What are the consequences of ethical decisions in business?

What are the consequences of ethical decisions in business?

Ethical decisions in business can lead to trust, loyalty, and long-term success, but unethical choices can damage reputation.

Can you give me an example of a business facing ethical dilemmas?

Sure! Consider a company that discovers its product is harmful. They must decide whether to recall it, risking profits, or keep selling it.

What are the potential long-term effects of unethical decisions?

Unethical decisions can lead to legal issues, loss of customer trust, and ultimately, financial decline for the business.

How can businesses ensure they make ethical decisions?

Businesses can implement ethical training, establish clear guidelines, and promote a culture of transparency and accountability.

What role does corporate social responsibility play in ethical decision-making?

Corporate social responsibility encourages businesses to consider their impact on society, guiding them towards more ethical choices.