ArtsAutosBooksBusinessEducationEntertainmentFamilyFashionFoodGamesGenderHealthHolidaysHomeHubPagesPersonal FinancePetsPoliticsReligionSportsTechnologyTravel

Ethics in Business

Updated on April 13, 2019
Fawadaslam95 profile image

Just Another Human Being Drifting Through Space and Time. Living Life, Sometimes, Even Experiencing It.

Since the very inception of civilization, mankind has found itself indulged in the intricacies of business. Humans started making business deals long before the introduction of currency systems. In one form or the other, businesses were a way to sustain sharing or transfer of goods among people. The barter system was the initial, rudimentary and fairly raw business model that the human beings used. This system was the inception of the very concept of business. In this system, one family who had an excess of product “A” used to exchange that product to attain a product “B” from another family. In this way, both families managed to attain the goods that were essential to their survival and the human kind managed to survive as a group. This system was used to exchange cotton for wheat, pottery for rice bricks and spices. Thus, in a nutshell, this system was a way to attain a product that a family lacked and needed for their survival. And this required product was acquired at the expense of a product that they already had in plenty. This system was particularly useful in the early days of human civilization when there were no established markets. At that time, each household barely managed to cultivate one crop in a season, and all their efforts were used to sustain and cultivate that crop. Even if a family managed to produce a particularly good harvest of corn, come winter, they can’t survive without warm clothing, so they had to exchange some of their corn for the much-needed cotton. So, business, even in its crudest form, managed to sustain life on this planet, even in the most desperate of the times.

We, human beings are social beings. Our survival is linked with existing in the groups in the form of society. And as specified in the previous section, sharing is the only way a society can continue to survive and thrive. However, in order for sharing to be mutually beneficial, there has to some sort of exchange of goods or services. As the human civilizations grew in their numbers and in their collective wisdom, they developed a more sophisticated method for this exchange to take place. Now, they started to use a currency – in the form of coinage. Every unit of this currency used to carry the same worth all across a particular society. With this innovation, the exchange of goods and service became infinitely easier. This saw the inception of the communal markets. As human civilization began to progress, the populations started to concentrate in cities. In this way, the businesses became more and more integral to the survival of human societies and civilizations.

Fast forwarding to the modern day and age, ever since the industrial revolution, the populations have become infinitely more concentrated in the cities and thus, the economies have become infinitely more complex. The barren countries which have oil within their borders are way richer than the countries with vast, fertile plains. Same is the case with industry centered cities. The big cities have to sustain populations of millions of people. The business and trade have now become essential and deep-rooted within the fabric of human civilization. The pretense of business has now expanded beyond everyday essentials. Business and trade deals are now responsible for ensuring our access to food, domestic supplies as well as the necessities and luxuries of modern-day life. In this way, the businesses too, have become complex. Initially, the businesses were nothing more than having a stall in the city center to sell everyday essentials. Those were, indeed, the simpler times. As they say, necessity is the biggest motivation behind any invention. With time, the towns kept growing bigger and bigger until they became behemoth cities with millions of people. The businesses had to take the brunt of all this. The businesses had to adjust to this large-scale transformation in the human way of living, the businesses had to become more and more efficient, they had to forecast needs of consumers so that they have to meet them later and the list of these complexities goes on. Even the simplest of business setups have now become large scale companies, corporations, and suppliers. The merchants of the old day have now become businessmen, and now they have to cater to the terms like warehousing and supply chain management.

One might say that twenty-first-century businesses have changed. But, actually, phrasing it like that will be a fairly incorrect assessment. Businesses haven’t changed. They have just transformed. The stakes are the same. Just like they were at the very beginning of human civilization. What would have happened if all the wheat merchants had failed to appear in the city center for three consecutive months? The answer is that people would have had faced adverse effects. Same is the case with modern day businesses. What would happen if your distilled water supplier doesn’t come for three days? What would happen if the wheat importer of a country messes up the calculations or the shipping operations? Much like everything else around us, modern day businesses haven’t changed in their essence, however, the stakes have been raised to a whole new level and there is almost no margin of error in modern day and age. Consequences of failure of any type are now much more pronounced. If anyone needs proof of this argument, one can refer to the dynamics of the 2008 global financial crisis. The negligent lending of Bear Sterns and Lehman Brothers took the entire global financial system to the very brink of the collapse. How a bubble in American Housing Market led millions of Chinese businessmen to go bankrupt. The well-being of financial institutions of a country, as well as the entire global financial system, is now closely intertwined. So, in modern day business, there is a strong need to fulfill ethical responsibilities, to have a moral compass, and to exhibit responsible behavior. Because the stakes are indeed very high.

