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Chapter 1: Introduction

Business ethics encircles the implementation of ethical beliefs in business conduct. Ethics is imperative in business as it aids in determining the basis for ideal business behaviors. Business ethics encompasses basic standards of behavior that shape individuals' professional conduct (Byars, 2018). To attain profitability and establish welfare, the business ethics objective is to collaborate both ethics and economy (Gerde & Michaelson, 2016). The ethical principles set the basis of the professional code of conduct within a professional environment.

Chapter 2: Purpose of the Research

It is essential to develop the purpose of the research that can help gather the data required for the literature review. Business ethics aids are guiding the professional code of conduct. It gives the outline of the principles and structure that the members of the corporation need to oblige to. Leading businesses are stressing the imperativeness of business ethics as this directs the professional achievement of the employees in addition to the overall organizational success (Klopotan et al., 2020). The concept of corporate social responsibility (CSR) and business ethics goes hand in hand and plays a vital role in business development and promotes in retention of employees, attract more investors, and promotes the profitability of the business (Gheraia et al., 2019).

Chapter 3: Literature Review

The research conducted by Ferrell et al., (2019) reviews the relationship between the customer and brand and how ethics and social responsibility is related to it. The paper explores the imperativeness of business ethics and CSR in framing the brand's attitudes. Ethics and CSR are interconnected and relate to the principles that determine organizational decisions and corporate governance. The methodology adopted for the present study was the survey which was developed based on secondary research with a sample size of 351 target respondents. PLS-SEM was the adopted software for the data analysis followed by checking the validity of the hypothesis. The results of the study depict that a large section of the respondents believe that both ethical principles and CSR are imperative. The customers are more aligned towards ethical conduct about the brand attitude.

The study conducted by Grigoropoulos (2019), examines the imperativeness of ethics within an organization. The study also explores the effectiveness of organizational leadership in setting the basics of the maintenance of ethics in business. The author highlights that leaders are critical in laying the foundation for maintaining ethical practices in business. The article also lays light on the essentiality of setting ethical notions in the business world in the 21st Century. Several external and internal factors affect the practice of ethics within an organizational structure. The methodology adopted is secondary research. After analyzing the key findings from the various articles it is highlighted that ethics is a priority in today's contemporary business world.

The study presented by Martínez et al., (2021) focuses on the impregnation of ethics within an organization and how to promote the development of a culture in which ethics is an integral component of the business. The methodology adopted was secondary research in addition to the primary research in the form of semi-structured interviews with the sample population being from the individuals residing in Spain and the U.S. It was highlighted from the findings that ethical values form the core in management of the organizational culture and along with those leaders plays an essential role in impregnating ethical values within a business.

The research elaborated by Armoti et al., (2022), highlights the influence that business ethics has on the productivity of the employees and the overall performance of the organization. The paper explores the presence of an ethical framework within Emaar's real estate in Dubai. According to the authors, business ethics promotes the development of a fair working environment that attracts stakeholders. The primary research method was used for data collection. It was highlighted that due to the enhancement in profitability, businesses like Emaar real estate practice ethical behaviors.

Chapter4: Practical Application of the Literature

After analyzing the key findings from the research it is evident that business ethics is extremely imperative within any organization. It can be enumerated that business today are inclined towards implementing and working from ethical principles and values. After analyzing the data, it is apparent that leaders are crucial members of the hierarchy within any establishment impacting the culture of any organization and maintaining the functioning of the business ethically. Functioning of the organization on ethical principles causes profitability of the business and hence boosts the overall development.

Chapter 5: Conclusion

Business ethics cause an inclination in the overall performance and promote an attitude that promotes employee productivity. In today’s century, incorporating ethics in business is a core competency that attracts more investment and boosts the business. Ethics forms the underlying factors determining the economic growth of a business. Doing business with obliging to ethical principles is very prominent in current business scenarios.

References

Al Armoti, A., Abdullah, H., & Noor, A. S. (2022). Impact of business ethics on employee's productivity and organization growth: A case study at Emaar Properties Corporation, Dubai, UAE. Asian Management and Business Review2(2), 139-146. 10.20885/AMBR.vol2.iss2.art3

Byars, S. M., & Stanberry, K. (2018). Business ethics. OpenStax. https://commons.erau.edu/cgi/viewcontent.cgi?article=1006&context=oer-textbook

Ferrell, O. C., Harrison, D. E., Ferrell, L., & Hair, J. F. (2019). Business ethics, corporate social responsibility, and brand attitudes: An exploratory study. Journal of Business Research95, 491-501.https://doi.org/10.1016/j.jbusres.2018.07.039

Gerde, V. W., & Michaelson, C. (2019). Editoriral special Issue: Global perspectives on business ethics from the 40th anniversary conference of the Hoffman center for business ethics at Bentley university. Journal of Business Ethics155(4), 913-916. https://doi.org/10.1007/s10551-018-3905-3

Gheraia, Z., Saadaoui, S., & Abdelli, H. A. (2019). Business ethics and corporate social responsibility: bridging the concepts. Open Journal of Business and Management7(04), 2020. 10.4236/ojbm.2019.74139

Grigoropoulos, J. E. (2019). The Role of Ethics in 21st Century Organizations. International Journal of Progressive Education15(2), 167-175.10.29329/ijpe.2019.189.12

Klopotan, I., Aleksić, A., & Vinković, N. (2020). Do business ethics and ethical decision making still matter: Perspective of different generational cohorts. Business Systems Research: International Journal of the Society for Advancing Innovation and Research in Economy11(1), 31-43.10.2478/bsrj-2020-0003

Martínez, C., Skeet, A. G., & Sasia, P. M. (2021). Managing organizational ethics: How ethics becomes pervasive within organizations. Business Horizons64(1), 83-92. https://doi.org/10.1016/j.bushor.2020.09.008

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