Anscombe (1958) has observed that ethics is crucial in everyday life because it provides the basis for the answers to the important question, "In this situation what do I do?" At the basic level, the answer to the question is about what choices man makes of right and wrong in all life endeavours. The Golden Rule, the Ten Commandments and Poor Richard's Almanac provide simple concepts about right and wrong that lubricate society by reducing friction.
Human life would be chaotic without ethics. It is our means of deciding a course of action. Without it securing the society would be impossible: often ethics succeeds law in safeguarding the society. The law machinery is often found a wanting spectator, unable to save the society and the environment. Lawyers and public interest litigators may not help a great deal but ethics can.
Being fair, honest and ethical is one of the basic human needs and it is ethics that sets a standard to the satisfaction such needs. Ethics is important for its role in uniting people and leadership and how people treat each other. Organizations, including this University, are driven by values respected by its students. They are the common thread that brings the students and the lecturers on a common platform. This helps in aligning behaviours within the organization towards achievement of one common goal or mission.
It makes man Improve in decision making: a man’s destiny is the aggregate of all the decisions that he/she takes in course of his life. The same holds true for organizations. Decisions are driven by values. For example an athlete who does not value fair competition will be quick to cheat through taking prohibited drugs during competitions.
Finally, on the bigger scale, organizations guided by ethics and values are profitable in the long run, though in the short run they may seem to lose money. Governments with greater sense of ethical behaviours are likely to stay in power longer.