The Importance of Ethical Standards in Business

promote a quality workplace by investing in people’s development, providing opportunities for growth and safeguarding the organization's interests and corporate rights.


Implementation of Quality Standards


Standards guiding business operation are vital to any company or institution. For organizations to be able to deter persons from breaking the set laws, it is imperative to establish strict disciplinary action including termination of engagement contracts. Individuals that are not loyal to the institutions should be disciplined after an objective investigative process (Friedrich 102).


Communication


Communication is vital for any business or institution. It is necessary for organizations to promote effective communication strategies both for employees, customers and third parties. Managers should be collaborative and friendly. The working environment should be conducive to all parties. Staff members should not present obstacles to their colleagues while the customer should feel valued.


Environmental Sustainability


It is vital for institutions to make efforts in protecting the environment. Corporations should innovate ways of reducing the emission of poisonous gases and misuse of natural resources. Use of sustainable approaches will enable efficient management of the environment hence maintaining or improving people’s quality of life.


In conclusion, maintaining a high ethical standard is a critical strategy which most likely increases the chance of preserving beneficial partnerships. Also, upholding ethical standards portrays a positive image or the institution to the society in which it exists.


Works Cited


Friedrich, John P. Philosophy Type Interaction in the Ethical Decision Making Process of Retailers. 1988.


Jennings, Marianne. Business Ethics: Case Studies and Selected Readings. 2018.

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