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A diverse group of professionals in suits sit around a conference table with a laptop displaying ethical text. Framed quotes are on the wall.

The Substance of Ethics Ethics is basically about what is right and wrong and why. In business, it is not just about following the law. You can follow the law and still act unethically. Ethics asks what we should do, not just what we can do. Businesses exist in society, so they have responsibilities beyond just making money. Profit matters, but it is not the only goal. Trust is huge in business. Without trust, markets do not work well. Reputation takes years to build and can be destroyed quickly. Ethical issues often show up when there are tradeoffs between profit and fairness. A company’s values should guide decisions, especially when the answer is not obvious. Ethical leadership influences the entire organization. Companies that ignore ethics often focus too much on short term gains. Long term success usually depends on acting responsibly. Ethics is connected to legitimacy. If people lose trust, the firm loses support. Doing the right thing can sometimes cost more upfront but helps long term. Mehr sehen

#business #meeting #ethics

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