TABLE OF CONTENT

TITLE PAGE NUMBER

1.0 Introduction 2
1.1 Ethics 2
1.2 Business Ethics 2

2.0 Types of Business Ethics

2.1 Commitment 3
2.1.1 Maintain High Enthusiasm 3
2.1.2 Sense of Responsibility 3
2.1.3 High Work Drive 3
2.2 Transparency 4
2.2.1 Firm Foundation of Trust 4
2.2.2 Increasing Reliability 4
2.2.3 Company Loyalty 4
2.3 Integrity 5
2.3.1 Positive Workplace Culture 5
2.3.2 Strong Moral Compass 5
2.3.3 Ethical Decision Making 5
2.4 Business Savvy 6
2.4.1 Technical Knowledge 6
2.4.2 Smooth Workflow of the Company 6
2.4.3 Good Judgement 6
2.5 Diversity 7
2.5.1 Unbiasedness 7
2.5.2 Diversification of Skills 7
2.5.3 Grow Business Talent Pool 7
3.0 Conclusion 8

4.0 References 9

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4.0 INTRODUCTION

1.1 ETHICS
Ethics or good way of thinking is a part of theory that includes systematizing, safeguarding,
and prescribing ideas of good and bad direct. This term can also refer to rules or guidelines that
establish what conduct is right or wrong for individuals and for groups. For example, codes of
conducts express relevant ethical standards for professionals in many fields such as medicine, law,
journalism, accounting and business.

1.2 BUSINESS ETHICS

Business ethics is a type of applied ethics or professional ethics that looks at moral
principles and moral issues that can emerge in a business situation. These moral values originated
from people, authoritative articulations or from the lawful framework. These standards, values and
morals are the guidelines that are used in a business and applies to all parts of business demeanour
and is pertinent to the conduct of people and organizations. Subsequently, business ethics helps
distinguish morals in potentially controversial subjects including corporate governance, insider
trading, bribery, discrimination, corporate social responsibility and fiduciary responsibilities.
There are many different business ethics that can be applied in a business such as commitment,
transparency, integrity, savviness and diversity.

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2.0 TYPES OF BUSINESS ETHICS

First and foremost, commitment is the act of being dedicated or obliged to a task, which
is one of the most crucial traits in a business.

2.1 COMMITMENT

2.1.1 MAINTAIN HIGH ENTHUSIASM

It helps to maintain a high level of enthusiasm amongst the people working in the company.
A high level of enthusiasm is helpful towards work effectiveness as it provides a high natural drive
to complete tasks and achieve business goals.

2.1.2 SENSE OF RESPONSIBILITY

Other than that, commitment contributes to a person’s feeling of responsibility towards the
goals, missions and visions of the organization. It encourages them to handle tasks with care and
interest. For example, they are able to see the importance of submitting tasks on time to create a
smooth workflow.

2.1.3 HIGH WORK DRIVE

A high work drive is also embedded into employees that are committed to their job. They
are able to strive towards achieving the final goal without giving up easily even after long hours
of work. When a company shares high commitment, employees co-operate at a higher level.
Commitment forces camaraderie, trust, and high work drive. Without a motivated workforce, a
company could lose all that they have earned throughout the years, be it dignity or market position.

All companies should make sure commitment exists in their business to strive towards a
successful carrier.

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2.2 TRANSPARENCY
Transparency is also a very important trait in a business. This concept is being
‘transparent’, which means being able to let every single detail about the business to the employees
know.

2.2.1 FIRM FOUNDATION OF TRUST

An individual builds a firm foundation of trust between the employers and employee. It
embodies honesty and open communication because leaders or employers have to be willing to
share information. This will help them communicate well with each other and create a sense of
comfort.
2.2.2 INCREASING RELIABILITY
Maintaining this moral also increases reliability of employees. Generally, employees will
work for honest employers. Hence, being honest about the business to employees or stakeholders
will create a good virtue. This creates a sense of security in the business which will guarantee a
motivated worker and a more efficient workforce.

2.2.3 COMPANY LOYALTY

Other than that, employees’ loyalty towards company increases. They will stay and commit
to the company for a longer period of time. Trust is the most important key to a business firm and
transparency will help them. Transparency should always be maintained for a firm foundation of
trust in the company and business.

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2.3 INTEGRITY
Other than that, integrity is also a very essential and necessary value in a company. Integrity
is viewed as the honesty and genuineness or precision of one's actions.

2.3.1 POSITIVE WORKPLACE CULTURE

This attitude helps cultivate a positive workplace culture which creates a more comfortable
working environment for the employees to work in. The employees will be happy and satisfied
when they come to work and they will have increased work drive to carry out their tasks.

