These days more and more companies are trapped in ethical scandals. Their most important goal is making a lot of money, they hardly care about their stakeholders.
However, according to several specialists, being ethical and corporate governance are the first steps to success.
There are a lot of reasons for operating in an ethical way and becoming successfull: it positively influences the company 's reputation which attracts consumers who will buy more, shareholder value increases and capital will be protected, companies also create a competitive advantage and there will be less internal corruption. Due to all these things, the costs of the company will decrease, which will result in more profit.
Besides, unethical behaviour can be risky: if a company loses its reputation, it can be permanent and maybe the company will have to close its doors.
Why are there still so many scandals regarding unethical behaviour, if you see the downside of it?
Silke Delahaye
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