Answer to Question #177630 in Management for Daniel Nnaemeka Nwebube

Question

Discuss the importance of ethics in business and the possible consequences of non-ethical behaviour as being suggested in the case study when it comes to the Covid-19 crisis

Answer 1

Ethics guide company officials in catering for the needs of the staff and the community from which the organization derives its resources. They are the foundation of strategic decision-making, employees retention, development and maintenance of company reputation exemplifying the foundation of respect towards all stakeholders in the corporation.

Thus, in response to Covid-19 pandemic, businesses are required to adhere to all the established measures against the pandemic to mitigate its spread. However, compromising such measures would cause a business to lose its credibility and reputation resulting in the lose of customers, high employees turnover besides attracting heavy sanction from the government.