Managing business ethics, an essential component of business success: A case study of Twifo Hemang Lower Denkyira teachers’ co-operative credit union

Abstract

The need to do business ethically connot be understated. Besides, managing ethics in business is an uphill task. It for this reasonthat this study was conducted to confirm how ethics is managed in the operations of the Twifo Hemang Lower Denkyira Teachers’ Cooperative Credit Union. Participants of the study comprised 14 staff of the Cooperative and 350 members. Staffs of the union were selected purposefully and contributors were selected through the simple random sampling method. An interview guide was the instrument used for data collection. The research design was a descriptive survey, hence, analysis of data was done using descriptive statistics.The results of the study indicated sound business ethics amounts to doing the right thing in one’s business operations. It was seen that the staff and members of the Cooperative had conducted themselves honestly, fairly, openly and with integrity. In spite of the fact that staff had to a greater extent done business ethically, there were a few rough edges. It was therefore suggested that everything should be done to ensure that the code of ethics of Cooperative should be adhered to so that erring staff and members can be dealt with expeditiously to serve as deterrent to others. Above all, the business of the Cooperative must be conducted in accordance with best practices in credit union operations across the world.