Business Ethics Basicsby Robert Krznaric
Business organizations require shrewd leaders and practices, but
this does not mean that ethical considerations do not come into
play. In fact, thriving companies integrate ethical practices into
their daily operations in ways ranging from ensuring fairness in
business transactions to supporting benevolent causes in the
community. Though there is certainly a moral element to business
ethics, they fundamentally protect the company and its employees,
ensuring good legal standing, positive reputation, and the
derivation of non-monetary value.
The concept of ethics as a value-contributing element in a
business organization originated at a time when the maximization of
profits was viewed as a companys sole purpose. In the last several
decades, an alternative approach emerged suggesting that
corporations have a responsibility for the community. Today, it is
standard practice for business organizations to make contributions
to the communities out of which they grew and which allow them to
thrive. Environmental and social initiatives are popular ways for
companies to make a positive impact.
About the author: Robert Krznaric is the President and CEO of
specialty medical device researcher, developer, and manufacturer
YOLO Medical, Inc.
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