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Firms should behave ethically if they wish to retain the trust of their customers and shareholders. Companies that behave ethically have a competitive advantage in terms of branding and reputation.
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C Should firms behave ethically?
Yes offcourse. Executives of most major firms believe that firms do try to maintain high ethical standards in all of their business dealings. Furthermore, most executives believe that there is a positive correlation between ethics and long-run profitability. Conflicts often arise between profits and ethics. Companies must deal with these conflicts on a regular basis, and a failure to handle the situation properly can lead to huge product liability suits and even to bankruptcy. There is no room for unethical behavior in the business world.
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