© 2019 Fawad ul Hassan

Comments

    0 of 8192 characters used
    Post Comment

    No comments yet.

    working

    This website uses cookies

    As a user in the EEA, your approval is needed on a few things. To provide a better website experience, hubpages.com uses cookies (and other similar technologies) and may collect, process, and share personal data. Please choose which areas of our service you consent to our doing so.

    For more information on managing or withdrawing consents and how we handle data, visit our Privacy Policy at: https://maven.io/company/pages/privacy

    Show Details
    Necessary
    HubPages Device IDThis is used to identify particular browsers or devices when the access the service, and is used for security reasons.
    LoginThis is necessary to sign in to the HubPages Service.
    Google RecaptchaThis is used to prevent bots and spam. (Privacy Policy)
    AkismetThis is used to detect comment spam. (Privacy Policy)
    HubPages Google AnalyticsThis is used to provide data on traffic to our website, all personally identifyable data is anonymized. (Privacy Policy)
    HubPages Traffic PixelThis is used to collect data on traffic to articles and other pages on our site. Unless you are signed in to a HubPages account, all personally identifiable information is anonymized.
    Amazon Web ServicesThis is a cloud services platform that we used to host our service. (Privacy Policy)
    CloudflareThis is a cloud CDN service that we use to efficiently deliver files required for our service to operate such as javascript, cascading style sheets, images, and videos. (Privacy Policy)
    Google Hosted LibrariesJavascript software libraries such as jQuery are loaded at endpoints on the googleapis.com or gstatic.com domains, for performance and efficiency reasons. (Privacy Policy)
    Features
    Google Custom SearchThis is feature allows you to search the site. (Privacy Policy)
    Google MapsSome articles have Google Maps embedded in them. (Privacy Policy)
    Google ChartsThis is used to display charts and graphs on articles and the author center. (Privacy Policy)
    Google AdSense Host APIThis service allows you to sign up for or associate a Google AdSense account with HubPages, so that you can earn money from ads on your articles. No data is shared unless you engage with this feature. (Privacy Policy)
    Google YouTubeSome articles have YouTube videos embedded in them. (Privacy Policy)
    VimeoSome articles have Vimeo videos embedded in them. (Privacy Policy)
    PaypalThis is used for a registered author who enrolls in the HubPages Earnings program and requests to be paid via PayPal. No data is shared with Paypal unless you engage with this feature. (Privacy Policy)
    Facebook LoginYou can use this to streamline signing up for, or signing in to your Hubpages account. No data is shared with Facebook unless you engage with this feature. (Privacy Policy)
    MavenThis supports the Maven widget and search functionality. (Privacy Policy)
    Marketing
    Google AdSenseThis is an ad network. (Privacy Policy)
    Google DoubleClickGoogle provides ad serving technology and runs an ad network. (Privacy Policy)
    Index ExchangeThis is an ad network. (Privacy Policy)
    SovrnThis is an ad network. (Privacy Policy)
    Facebook AdsThis is an ad network. (Privacy Policy)
    Amazon Unified Ad MarketplaceThis is an ad network. (Privacy Policy)
    AppNexusThis is an ad network. (Privacy Policy)
    OpenxThis is an ad network. (Privacy Policy)
    Rubicon ProjectThis is an ad network. (Privacy Policy)
    TripleLiftThis is an ad network. (Privacy Policy)
    Say MediaWe partner with Say Media to deliver ad campaigns on our sites. (Privacy Policy)
    Remarketing PixelsWe may use remarketing pixels from advertising networks such as Google AdWords, Bing Ads, and Facebook in order to advertise the HubPages Service to people that have visited our sites.
    Conversion Tracking PixelsWe may use conversion tracking pixels from advertising networks such as Google AdWords, Bing Ads, and Facebook in order to identify when an advertisement has successfully resulted in the desired action, such as signing up for the HubPages Service or publishing an article on the HubPages Service.
    Statistics
    Author Google AnalyticsThis is used to provide traffic data and reports to the authors of articles on the HubPages Service. (Privacy Policy)
    ComscoreComScore is a media measurement and analytics company providing marketing data and analytics to enterprises, media and advertising agencies, and publishers. Non-consent will result in ComScore only processing obfuscated personal data. (Privacy Policy)
    Amazon Tracking PixelSome articles display amazon products as part of the Amazon Affiliate program, this pixel provides traffic statistics for those products (Privacy Policy)
    ClickscoThis is a data management platform studying reader behavior (Privacy Policy)