The implication of ethical consideration on business objectives.
Introduction
The organization or business is usually established to generate sufficient profits and meets the shareholder’s expectations while ensuring it socially responsible. The business is required to ensure that there exist strict internal controls tailored towards ensuring generation sufficient returns while ensuring investment into projects that have the potential of yielding positive net present values(Ackers, 2015). The attainment of these objectives requires the organization to abide by ethical principles and standards.
The implication of ethical consideration on business objectives.
Ethics requires the organization to conduct its operations in an ethical manner and refrain from any wrongdoings. Ethical issues that affect the attainment of organization objectives include; treatment of customers; the organization is required to offer quality production services to their target customers(Ackers, 2015). The nation should ensure that customers are not exploited since it can contribute towards the spread of negative word of mouth. This can adversely affect the profits that are generated by the organizations. Compliance with ethical practices and values results in the attraction of the right customers for the company, which results in the attainment of profit maximization goals. The organization should always be cautious about how it treats its customers. The organization’s treatment of its employees also affects the attainment of the organization’s objectives. Ethical practices require the organization to treat its employees well through ensuring that; they are well remunerated, provision of a conducive working environment for the employees, and adherence to health and safety standards(Gluesing, 2015). This contributes to the improvement of the employee’s performance and productivity within the company. The organization’s choice on how to treat its employees usually has a significant influence on organization performance and attainment.
Business ethical considerations are very imperatives since they assist the business attains its set objectives. The business hence must achieve shareholder wealth maximization and profit maximization objectives if they are operating in an ethical manner(Porée, 2016). The business, therefore, should emphasis ethical considerations like shareholder expectation, among others. This will contributes towards business prosperity as a going concern.
Conclusion
Ethical consideration hence has a significant influence on the attainment of the organization’s objective in the competitive environment. This enables the company to command a higher market share and gain a competitive edge over the competing firms in the marketplaces. The management of the organization should strive to serve the needs of various stakeholders in an ethical manner to aid in attaining the organization’s objective in the marketplace. This results to organization success and prosperity in the ever-changing.