After the global recession of 2008, business owners- and large corporations, in particular- have taken a hit in the public eye. People these days do not trust businessmen, they are more seen as the enemy now. It seems like business ethics, in the traditional sense, have been completely thrown out the window. So, it seems that either business ethics are no longer followed the way they were back in the day (if, they ever were followed before) or that with the world becoming more and more profit-driven and competitive, business ethics just have to take a back seat. It is hard to say why business ethics do not seem to be held in the same high regard as they were before, but maybe they just need to change to accommodate a more hostile business and corporate conglomerate environment. The larger a company gets, the harder it is to hold the company accountable to standards and business ethics.
Ethics is essentially one of the oldest disciplines in the world, as it began with the Ancient Greeks and the ideas of morality and philosophy. It was first taught by Aristotle. The very beginning idea of ethics, was to determine what is good to do and what is not good to do. It is that simple, but it is also a very complicated area because there is a lot of gray area between what is right and what is wrong. It is about human relationships, and the amount of honesty and integrity that should coincide between those relationships. Business ethics were specifically for entrepreneurs when they were created, as in the way a business owner should act with his customers. A business owner offers a service to customers, so the ethical behavior of the business owner should always be respectful and indebted to the customer first and foremost.
Business ethics refresher
The acts of business ethics are in regards to the relationship between the business and the customer and clients. There are ethical standards when it comes to negotiation, business ethics when it comes to providing a quality product, ethics in recordkeeping and being honest, and ethical standards when it comes to competition and dealing with them in a respectful way. It is easy for a business to forget about how important ethics are, because ethics are what a business’ entire reputation is staked on, and if a business does not have a good reputation, then they will not have a very successful business and they won’t last very long.
One of the largest problems when it comes to business ethics is the area of social responsibility. Time and time again, the business world has not lived up to their social responsibility. They have destroyed the land, and polluted the land, without any seeming remorse, and only care about turning a profit. Perhaps this area of business ethics will improve in the future.
James is a freelance writer and content contributor for sites that write about real estate investing business ideas and tips.