Lakhasly

Why Are Business Ethics Important?Moral disengagement can also lead to questionable decisions, such as insider trading."It can upset the balance judgment-causing us to prioritize our personal commitments over shared beliefs, rules, and prin -or it can skew our logic to make unethical behaviors appear less harmful or not wrong."As a business leader, strive to make ethical decisions and fulfill responsibilities to stakeholders

Why Are Business Ethics Important?

Failure to understand and apply business ethics can result in moral disengagement

"Moral disengagement refers to ways in which we convince ourselves that what we're doing is no wrong," Hsieh says in Leadership, Ethics, and Corporate Accountability. "It can upset the balance judgment-causing us to prioritize our personal commitments over shared beliefs, rules, and prin -or it can skew our logic to make unethical behaviors appear less harmful or not wrong."

Moral disengagement can also lead to questionable decisions, such as insider trading.

"In the U.S., insider trading is defined in common, federal, and state laws regulating the opportuni for insiders to benefit from material, non-public information, or MNPI," Hsieh explains.

This type of unethical behavior can carry severe legal consequences and negatively impact your company's bottom line.

"If you create a certain amount of harm to a society, your customers, or employees over a period time, that's going to have a negative impact on your economic value," Gandhi says in the course.

This is reflected in over half of the top 10 largest bankruptcies between 1980 and 2013 (pdf) that resulted from unethical behavior. As a business leader, strive to make ethical decisions and fulfill responsibilities to stakeholders