Final answer:
In the wake of financial scandals, managers recognize that ethical behavior is consistent with a corporation's primary goal. Ethical business practices align with profitability and reputation, and codes of ethics help guide organizations to operate lawfully and morally.
Step-by-step explanation:
As a result of financial scandals during the past decade, there has been a strong push to improve business ethics. Managers have an obligation to behave ethically, and they must adhere to the laws and society-imposed constraints. Most managers recognize that being ethical is consistent with the corporation's primary goal. In the context of business activities, following ethical practices aligns with the goal of maintaining a profitable and reputable organization, as unethical behavior can lead to legal consequences, loss of reputation, and ultimately a decrease in profitability.
Corporations and professional organizations often develop codes of ethics to guide the conduct of their members. These codes address specific issues such as bribery, discrimination, and environmental impact while also ensuring compliance with laws and regulations. Moreover, in fields like software engineering, organizations such as the IEEE-CS provide guidelines on ethical obligations to affirm that technologies and software developed do not harm society or the environment. Therefore, ethics are deeply integrated into modern business practices, and being ethical is actually vital to a corporation's success and sustainability.