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Using 150 word commentary please respond to. What is whistle blowing? why is ethics in business...

Using 150 word commentary please respond to. What is whistle blowing? why is ethics in business essential to a healthy, profitable corporation? What is the appropriate process for whistle blowing?

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Expert Solution

What is whistleblowing?

It is a useful mechanism for uncovering corporate misbehavior, with clear economic and governance impact on the companies involved. A whistleblower is a person who discloses any sort of information to the public or some higher authority about any wrongdoing that is going on.

Why is ethics in business essential to a healthy, profitable corporation?

Business ethics are important because-

  • Ethics improves a business’s reputation by the means of doing good work, treating customers in the right manner, etc.
  • Ethics in business help in retaining the top talent and having a strong employee retention rate is beneficial for a business in various aspects.
  • Business ethics limit the risks for a business or other legal trouble.

What is the appropriate process for whistleblowing?

The appropriate process requires the following-

  • Step 1- The company code of conduct is key
  • Step 2- Safety for the whistleblower and for the accused
  • Step 3- A secure solution is vital
  • Step 4- Convenience for both whistleblowers and the company
  • Step 5- Communicate the objective of the service

keosha answered 1 year ago
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