However, in some foreign countries it does not matter because they prioritize profit more. For example, in many Latin American countries, it is normal part of doing business with bribery and what not. This essay I would be discussing the importance of Business Ethics. Also global perspective of Business Ethics in Brunei and other country. How Business ethics is viewed in terms of the view point of the employee and customer.The first aspect to be discussed is that business ethics stands the highest ground in some organization for so many reasons.
Organization that practices good business ethics will benefit the business itself. Firstly, it helps improve the employees’ performances because when there are ethical policies run in an organization, morale is high and it encourages the employees want to stay and to work hard to achieve the organization’s goals. Secondly, it improves the customer loyalty towards the organization through shares that the customers have prepared to invest in the company, thus, initiating business relations with the organization that will last long.
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Third, an organization will encounter with bad reputation if they did not perform good business ethics. Thus, allowing the organization to experience scandals of low morale within the employees, the publics and so on. Lastly, practicing good business ethics may be provided legal and financial incentives by the regulatory bodies as the organization is acknowledge for its high ethical standards and employees are educated with ethical policies.
Apart from that, good business ethics has significantly affect the society in a way. This is because organization that practices good ethics is believed to be developing employees with high morale, hence they follow ethical rules and preventing fraud. By means,