April 2024
Beginner
760 pages
39h 4m
English
book
Fernando's Business Ethics and Corporate Governance, 3rd Edition
by K P Muraleedharan, E K Satheesh
Content preview from Fernando's Business Ethics and Corporate Governance, 3rd Edition
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Chapter 3
Ethical Dilemmas, Sources and their Resolutions 107
WHY BUSINESSES SHOULD ACT ETHICALLY?
There are a number of reasons why business should act ethically:
•
To meet stakeholder expec
tations (and protect business reputations)
• To prevent harm to the general public
•
To build trust with key sta
keholder groups
•
To protect themselves from
abuse from unethical employees and competitors
• To protect their own employees
•
To create an environment
in which workers can act in ways consistent with their values
HOW CORPORATIONS OBSERVE ETHICS TO REDUCE DILEMMAS?
Organizations have started to implement ethical behaviour by publishing in-house
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