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Why should ethical practices be observed by the business?

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Reasons for ethical practices in business include;

  • To ensure workers are paid fairly and on time.
  • To ensure that there is no discrimination of employees.
  • To create fairness in competition.
  • To ensure rights of employees are protected / upheld.
  • To avoid corruption / ensure responsible promotion.
  • To avoid consumer exploitation.
  • To ensure protection of the environment / hence no pollution.
  • To ensure compliance with country‘s laws and regulations.

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