The other important element about operating in an ethical manner is that the customers are assured of getting standard products which can which can give the organizations concerned a competitive advantage. Products that are desired by many people are advantageous in that they improve the effectiveness of the business since the customers are likely to create loyalty towards the organizations that operate in an ethical manner. It can be seen that companies that operate in an ethical manner have a competitive advantage than a disadvantage since their business practices are likely to appeal to the interests of many people. As such, 1997 OECD Convention on Combating Bribery of Foreign Public Officials in International Business Transactions, signed by 34 member states is a positive development towards promoting ethical conduct of businesses (Bunker & Casey, 2012). Essentially, businesses should be accountable for their actions to the targeted people.
Bunker, R., & Casey, K. (2012). Facilitating payments versus bribes: Are we sending conflicting ethical signals in accounting eduction? International Journal of Business and Social Science, 3(8), 47-50. Retrieved from