Business ethics are concerned with activities that can result to civil action, breaking the criminal law by business work activities, and a bad image portrayed by business’ activity. It is thus, imparative for business public relation experts to guide employees for proper conduct, otherwise this could result to financial disater resulting from civil suits and market share loss. The management fo the company should take into consideraytion the demands and expectations of the stakeholdes as a strategy in decision making.
Custmers lose trust and commitment due to unethical business practicess by withdraw of business engagements with the company. The demands of the customers are met as expected, and thus they will enforce their expectation in relation unethical behavior through the legal system. Olack ofg social responsibility will create a negative image of the company and stakeholders will distance themselves from the company, hence its profitability are eroded through cival suits and customer base reduction in the long-run, as the profitability is short-term lead the business towind up operations (Fieser).
The future of the business is determined by the current trends of business social responsibility- the obligation of a company to recognize the expectation of the society in its decision making. Lack of business ethic in a company will greatly affect the the trust of the stakeholders and customer satisfaction eroding the royalty of investors, and thus the profitability will reduce as the stakeholders separates themselves with activities of the business. Access to societal institutions which promotes productivity becomes limited leading the firm to lose its competitiveness (Fieser).
The employees of the company enhace grwth by their commitment and dedication to the company. If the company does not recognize the demands and expectation of the society, its profitability will be realized in the short-run, as the business targets are regardless of social responsibility. The trust and commitment of the stakeholders towards the business products and services will decrease rapidly in the long run which will create an uncondusive enviroment to do business forcing it to wind up its activities.
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