Answer to Question #184345 in Finance for hayatt

Question

If business ethics is understood under the concept of universal values then most of the

conflict among ethical values, the laws of state and the codes of the corporate world

could be eliminated. Any individual, professional, corporation or small & medium

business can make one or more of these universal values the focal point of their

business; be it trust, integrity, fairness, compassion etc and the rest of the values will

follow. Identify which two universal values influence you OR your

organization/business and discuss how this influence & focus has led to ethical decision

making and a better reputation for you OR your organization (Write about any ONE -

yourself or your organization).

Answer 1

Business ethics can be defined as the policies of the business and the practices which should be followed by the employees of the business.

Two universal values which can influence the organization, individual, and a business:-

- Honesty always plays an important role in the organization or a business.

- Trust also plays an important role in the organization or a business.

These 2 universal helpful in the ethical decision in business:-

- If every employee will be honest in the organization then it will help the organization to make good decisions.

- Honest and trust always helpful for making a good brand image of the company because it helps to win the trust of the customers.