leaders, celebrities, and other influential
personalities are beginning to vocalize their support for ethical trading and an increasing
number of huge corporations have come under fire over their ill-treatment of workers,
animals, or the environment. And having a good ethics business is becoming more
popular and profitable as the market and entrepreneurs start to react to this gathering
movement.
Business ethics (also known as Corporate Ethics) is a form of applied ethics
or professional ethics, that examines ethical principles and moral or ethical problems that
can arise in a business environment. It applies to all aspects of business conduct and is
relevant to the conduct of individuals and entire organizations. These ethics originate
from individuals, organizational statements, or the legal system. These norms, values,
ethical, and unethical practices are the principles that guide a business. Business ethics
guide executives, managers, and employees in their daily actions and decision-making.
There are many different types can be found, but what makes a business
stand out are its corporate social responsibility practices, transparency and
trustworthiness, fairness, and technological practices. These typical types are often
popular in the economy:
 Corporate Social Responsibility
Corporate social responsibility (CSR) is the concept of meeting the needs of
stakeholders while accounting for the impact meeting those needs has on employees, the
environment, society, and the community in which the business operates.
 Transparency and Trustworthiness
It's essential for companies to ensure they are reporting their financial
performance in a way that is transparent. This not only applies to required financial
reports but all reports in general. For example, many corporations publish annual reports
to their shareholders.
 Technological Practices and Ethics
The growing use of technology of all forms in business operations inherently
comes with a need for a business to ensure the technology and information it gathers is
being used ethically. Additionally, it should ensure that the technology is secured to the
utmost of its ability, especially as many businesses store customer information and
collect data that those with nefarious intentions can use.
 Fairness
A workplace should be inclusive, diverse, and fair for all employees regardless of
race, religion, beliefs, age, or identity. A fair work environment is where everyone can
grow, be promoted, and become successful in their own way.
It’s not only responsible but crucial that businesses study and consider their
impact on workers, communities, and society. Once armed with that information, they
can choose to do the right thing, even if it costs more. This is the definition of business
ethics and what I believe can and will positively change our communities, our
environment, our country, and our world.
It can be said that ethics in business has many benefits, especially in the
long term. For example, employees at companies with good business ethics tend to be
more motivated, they are willing to contribute to the organization, leading to higher
productivity. From there, attracting human resources will also be easier for the
organization. In addition, customers will also be more willing to buy from companies
with good business ethics, leading to brand loyalty, higher sales, and greater profits. Here
we will take a look at some of the benefits of ethics in business.

1. Business ethics help a company retain customers

Customers today increasingly prefer suppliers and businesses that demonstrate
responsibility to the community and have good business ethics. This means that
companies that do not focus on ethics will easily lose market share and reputation will
also shrink, leading to reduced sales and profits.
In a Unilever survey, one-third of users (33%) choose to buy from brands that are
making a positive impact on society or the environment. They will feel better about their
spending decisions if they know the product is ethically and responsibly produced.
Thus, for customers, businesses with good business ethics will increase
customer loyalty, enhance brand image, make their purchasing decisions easier to make.
more present. It can be seen that the more ethically these businesses operate, the more
they will improve overall business performance, especially improving competitive
advantages, leading to higher profits.
2. Business Ethics helps retain employees and increase employee productivity.
The best employees want to work for truly responsible, ethical
businesses. Conversely, if the business has few ethical practices, good employees will
leave the organization, and at the same time reduce the ability to attract new talent. At
that time, recruitment costs will be pushed up, leading to reduced efficiency, performance
and profits. At the same time, such organizations cannot function well without good
 people. We can see today that the level of trust in the ethics of the organization and
leadership is declining, leading to low levels of employee loyalty (worldwide).
. As can be seen, we all want to work in an organization. The organization with
high integrity and social responsibility. We will be happier, more productive, and ready to
contribute to that organization. On the contrary, when we are stressed, it leads to less
productivity, more time for work, more management, etc.
In addition, in a work environment with high business ethics, we will
focus on work, spending less time on internal battles. Therefore, employees will have
more time and energy to serve customers, thereby operating more efficiently.
3. Attract potential investors
Very few investors want to put their money in organizations that lack
integrity and accountability, because they know that their effectiveness will eventually be
diminished if there is a lack of business ethics.
Moreover, through receiving an investment of foreign investment
capital, host countries receiving investment capital have favorable conditions to approach
and penetrate international markets, expand export markets, and adapt faster to
international markets. changes in the world market… the attraction of foreign investment
plays a role as a bridge and promoter of international economic integration, a factor
accelerating the process of world economic globalization.
On the contrary, investors will feel safe investing in businesses with
good business ethics, knowing that their money is being used responsibly, they are not
indirectly contributing to unethical activities. As such, this is clearly an advantage,
investors are more likely to continue to fund companies like this.
In conclusion, it is important for owners, managers, and leaders to have
an understanding about ethics, although financial management and marketing is good to
know. Businesses that adopt the characteristics of creating an ethical environment are
likely to make a decision that promotes social responsibility than profit-seeking motives.

Word count: 974 words

REFERENCE LIST
 Alexander Twin, Investopedia,2022
 C., Ferrell, O. (January 2016). Business ethics: ethical decision making and
cases. Fraedrich, John., Ferrell, Linda. (Eleventh ed.). Boston, M
 Hong Nguyen, jobsgo.vn/
PRESENTATION SLIDES
 SCORE SHEET

I. ASSIGNMENT
Appropriate referencing of relevant literature/Number of references (/5)
Clearly elaborated content with sufficient explanations (/30)
Good organisation with proper introduction, supporting body/details & conclusion (/10)
Accurate grammar, spelling and punctuation (/10)
Word choice and proper use of business terms (/10)
Format (alignment, font, page setup, spacing, length) (/5)
TOTAL SCORE/70
II. PRESENTATION VIDEO
Video design (topic-related, graphic, sound....) (5 points)
Statistics, figures, and visual aids (5 points)
Presenter’s fluency (5 points)
Presenter’s intonation and pronunciation (5 points)
Presenter’s language use (5 points)
Presenter’s delivery (5 points)
TOTAL SCORE/30

OVERALL SCORE = ………../100