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Business Ethics in Action: Seeking Excellence in Organizations

Updated on May 10, 2020

BUSINESS ETHICS IN ACTION: SEEKING EXCELLENCE IN ORGANIZATIONS

Jordan Belfort once said “There’s no way to succeed in business without the highest ethical standards.”


Yes, a business man or an employee should always act ethically to differentiate the right and wrong decisions during various situations. It takes years to build reputation of business and just few minutes to ruin it. So its not hard to make decisions one’s you know what’s your values are. The strategies used for moral conduct differs for various organizations. Organizational values are pointers used to guarantee that an organization is in good conduct. The establishment of ethical qualities is profoundly grounded inside the interior culture of the organization. Organizational values can emphatically or adversely sway efficiency, confidence, productivity, morale, and so on..

Each organization ought to have its own ethical standards and rules. If a business follows the path of ethics, it has a greater advantage than we can envision. It will even aid a company to attract employees, customers and investors. Reputation is one of the most significant assets that an organization can possess. It is extremely difficult to assemble a decent reputation and it may take years and years of hard work. And once we loose in the battle of business it is difficult to recover the underlying reputation. A firm should develop a decent reputation with reliable ethical conduct. Potential investors and shareholders are likely to be pulled in to the organizations with ethical rules and regulations. This will help to keep the company’s share prices high in the market even during the time of vicious competition.

Every company will have open and unspoken rules about how the employees should act. This comprise of the behavior of the personnel towards other employees, customers, and to the public. These guidelines can differ for different organizations. It is the obligation of the human resource department to ensure that workers are ethical within the organization. Strengthening the conduct of the work force is a simple assignment. Proffering of grants and acknowledgment is perhaps the best strategy to urge the workers to have a moral conduct. To make a solid moral culture in an organization there ought to be a consistent communication about the ethical behavior among the human Assets in the organization. It is the obligation of the organization to construct and create ethical skills among the members rather than simply asserting the ideal practices.

Business ethics assists with halting the acts of neglect and to shield society from malicious impacts. It fabricates a solid business condition for everybody. Business ethics are basic to improve the client's certainty about the quality, utility, dependability, amount, cost, and so on. The customers have more trust and confidence with those who comply moral business rules or standards. They feel confident that such businessmen will not cheat them. Ethics ties businessmen to keep up trust by offering quality products and services to customers. Business ethics are mandatory for the endurance of any business. The businessmen who do not tail it will only have transitory achievement, but they are sure to fail in the long run. In the wake of understanding that he is being cheated, the customer will be hesitant to purchase products or services from that businessman. He will also report to others that it is not safe to buy from that businessman. This will bring about the breakdown of the business. Business ethics are required to secure the enthusiasm of employees, investors, contenders, vendors, providers, clients, government, and so on
In the current situation, competition is a part of our lives and business world is no exception to this. Competition is indispensable because it inculcates creativity and innovation, competitive pricing, affordable services, corporate responsibility, customer satisfaction, and so forth in the business. The opposition must be solid but it ought not to be forceful, wild or vicious. Albert Schweitzer has quoted that “The first step in the evolution of ethics is a sense of solidarity with other human beings”. So a business must regard its rivals as individual creatures and not as adversary adversaries. A business should never utilize unscrupulous methods like provocative commercials to devastate the reputation of its rivals.

Today, customers are very much aware of their privileges. Presently, they are progressively joined together and composed, and consequently they can't be cheated by the business undertakings. They take activities against those business people who are enjoying awful strategic approaches. They are prepared to blacklist low quality, untrustworthy, destructive, extravagant, and copy products. They even document claims against unsatisfactory organizations and request huge remunerations and legitimate activity. Albert Camus has once cited that “A man without ethics is a wild beast loosened upon his world”. Accordingly without following moral guidelines regardless of how little or large a business might be, it just can't withstand its business.
REMEMBER: GOOD ETHICS IS GOOD BUSINESS

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