Question

1. 1. Explain the advantages of business ethics.
   2. What do you think management's role should be in setting ethical standards?
   3. What is social responsibility? In what ways can demonstrating social responsibility be positive for a business?
   4. What responsibilities do corporations have to their stakeholders, such as stockholders, employees, and customers?
2. Your paper should be 500 to 600 words in length. Use proper spelling, grammar, and APA formatting and in-text citations, if used, for your analysis paper.
3. Use APA Level One Headings (See OCLS APA Writing Styles Guides) to organize your answers so that it is clear to which question(s) you are replying.
   1. For your answer to Question 10a, use “Business Ethics” as your first centered heading.
   2. For your answer to Question 10b, use “Management’s Role in Setting Ethical Standards” as your second centered heading.
   3. For Question 10c, use “Social Responsibility” as your third centered heading.
   4. For Question 10d, use “Responsibilities to Stakeholders” as your fourth centered heading.
4. Your paper should have an APA title page and be in APA format. Make sure you reference resources, any articles you use, or the Bible appropriately when used as an information source

Answer 1

Answer a-Advantages of Business Ethics are-

1. Attracting good employees- Talented employees always look for career advancement opportunities before joining the organization. An organisation needs to be fair, transparent, quality based and must not have favoritism. Good employees would always aspire to join organizations with high ethical values, trustworthy environment, support teamwork, productivity and employee growth.
2. Attracting investor Loyalty: Earning investor loyalty is another important process for growth of the business. Like employees, investors are also concerned about ethics, social responsibility, and reputation of the company. Providing an ethical environment in an organization is a must to attract investors loyalty and boost efficiency, productivity, and profits.
3. Customer Satisfaction: Customer satisfactions is the key to business success. It involves the supply of products or services that very well meet a customer’s need. Customer satisfaction can be used as a metric to manage and improve the businesses. The company should evoke trust and respect among customers through good ethical practices.
4. Avoid Legal issues: A company’s management may be tempted to do illegal acts in order to make more profit. Such actions include not fully complying with environmental regulations or labor laws, ignoring worker safety hazards or using substandard materials in their products. The penalties for such acts can be severe and even harmful for the company's reputations.. Therefore, Companies must try and maintain the highest ethical standards and train the employees about the conduct that is expected of them.

5. Brand Image-Brand image plays an important role in business success and brand image is created over time through business ethics and loyal services. Brand image is created by good quality products, customer service, fair price etc. which required strong ethical base maintained over a long period of time.