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Business Studies for Secondary Schools
(f) The business code of conduct Improved employee retention: Strong
must be relevant at a given time. If business ethics often encourage managers
any regulations are seen not to be to show appreciation for an employee’s
working, a proper measure should hard work. As a result, team members
be taken including finding a suitable may be more loyal to the organisation
regulation that will correspond with and strive to be more productive. It also
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the business’s culture. It is also a means that employees at all levels are
recommended approach to remind less likely to be fired for reasons related
employees of the seriousness of to unethical behaviour.
the business code of ethics. It is Stronger collaboration: Team members
worthless to have a business code of who practice business ethics have respect
ethics that cannot be implemented or for one another and work well together.
integrated with the business culture. This solidarity not only fosters a pleasant
It is also important to have a business working environment but also encourages
ethics officer who is responsible for team collaboration and productivity.
ensuring the enforcement of the
codes of conduct. More effective leadership: Managers who
follow business ethics are more likely to
treat employees well. As a result, teams
Activity 5.4 are more motivated to follow their leader.
This minimises indiscipline issues and
Visit a nearby business community, encourages teams to trust managers and
interview at least three business owners supervisors when tough decisions need to
on the ethical behaviours and CSR be made.
initiatives they cherish in their day-
to-day operations. Establish drivers Increased professional value: When
or motivations behind such ethical employees have a positive attitude toward
behaviours or CSR initiatives. the work and those they work with, it
can increase the quality of work. It also
increases their value to the team and the
Benefits of maintaining business ethics business as a whole.
in the workplace
Creation of a positive image: Business
There are tangible and intangible ethics create a good organisational image
benefits to maintaining ethical practices when employees and employers follow
in the workplace. Some of benefits ethical practices. The positive image
of maintaining business ethics in the may lead to improvement in profitability,
workplace include: attracting collaborators, employees, and
customers.
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