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What is business ethics

Updated on May 16, 2013

What is business ethics

The companies known for high ethical standards, have an ethical code that requires them to treat everyone with dignity, not present misleading information and meticulously follow the rules and regulations.

A factor of greater weight on the success of an enterprise is the effectiveness with which it can gain the confidence of its consumers. In times characterized by opportunism and dishonesty, a company that can keep intact its business ethics, will benefit from a high level of respect in the eyes of its customers.

Business ethics means consistency between the practices of a company and its moral philosophy. The preservation of these values is, nowadays, increasingly rare, which makes difficult to capture the trust of customers and consumers.

But until that point it is important that a company meets all necessary efforts to ensure that these ethical values are respected? Certainly, for many, this is not a factor of great importance, taking into account the fact that scenarios of dishonesty can tarnish their image. However, a correct posture in the face of ethical issues could very easily be an element of benefit to those companies that adopt it.

what is business ethics
what is business ethics

To the CEO of a company, ensure the following of a proper ethical conduct is not easy. No matter how good are the intentions of the boss, just a simple act by a dishonest employee it´s enough to compromise the image of a company. Unfortunately, since no one can exercise absolute control over the actions of others, there isn´t an effective solution to prevent such situations from happening. However, there is a way to minimize the odds, through the establishment of rigorous entry requirements, as well as a more careful assessment of the nature of all potential employees of the company.

A good business ethics, when properly implemented, could contribute a lot to increase the prestige of the company and to earn the trust of its customers, a factor which will act as an important advantage over its competitors. People want to feel safe and well served, by depositing their money in a product or service. Thus, a reputation confirmed by customer satisfaction, helps to solidify for a long time, the image of a company.


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