Importance of Ethical Practices in Business Decisions.

 With the rise of business problems and scandals storming the global business world, business managers are required to generate decisions in an ethical manner. This is principal because ethical decision-making activities contribute to protecting the interests of the employees and also of the different types of stakeholders whether internal or external to a business organization. Furthermore, ethical decisions would also tend to have potential implications for the business corporation in that the same may tend to potentially affect the positions and status of different groups and employee and stakeholder communities. The paper in the light of the above issue aims to critically analyze the ambit of ethical decision-making practices.

The concept of ethical behaviour or ethical practices relates to the influence of honesty, fairness of treatment generated to different individuals. It can also be related to the level of equality reflected in the interpersonal behaviour among individuals. Furthermore, several scholars have related it with the development of professional relationships among people working in an organization (Riivari & Lämsä, 2014). Ethical behaviour reflects on the existence of dignity and equal rights of individuals working as a community in a business organization. The concept of equality relates to the aspect of fair treatment generated to the different individuals operating in a business organization (Riivari & Lämsä, 2014). It also reflects the existence of honesty in terms of the level of truthfulness pursued in the dialogues between the different organizational individuals. Moreover, the aspect of fairness relates to the generation of decisions in a fair and equitable fashion that works in an unbiased manner and legitimate with the existing organizational rules. Ethical behaviour or practices related to the level of respect generated to the different individuals.

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In terms of ethical behaviors, it is required by the managers to pay heed to the needs and aspirations of the different employees in the organization to generate effective decisions (Welsh & Ordóñez, 2014).&nbsp. &nbsp.&nbsp.

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