Do You Practice Business Ethics?

What is Business Ethics?

According to the Oxford Dictionary “ETHICS” has the following meaning: “moral principles that govern a person’s behaviour or the conducting of an activity.” Therefore Business Ethics is moral principles on how you as a Business Entrepreneur conduct business.

With the internet rising as a phenomenal business opportunity we all need to look at ourselves and decide where we stand morally in this world. This infographic shows clearly what modern etiquette is and you can choose to be scrupulous or unscrupulous, but honesty and moral principles will bring far more success than going for a quick buck in short term.

business ethics

Infographic about Modern Online Etiquette & Business Ethics

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One thought on “Do You Practice Business Ethics?

  • Ethics is concerned with “doing the right thing” in terms of morals, fairness, respect, caring, sharing, no false promises, no lying, cheating, stealing, or unreasonable demands on employees and others, etc. In addition, business ethics calls for corporate social responsibility (CSR) and addressing social problems such as poverty, crime, environmental protection, equal rights, public health and improving education. We need a practical approach rather than a philosophical one, with “leadership by example.”

    Business decisions often concern complicated situations which are neither totally ethical nor totally unethical. Therefore, it is often difficult to “do the right thing,” contrary to what many case studies will have you believe!

    Leaders have to deal with potential conflicts of interest, wrongful use of resources, mismanagement of contracts, false promises and exaggerated demands on resources, which include personnel. Is it the seller’s duty to disclose all material facts regarding the product/ service in question or is it the buyer’s responsibility to find out the pros and cons of what he or she is getting into? Should the seller answer each question exactly as it was asked, and ignore some pertinent information? Or should he or she merely address the spirit of the question? Is the buyer responsible for due diligence? This is a gray area.

    Ethics training can raise ethical IQs and monitor behavior, but it is difficult to alter the basic nature of individuals such as Bernie Madoff, Conrad Black and Vincent Lacroix.

    Maxwell Pinto, Business Consultant and Author.

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