10 reasons why you should manage your business ethically

2019-04-09 Business No comment

Why is business ethics so important? Is it sufficient to comply with legal and social rules? What impact does it have on the business?

These are all interesting questions. Many business owners believe that maximizing profits is the company's primary obligation. Other owners believe that it is also important to run a business in a transparent and ethical manner. Business management and business ethics are all about making the right decisions. Do you have to exist and exclude another?

I don't think so, that's why ethics management business is important:

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It sends the right message to customers and customers. from

 Now that I have all the choices, who wants to do business with a dark, ethical company?

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It sets the right example for the company's employees. from

 If employees are familiar with the company's ethical code of conduct and the certainty of its execution, the temptation to reduce cuts or illegal, unethical or unethical behavior will diminish.

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It can make the company an ideal place to work. from

 The cost of recruiting and retaining highly qualified employees is much lower than the turnover of a large number of managers.

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It builds a prism through which the company can not only see normal business transactions, but also the handling of special events or crises. from

 After considering all the options, ask "What is the right thing?" and eventually become the basis of the action.

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It provides a clearer focus for the company. from

 The clear focus is not only reflected in the daily operations of the tactics, but also in the company's strategic planning.

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It helps protect the company's interests. from

 Ethical behavior does not always save the company from litigation, bad publicity or other negative and expensive conditions, but it can certainly reduce the probability or mitigate the damage.

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It helps protect the interests of everyone who comes into contact with the company. from

 Will suppliers become more reliable if they know they will get paid on time? Will the regulator be more helpful and inclusive? Will customers trust more? For a company that is considered highly ethical, the likelihood that the above answer becomes “yes” is significantly higher, not a company.

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It promotes mutual respect and integrity. from

 This can happen to people inside the company and to the company.

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It promotes accountability. from

 This can happen not only in the workforce, but also between senior management and the owner.

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It can generate a reputation that can be beneficial and sustained in the marketplace. from

 Isn't this the ideal condition for any company? If not, then of course it should be.

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