The Importance Of Business Ethics
In order to fully understand ethics and how they relate to business, one must first define its key components. In this regard, it is reasonable to assert that the expectations of each party constitute an obligation on the part of the other party to undertake the responsibility to ensure the uniformity of the transaction to previous experience, or to provide information to the other party if it is foreseen that it will be different than before.
This would hopefully end up with more motivated and happy employees especially with better working environments and motivation tactics from managers, benefiting the business with a higher productivity outcome in a positive manner, giving Nike a better reputation by showing its stakeholders and the general public that it has changed its suppliers methods.
All enterprise decisions and activities aim to improve the RBE’s business performance; to help build social capital in its economy; and to work with leaders in business, government, and civil society to develop the essential market-oriented legal framework and reliable judicial institutions.
While there are some exceptions, business ethicists are usually less concerned with the foundations of ethics (meta-ethics), or with justifying the most basic ethical principles, and are more concerned with practical problems and applications, and any specific duties that might apply to business relationships.
As part of our recent revisions, we updated the Code to more clearly define Cabot’s expectations of employees across multiple risk areas, including enhanced discussions regarding anti-corruption, international trade laws, conflicts of interest, gifts and entertainment, proper use of social media, labor practices/human rights and protection of privacy.