Behaviors of organizational members also depend on the company’s ethics. In the present business environment business ethics has become a very important issue. Various new trends and processes are incorporated in businesses for enhancing their values. For performing business functions effectively organizations give importance on ethical behavior of its employees. This helps the organizations in avoiding various legal issues and enhancing their brand reputation. With the change in business environment, ethics of companies have experienced lots of changes. These changed ethical policies and practices facilitate the companies in holding their position in competitive business environment. In this essay new trends in business ethics will be discussed in detailed way. For explaining the new trends, traditional business policies and its issues will also be highlighted in this essay.
The concept of business ethics was developed long back. Around 1970s companies started focusing on establishing various policies and principles ethics. Earlier the companies only believed in the concept on money making. They were not concerned about people, environment and society. As a result the rules and principles of the business were developed in such a way which helped them to archive the money making objectives of businesses. Earlier for enhancing the profitability and revenues most of the companies were involved in performing many immoral activities. That time ethical policies and practices were only implemented by religious organizations. Persons conducting business activities were not concerned about business ethics. The term business ethics was originated in USA (Lencioni 67). People were getting tortured in the name of business. So certain ethical policies and practices were established in business for conducting trade ethically. Traditional business ethics principles and policies influenced the companies in developing strict ...Show more