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Discuss the importance of business ethics and the consequences of unethical behavior (CLO 1 and 2). Business ethics have a huge impact on really every aspect of a business. Not only does this affect employee life/engagement in the work, it affects everything up to stakeholders in a company! You can find many instances of unethical companies that failed completely due to their actions. When a business is unethical, it leads to not only social issues, but financial issues as well. According to Spooner, poor ethical decisions can affect a company in ways such as: legal problems, poor employee performance, and poor company credibility. However, when a business is ethical they can not only have a great reputation, which improves a company financially, but they can also even get financial breaks such as write-offs for ethical acts like donations. To me, business ethics are some of the most important parts of a company and they influence so much more than what many may think.
Spooner, A. (n.d.). Importance of Ethics in Business. Retrieved from https://business.lovetoknow.com/business-operations-corporate-management/importance-ethics-business#:~:text=Poor ethical decisions can affect,way employees do their job.
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