Benefits and effect of Ethical Behaviour
The main benefits for a business of behaving ethically are:
- Avoidance of expensive and embarrassing PR disasters.
- Better image with consumers and better sales.
- Better recruitment.
- Better employee motivation because employees are proud of their jobs.
- Increased costs as businesses try to do what is expected e.g. not pay bottom wages, or dump pollution cheaply at sea.
- Conflict between profit and ethical standards.
- Business practice and organizational culture will have to be changed.
- Changes in relations with suppliers. This may mean passing the same standards down the supply chain, and severing relations with suppliers not prepared to meet the same standards.
Last modified: Saturday, 9 October 2021, 5:02 AM