There is a lot of published research on this effect. You could start with this article, I hope this help!
Brik, A. B., Rettab, B., & Mellahi, K. (2011). Market orientation, corporate social responsibility, and business performance. Journal of Business Ethics, 99(3), 307-324.
Ethics was defined in the (Longman) dictionary as the study of the nature of moral principles and judgments and their foundations, a set of values and principles, the principles of behavior or morals that govern an individual or group, the integrity of behavior, and judgments and their ethics. It is the values and ethical standards that society relies on upon order to distinguish between what is right and wrong. It is the values and standards upon which members of society rely to distinguish between what is good and what is bad, between what is right and what is wrong. Further, it is personal beliefs that the individual believes about what is related to normal or abnormal behaviors, and it is an indication of the individual’s motives and personal intentions in looking at what is right and what is wrong in the behavior.
Business ethics refers to the standards for morally right and wrong conduct in business. Law partially defines the conduct, but “legal” and “ethical” aren’t necessarily the same. Business ethics enhances the law by outlining acceptable behaviors beyond government control.
Corporations establish business ethics to promote integrity among their employees and gain trust from key stakeholders, such as investors and consumers.
Please check the below links, may be they are useful to you..
https://www.researchgate.net/publication/281036621_The_Importance_of_Business_Ethics_and_Corporate_Social_Responsibility_A_Course_Module
https://www.researchgate.net/publication/301575304_Managing_unethical_behavior_in_organizations_The_need_for_a_behavioral_business_ethics_approach
Ethics and values are increasingly important for two main reasons. Firstly, as organisations become less machine-like and more agile then the previous method of standardising behaviour (rules and job differentiation) weakens so organisational coherence is at risk of breaking down. Successful organisations build a deep consensus about 'who we are', 'what we have to do to be successful' and 'what is our gift to the world'. It is this that provides requisite organisational integrity.
Second, in the late 20th century, in many commercial organisations there was an ethic that can be summarised as ''everything we can do within the law to make more money is a good thing'. Today, business missions are more complex. People, planet as well as profit are important, but there can be internal conflicts, hence the need for coherence in values to guide decision-making.
Thank you all for the timely response on this question. Radoslaw Nowak provides relevant references to the question. David Louis Francis reply provides insight to this critical question on organizational integrity. Indeed organizational image as stressed by Randa Bedawy is critical for organizational survival and performance. Hajar Alhosseiny , stresses that businesses establish ethics to promote integrity and gain trust from key stakeholders which also appears critical. Zana majed Sadq emphasized the importance of ethical principles. This explains why today organizations that succeed have strong organization cultures with ethos that reflect universal ethical principles. Probably this could explain why some organizations control unethical behavior. One of the pitfall could be to over emphasize laws and ignoring ethical codes of conduct in the process of regulating unlawful conduct which is related to Hajar Alhosseiny responses on “legal” and “ethical” which are not the same. I really find the resources provided very important on my project on business ethics. Looking forward to learning from you. Ronald
Business ethics is a specialized area in which in which an awareness of ethical issues and a systematic approach to solving them are particularly important. It has to do with establishment and maintenance of vital and significant relationships among human beings specifically, in this case,among employers, employee s, shareholders, consumers and businesses. Ethical principles like valuing life, the starving for goodness and avoiding of badness, the just and fair distribution of goods and services, honesty and telling truth, and individual freedom are applied to business ethics. As to how to control bad behavior, many factors again are needed to be considered, it can be through self-restraint, through the existing ethical standards by society, organizations and course by existing dogmas.
I think, approaching a business from the Kantian "categorical imperative" perspective is the best praxis. This conclusion is premised on the fact that when a validity and/or claim of a business ethics or what grounds a norm in a business does not depend on any desire or end of the individuals in the business but from a rule of conduct or rationality that is unconditional or "absolute" such business ethics/norm/culture becomes a canon for all agents in the business.
Ethics is the identity card of your business. Others will know your goodwill, credibility, status, practices and values by your ethical conduct in business. Ethics is what good or ethical practices you adhere to. It tells others how far your every dealing depicts transparency, honesty, integrity, consistency, and sustainability. Unlike morality or values, principles of ethics is universal and eternal. It doesn't change from time to time or place to place or person to person.
Ethics can help to improve ethical decision-making by providing managers with the knowledge and tools that allow them to properly identify ,diagnose ,analyze and provide solutions to the ethical problems and dilemmas they face .
Look at my Threefold Management in project, it needs integral attitude, within axiology solutions and it is ethics....
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