There is more to business than making money. Modern day businesses need to consider a variety of social and ethical concerns that effect company success on a daily basis. Whether it regards employees, customers, employers or general responsibilities of the company as a whole, businesses must function ethically in society.

Society and business affect each other in many ways. First of all, businesses are a part of society; they have a heavy impact on financial distribution, class formation and other key social aspects. Businesses have moral obligations to their society that will help support both community and company prosperity. Plus, businesses can’t hope to survive if their surrounding society finds them unethical; individuals will cease doing business with companies that have a reputation of being underhanded or unfair. Instead, these businesses can establish and uphold social contracts, contribute to community growth and promote ethical behaviors. This way, businesses can have an immediate impact on their surroundings in a positive way and ensure customer loyalty.

Often enough, the types of behaviors and attitudes advertised by profitable companies will inspire the same types of behaviors in consumers. Companies must be wary of issues like sexual harassment, privacy infringement, and environmental protection in order to maintain a healthy relationship with their society. In fact, in many ways, the basic morals of a society are led by the morals of businesses that inhabit that society. Since businesses are the backbone of any economy, and people depend upon the dynamics of an economy for success, many morals can be gleaned from those that guide successful businesses – people, after, strive to emulate those that achieve.

Business ethics also affect nearly every aspect of a company. Businesses must focus on turning a profit, but they must also ensure they are employing ethical conduct as directed by their society. How companies treat their employees, for example, is a key sign of whether or not a company has excellent ethical codes. Laborers should be treated with respect, delivered full payments, function in safe, hazard-free work environments and offered accommodations if needed. Marketing strategies and advertisements should be void of actions, attitudes or phrases that are ethically unacceptable in society. The same goes for the business’ actions in general. In a simple sense, following governmental regulations and laws helps guide many businesses to maintain ethically correct behaviors. Honesty, acceptance, fairness and other respectful, ethical behaviors also remain key aspects to successful businesses. In order to formulate a profitable enterprise, it is fundamental for a business to understand its affect and place in society while upholding ethical behaviors.