Organizational Ethics Term Paper Example | Topics and Well Written Essays - 1500 words

Organizational Ethics - Term Paper Example One example of the US legislation of FCPA Act (Foreign Trade Practice Act) restricts the US business to perform any illegal act of bribery or such illegal processes both in domestic and international markets. Nevertheless, the organizations that fail to impose few business ethics and practices fail to have a good perception in the market irrespective of the legal positions. The essay would view the Organizational Ethics from a business perspective and assess the role of stakeholders in developing and maintaining them. Organizations focus upon building a set of ethical practices in respect to its employees and community that it operates in. Velasquez (1982) suggested that it has been observed in the market that the organizations those follow ethical practices achieves higher sales and increases the market stability by retaining the talents and attracting new skilled competent employees. The human capital result in building an atmosphere within the business that practices the culture of ethics in its processes. Soe.syr.edu (2014) observed the basic elements of ethical practices and creates a culture by introducing the following: Respect: The mutual respect of the business stakeholders with the business and its surroundings is the key to this phase. Therefore an ethical business builds upon the suppliers and stakeholder’s association with other ethical people and organization to keep its image in public clean. Honor: Castro (1994) suggested that the people are the fundamental part of good ethical practice and are ambassadors of the business to its external environment to exemplify the organizational ethical backgrounds. The mutual honor between business and its stakeholders is a strong bed for ethical conduct development. Integrity: The integrity is the virtue of performance as promised. Therefore, the mutual level of trust between Organization and the employees needs to be high so that both of them practices the ethical norms, eventually