ENTREPRENEURSHIP

Detailed explanation-1: -Ethical Business Practices Can Reduce Costs More businesses are discovering that these pursuits can help them reduce costs, thus effectively increasing their profits. Sustainable Brands, an alliance of organizations committed to sustainability, recently reported significant savings for many leading businesses.

Detailed explanation-2: -In his book, There’s No Such Thing as “Business” Ethics, John C. Maxwell firmly contends that there is no difference between business ethics and general moral behavior. “There’s no such thing as business ethics, ‘’ writes Maxwell, “there’s only ethics.

Detailed explanation-3: -Business needs to remain ethical for its own good. Unethical actions may yield positive results in the short run and even give meteoric rise. However, for sustainable business and profitability of the firm, business is required to conduct itself ethically and to run activities on ethical lines.

Detailed explanation-4: -There’s no agreed definition of an ethical business, with many people having their own interpretation of the term. However, it’s generally agreed that an ethical business is one which considers the impact of its actions, products and services on both society and the environment.