Ethics in Business

After a two-year string of corporate scandals, the term "business ethics" has become reliable fodder for late-night talk-show hosts in search of easy laughs. Some people wonder if being ethical these days simply means not getting caught doing something illegal. The only question seems to become "Is it legal?" A society gets itself in trouble when it perceives legality and ethics to be the same. Although following the law is an important first step, ethical …

…consistency in decisions, improvements in efficiency and fewer violations of law and regulation" (ethics.org). Overall it comes down to multiple reasons why good ethics equal good business: the moral imperative, the legal imperative, the pragmatic imperative, and the change imperative. Companies that run on trust, honesty, integrity, fairness and respect seem to be more efficient, have an easier time attracting and retaining the best employees and seem to fare better in the market place.