Producing new products or by providing an excellent service isn’t the unique reason to attract customers now. As Business ethics are taking a significant position on that. When dealing with suppliers or dealing with customers ethics are really important that one must follow to appear professional in his work.
Being ethical is an individual’s decision like being loyal and being honest together with your co-workers. It is said that loyalty is increased by connecting together with your workers, you need to make sure there is a communication with the staff in a clear manner. One must understand that not everyone receives information within the same way. (White, 2019)
Behind every successful company that exists in the market there is a very strong foundation of ethics. An advantage of having good communication skills and ethics helps the customers as they will recommend you with others and will end up bringing more customers with them which means that this will increase your sales and your profits.
Ethics include fairness and equality. In business and in real life there should be no discrimination and one must be equal to everyone. Discrimination can happen in race, gender or sexual orientation of the person, or either how the ones in authority look down to their subordinates. It is not ethical that one judge a person before he gets to know that person and as the expression says, “don’t judge a book by its cover”.
It is important that the owner have a good vision on operating the business. If this don’t happen the business will struggle. In order to motivate employees in the workplace, it would be preferably if they have some motivational theories such as bonuses when the staff reach a certain target, letting the workers know that you have trust in them and believe in everything they do because as these theories will motivate the employees and will help them to do a better job since they will go above of what you are expecting from them.
Companies have many duties; these include the duties to their shareholders, their duty to maximise profits and try to avoid as many losses as possible, and their responsibilities to those who are dependent on that company, such as their own employees.
Corporate social responsibility is important both for companies and for the consumers. Companies have increased their sales and their business to the point where they can donate back to the society. At end of the year, a company would be ethical if it donated some of the profits to renewable energy. (Chen, 2020) To conclude, ethics is certainly one among the foremost important requirements of humanity. Furthermore, without ethics, the planet would have been a disorderly place. Also, the advancement of humanity isn't possible without ethics.