2.3.2 STRONG MORAL COMPASS

Integrity is also a trait that is a strong moral compass which exists as a guidance. This will
help make sure that the employees of the company will have strong wills and not easily submit
themselves to temptations that will benefit oneself and hurt others. For example, leaking
company’s information to third parties. Therefore, with the presence of integrity in employees, the
company will surely be able to withstand themselves from being involved in bribery and scandals.

2.3.3 ETHICAL DECISION MAKING

Apart from that, integrity too contributes to ethical decision making in a company or
business. The leaders of the company will be capable to make wise decisions without hurting
neither their employees nor third parties.

Hence, every company should be run with integrity to make sure the company is trusted
and respected by the general public.

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2.4 BUSINESS SAVVY
Business savvy is often recognized as a skill where good outcomes are made from
strategical and smart decisions, which is a necessary trait in a company. These smart decisions
come from one’s technical expertise and deep understanding in their field of work.

2.4.1 TECHNICAL KNOWLEDGE

Technical knowledge is one of the most crucial criteria in running a company. Obviously,
this is to maintain a high quality of task results in a company, as well as creating a good image to
customers. With a wide range of technical expertise, it is easier to keep up with the latest tools,
utilizing them to improve work quality.

2.4.2 SMOOTH WORKFLOW OF COMPANY

Also, deep understanding of one’s job is important for smooth workflow in a company,
especially leading one. For example, employers would need to worry less about the employees’
work quality and progress. This creates a very comfortable environment for the employees to work
in, thus increasing their happiness and satisfaction towards the company.

2.4.3 GOOD JUDGEMENTS

Lastly, business savvy also includes possessing the ability to make good judgements. This
is crucial for company leaders, as their decisions would affect the entire company. Therefore, they
should have prudence and be careful before deciding anything. This is important to avoid any
possible losses in the business.

With that said, each company should possess business savvy so that it will be trusted by its
clients for their work quality.

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2.5 DIVERSITY
Diversity is an important and unique ethic to have in a business and company. When
placing diversity to thought, what springs to mind? The first thing that comes to mind is age,
gender, race and cultural background.

2.5.1 UNBIASEDNESS

Sure, diversity begats unbiasedness in a business but there is some much more that lies
beneath. Hiring a diverse team of employees is important to a business because each of them can
bring different ideas and creativity they can learned throughout their arc of life. By hiring
employees with different personalities and at varied stages of their career, it can help foster
creativity and offer a range of perspective and ideas.

2.5.2 DIVERSIFICATION OF SKILLS

Employees from diversified backgrounds can also offer a selection of skills and abilities.
The crossovers of skills can be beneficial when assisting others in a business. Therefore,
employees can learn from each other’s differences.

2.5.3 GROW BUSINESS TALENT POOL

Diversity also tremendously helps grow the business talent pool. A wider range of
candidates will be enticed to a company that adopts diversity. People want to work in a business
inclusive of diversity with can help with employee retention. The chances of hiring extraordinary
unprecedented increases.

As expressed, diversity is a key to a successful business because it helps develop a higher

team morale that generates efficiency in a business.

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3.0 CONCLUSION

To summarize this research, business ethics contributes to many aspects of a company.

This includes relationships between employers and employees, company workflow and work
quality. Obviously, every company should maintain business ethics which include commitment,
transparency integrity, business savvy and diversity throughout the timespan of their career, as it
would be beneficial to it in the long run.

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References

1. En.wikipedia.org. (2019). Ethics. [online] Available at:

https://en.wikipedia.org/wiki/Ethics [Accessed 16 Sep. 2019].

2. Ethics Unwrapped. (2019). Ethics - Ethics Unwrapped. [online] Available at:

https://ethicsunwrapped.utexas.edu/glossary/ethics [Accessed 16 Sep. 2019]

3. TWIN, A. (2019). Business Ethics: Fair Business Policies Within Controversial Subjects.
[online] Investopedia. Available at: https://www.investopedia.com/terms/b/business-
ethics.asp [Accessed 19 Sep. 2019].

4. Bhat, A. (2019). Commitment to Work: Definition and Tips to Improve Work

Commitment | QuestionPro. [online] QuestionPro. Available at:
https://www.questionpro.com/blog/commitment-to-work/ [Accessed 16 Sep. 2019].

5. Deering, S. (2019). What Are the Benefits of Diversity in the Workplace?. [online]
Undercover Recruiter. Available at: https://theundercoverrecruiter.com/benefits-
diversity-workplace/ [Accessed 16 Sep. 2019].

6. Mintz, S. (2019). Establishing Trust in Business. [online] Workplace Ethics Advice.

Available at: https://www.workplaceethicsadvice.com/2017/03/establishing-trust-in-
business.html [Accessed 16 Sep. 2019].

7. Alton, L. (2019). How Transparency Became a Top Priority for Businesses, and Why You
Should Care. [online] Entrepreneur. Available at:
https://www.entrepreneur.com/article/295739 [Accessed 16 Sep. 2019].