Topic

The Legal and Cost Implications for Unethical Business Conduct – A Business Environment Analysis

Instructions

Write an essay paper focusing on the legal and cost implications for unethical business conduct

Answer Preview

Businesses are expected to operate within certain ethical and legal limits as defined in law and within the moral and cultural practices in a society. Today, more than ever before, companies are increasingly expected to act ethically and within the law. This way, as the firms pursue profits, they do so within the acceptable ethical and legal scopes. As consumers become increasingly informed and conscious of pertinent issues such as social justice, environmental wellbeing, and sustainability, pressure has increased on business operations to embrace social responsibility and ethical conduct. Unethical conduct can dent business image, trigger legal suits, and occasion decline in overall sales for a firm as it highlights the lack of social responsibility and social justice (Baird & Calvard, 2018). Ethical conduct has become paramount for business success to the extent it is an integral element of business branding, with adverse legal and cost implications for organizations that violate ethical and legal expectations under the ethics versus law framework.

Word Count: 1300