Ethics training programs refer to the programs which are designed by a firm to promote ethical behavior. An ethics training program provides employees with instructions on how to deal with ethical dilemmas when they occur and improve their overall ethical conduct.
“Ethics training programs are designed to help everyone understand where the line is drawn between acceptable and unacceptable workplace behavior.”
Nowadays consumers have become more aware of ethical business practices than before. Because they can easily access information about businesses and the way they perform business. Consumers are immensely conscious of this information and they decide to invest their money accordingly. Because of this easy access to information, individuals have become very conscious of ethical businesses and their impact. Staying away from unethical business practices not only helps to develop a good reputation but also keeps the business safe from lawsuits or litigation.
Unethical business practices and money scandals can result in a huge loss in profit leading to a decrease in employee motivation and ultimately bankruptcy. Fulfilling and maintaining productivity and quality can develop a suitable reputation and keep a healthy code of ethics for the business. For all these reasons ethics training programs are essential for a successful business.
More from this Section
- Articles of partnership
Articles of partnership is a contractual agreement that establishes the legal relationship ...
- External growth strategies
External growth strategies are referred as growth strategies that rely on establishing ...
- Venture Capital Firms
Venture Capital Firms are limited partnerships of money managers who raise money in “funds” ...
- Summary Plan
A summary business plan is 10 to 50 pages long and works best for companies that are very ...
- Mature Industry
A mature industry is an industry that is experiencing slow or no increase in demand, has ...