Business Ethics Basics by Robert Krznaric

1. Business Ethics Basics
by Robert Krznaric

2. Business organizations require shrewd leaders and
practices, but this does not mean that ethical considerations
do not come into play. In fact, thriving companies integrate
ethical practices into their daily operations in ways ranging
from ensuring fairness in business transactions to
supporting benevolent causes in the community. Though
there is certainly a moral element to business ethics, they
fundamentally protect the company and its employees,
ensuring good legal standing, positive reputation, and the
derivation of non-monetary value.

3. The concept of ethics as a value-contributing
element in a business organization originated at
a time when the maximization of profits was
viewed as a company’s sole purpose. In the last
several decades, an alternative approach
emerged suggesting that corporations have a
responsibility for the community. Today, it is
standard practice for business organizations to
make contributions to the communities out of
which they grew and which allow them to thrive.
Environmental and social initiatives are popular
ways for companies to make a positive impact.

4. About the author: Robert Krznaric is the
President and CEO of specialty medical device
researcher, developer, and manufacturer YOLO
Medical, Inc.