Business Ethics: A Catalyst for Rapid Economic Growth

Abstract

Over the past 4-5 years the global economic meltdown has affected downwardly most economic of the
world largely due to global unit cell of the business world. Businesses in most countries especially in
developing nations in their bid to survive and grow adopted some unethical practices to remain in the
market.This paper examined the concept of business ethics, development and its role in rapid economic
growth in organizations and economy in the face of modern challenges. Focused is on current practices
and prospective benefits of ethical business practices in a dynamic economy like Nigeria The paper
recommends complete commitment, upholding, adhering and practice of business within the code of ethics
by all stakeholders or parties for accelerated economic growth.