Why ethics in business so important? Not enough to comply with the letter of the law and the rules of society? What's in it for the business enterprise?
These are all interesting questions. Many business owners feel that maximizing profits is the company's commitment to the president. The other owners feel that running the business in a manner transparent and ethical is also important. Both business management and business ethics are about making the right decisions. Do you have one in existence to the exclusion of the other?
do not think so, and here are the reasons business ethically important:
(1). It sends the right message to customers and customers. With all the choices available at the present time, who wants to do business with shady, Inc. ethically challenged?
(2). And it sets the right example for the staff of company. The temptation to cut corners or behave illegally, immorally or unethically be reduced if an employee familiar with the company's code of ethical behavior and the certainty of its application.
(3). It can make it a desirable place Company to work. Recruit, and then save the high-quality staff is less expensive than the rotary management where people come and go in large quantities.
(4). Under the prism through which the views and trading company not only normal, but dealing with the events of crisis or unusual. When it was considering all options, wondering: "What is the right thing to do?" Eventually becomes a basis for action.
(5). It provides a focus for clearer company. It was found that a clear focus not only in tactical operations day after day, but in the strategic planning of the company, too.
(6). It helps to protect the interests of company. Ethical behavior does not always isolate the company from lawsuits, bad publicity, or other negative and costly circumstances, but it certainly can reduce the likelihood or mitigate the damage.
(7). It helps to protect the interests of everyone comes into contact with the company. And suppliers will become more reliable if they know they will get paid on time? Regulatory agencies will be more helpful and accommodating? Customers will have more confidence? Clearly, there is a greater likelihood of becoming a previous answers "yes" with a company that is perceived as a moral high, of which one is not.
(8). It enhances mutual respect and integrity. This could happen within the company and those who deal with the company.
9. It enhances accountability. This can happen not only among the staff, but with senior executives and owners, as well.
(10). It can result in reputation in market that can be helpful and strengthened. This is not a desirable condition for any company? If you do not, it certainly should be.
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