ds of business dealings between customers and the manufacturers, but alsothedealings that take place between suppliers, stakeholders, shareholders and business managers. An important fact that needs to be kept in mind is that ethics is the final face of victory in any business deal as ethical decision making is one of the main responsibilities of any business organization (Asgary, and Mitschow, 2002, p. 45).
With an increase in globalization, there is an increase in competition among businesses and organizations with an increase in risks of business failure and losses.Thereby there are various kinds of crisis situations being faced by the organizationsthat lead these organizational executives in making certain decisions that may be ethical or unethical based on situations.
These days due to an increased awareness in the community;organizations are being ranked in accordance to their ethical behaviors that includes customer dealings. Top notch organizations are those that have achieved success by making use of ethics in the toughest of times thereby making ‘ethical’ money. Chinese organizationsare often considered the best leading organizations on the globe and one of the main reasons that lead these organizations is ethics. There are certain points in businesses that make it difficult for decision to be made as these critical situations can bring business managers at cross roads thereby it becomes hard to decide about the right decision that needs to be made in order to solve the issue (Ferrell, Fraedrich, and Ferrell, 2006, p. 78).
Obligations is an important part of ethics in an organization highlighting the fact that there are certain factors that make an organization have obligations towards parties that include stakeholders and shareholders.
It is important to realize that ethics in an organization deal with an implementation of principles, morals and rules in an ethical context of an organization. Thereby ethical behavior in businesses is ...
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