Ethics. Values. These things are extremely important to working professionals in any industry. In fact, 73% of professionals say they take an organization's values into account and would not apply to a company unless its values aligned with their own. Furthermore, 82% of workers say they would prefer to be paid less and work for a company with ethical business practices rather than receive higher pay at a company with questionable ethics. Business leaders need to work to ensure their organization is one with high morals, principles, conduct, and ethics so that employees feel comfortable and confident there. Employees who believe in your corporate principles and conduct and share your values are a huge asset to the organization. Employees and management alike can work together to create businesses that have high standards. Unethical businesses also lose favour with consumers. 43% of consumers have stopped buying from brands they find unethical and 71% say they carefully consider corporate values when making a purchase. Trust is vital for consumers to feel comfortable and confident with their purchases. Business ethics is its own set of morals and values that are vital in a workplace or corporation. Business ethics involves the industry, their business practices, how they deal with customers, profits, legal issues, and corporate conduct. Management needs to focus on business ethics as an important pillar of their corporation in order to make sure customers are happy with the appearance of their workplace. The workplace should focus on their ethics and values so they can attract the right employees and consumers alike. The more willing a workplace is to create a mission that demonstrates their ethical values, the more likely the organization is to thrive and succeed. rates their ethical values, the more likely the organization is to thrive and succeed. In fact, recent reports show businesses that have ethical workplace cultures outperform their competitors-but especially in stock price growth. Ethical scandals in business can deeply hurt the look of a corporation, which can make employees and consumers get a bad taste in their mouth about the morals of the company. How a company reacts to ethical scandals and dilemmas that happen on a small level will say a lot about their core practices and values. As a student of business, it's valuable to learn from business scandals to understand what to avoid or watch out for in business ethics of a company, as an employee and as a consumer. Utilize your time as a student to learn from examples that can give you a deeper understanding as you prepare for a business career. What are Ethical Dilemmas in Business? An ethical dilemma is a paradox that comes up when there are two or more options, but neither of them are the best ethical or moral option. False accounting, sexual harassment, data privacy, nepotism, discrimination-these are just some of the ethical dilemmas that happen in today's workplace. Many business owners and managers will deal with ethical issues at some point in their career. For this reason, it's crucial for every business-no matter the size-to create a code of ethics. Not only will it establish a foundation of trust between employees, customers, investors, etc., but it will help ensure your business is operating within the law. Promoting Ethics in Business Big scandals are just the tip of the iceberg when it comes to business ethics. There are small, daily decisions happening with executives, managers, and employees that all make up a company's ethical behaviour. There are issues that the public doesn't hear about that could be impacting culture and performance negatively inside an organization. As a business student, it's important to understand how to be ethical in a company now. Making decisions on your values and morals will help you be prepared to face ethical dilemmas in the future. There are many ways you can be ethical, including being honest with other employees and the public, whistle blowing on misconduct, paying employees what they deserve, not tolerating theft, being unwilling to participate in questionable accounting, respecting the environment, and refusing gifts from vendors in exchange for better treatment. Question 3 (15 Marks) There are many key factors that contribute to the success, or otherwise, of the implementation of an information security management policy in an organisation. Discuss these key success factors