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less than 1 per cent of the fiber produced worldwide. In this case, it means that there are other countries who are still members of the trade agreement who also produce cotton products. So it is not morally ethical for consumers at U.K to continue purchasing those products which are produced at their country while there are other countries who also produce high quality products. So in this case, we should consider the moral issue in this case whereby the other producers should also be allowed to trade their products in to other countries so that consumers can have diversified products to purchase from. (Robert, 2001, pp 23).

When producers are locked from exporting their products to other countries, you find that the prices for those products which are produced in that country will definitely go up. This is because there are no other producers to compete in the production of these products. So the consumers will definitely buy these products at a higher price. It is not ethical to exploit consumers from the increased prices. Prices should be standardized to ensure that consumers are not exposed to higher prices. So, in this case, despite the increased growth of cotton in U.K, it is unethical on the side of the consumers since these consumers will be forced to buy these products at a higher price. (Robert, 2001, pp 23).

Conclusion

Business ethics are important in ensuring that the business sector serves the consumer well. This ensures that the business makes profit which is ‘ethically justified’ and at same time the consumers are satisfied. All business should observe the code of ethics in their operation in order to look at the welfare of the society.

Reference
Joseph, D 2003, Introduction to Business Ethics, McGraw Hill, New York.Pp 21.
Norman, E and Hogue, W 2005, Management Ethics. Blackwell Publishing, Malden.
Jackson, K 2001, Globalizing Corporate ethics programs: Journal of Business ethics.
Kennedy, E Lawton, L 1996, The effects of social and moral integration on ethical standards: A comparison of American and Ukrainian Business Students, Journal of business Ethics.
Schlegelmilch, B 1995, The influence of country and industry on ethical perceptions of senior executives in the U.S.Pp 24
Duska, R 2003, Business ethics, Blackwell Publishers, Malden, MA, pp 11
Thomas, R 1993, can ethics be taught? Perspectives, challenges and approach, Harvard Business School, Boston, MA
John, D 2001, The next phase of business ethics: Integration psychology and ethics, Amsterdam, New York.
Robert, S 2002, Morality and market: Ethical and virtue in the conduct of business, McGraw-Hill, Boston.pp 12.
Robert, S 2001, Ethics in social marketing, Georgetown University Press, Washington, D.C. pp 23.

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