How can implementing ethical standards help an organization to succeed?
By valuing ethics, an organization promotes and rewards honesty, fairness, and integrity in its workers. Those workers, in turn, are likely to treat customers, suppliers, contractors, and the general public in a way that develops their company's good name. Ethical standards helps to foster trust among colleagues and between supervisors and subordinates. With trust comes more open communication, which will likely increase morale, productivity, and efficiency. Workers will also feel freer to discuss difficult business and ethical issues, rather than act in an inadequately informed and perhaps ill-advised manner.