Business Ethics vs. Success in Modern Business Research Paper

telephone circuit Ethics vs. Success in Modern Business - Research Paper Exampleen rotting and success in crinkle in this research was retrieved from the university faculty, contemporary firms and graduate students of pedigree.The fundamental concept on which the term business ethics is based is that individuals should be held accountable for their practices in business. Businesses are at the strategic center of a civil society, and they have a stake in their communities (U.S. Department of Commerce, 2004). In courtly terms, business ethics are thought of as drivers for successful business. In the modern age, companies and business entrepreneurs assess the effect of ethics on their individualistic and collective performances. A lot of studies have shown that unethical practices and decadence have been incurring the companies a cost worth billions of dollars every year. Such studies have portrayed a negative image of corruption and have emphasized upon the potential ways in whi ch the unethical business practices affect the brand image, value of shares and the overall profitability of the business (Maheshwary & Ganesh, 2006). Following the principles of ethics is very grievous for a companys success (Turner, 2006). I have always recognized that the object of business is to make money in an honorable manner (Cooper cited in Rajeev, 2011).Unethical business practices have traditionally caused a lot of damage to the business. However, not many business entrepreneurs are aware of the toxicity of such(prenominal) practices because the costs are often not obvious and come as overheads. Most of the costs of the unethical business practices are hidden. Since the business entrepreneurs can not call these hidden costs, they can only see the convenience that the unethical practices bring them. Thus, many of them are reluctant to abandon such practices. However, the harm caused by such practices is inevitable and is often borne by the society as a whole. For example , when an rock oil company discharges oil into the sea, it is the marine