THE IMPACT OF ETHICAL CONSIDERATIONS ON THE BUSINESS ENVIRONMENT
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- NGN 3000
ABSTRACT: THE IMPACT OF ETHICAL CONSIDERATIONS ON THE BUSINESS ENVIRONMENT
This study aims to: 1) evaluate the role of ethical considerations in business decision-making; 2) assess the influence of corporate ethics on stakeholder trust; and 3) analyze the strategies businesses use to promote ethical behavior. A survey research design is chosen to gather insights into ethical practices and perceptions. Using Taro Yamane’s formula, a sample size of 330 respondents, including ethics officers and business leaders, is determined. Abuja, known for its regulatory focus, is selected as the location. The survey achieves a reliability coefficient score of 0.87. Findings indicate that ethical considerations significantly impact business reputation, stakeholder relationships, and long-term sustainability. Businesses that prioritize ethical behavior gain competitive advantages and build trust with stakeholders. The study recommends that companies integrate ethical considerations into corporate governance frameworks, conduct ethics training programs, and establish transparency in business practices to enhance ethical standards and foster a positive business environment.
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