Lp1 Assignment: Importance Of Ethics In A Business

LP1 Assignment: Importance of Ethics in a Business OrganizationName:Course:Institution Affiliation:Date:Ethics in OrganizationsEthics in a business organization is not only a differentiation factor but also an imperative element that affects the bottom line of the organization. Both consumers and employees want to work with a business organization that recognizes their inherent dignity as human beings. It takes ethics for businesses in the marketplace to recognize the human rights of their employees and consumers. The contemporary workplace has depleted ethical behavior in many business organizations, thereby, leading to corruption, poor character and low productivity. Nevertheless, an organization that understands its value and its role in the community, would establish clear ethical behaviors for its workforce. Developing clear ethical values that guide the conduct of the business organization and the people that work in the organization not only improves the competitive advantage but also creates a focused workforce that implements the vision of the organization (Kelchner 2014).The main significance of ethics in a business is the reality to developing a common behavior for the employees to model. Ethics helps to shape employees to operate within the best