Ethics is what make things or processes more people friendly. Considering the present scenario of the market, a customer has endless options when it comes to doing transaction with a company. Ethics are moral values. The effects of business ethics can benefit a company financially and they can also help a company to gain the elements it needs to grow.
Ethics are the values and moral which are individualistic in nature. On one hand, if a person holds onto the ethic until the very end he is likely to get success slowly but for a longer period of time.
It is not good to earn the profit at the cost of other people as there are more chances to lose respect in the society.
On the other hand in today’s world’s people are recognized through their money and power and not whether or not they follow ethics. But not following the ethics might not assure the success of the person for a longer time.
You can also browse following categories:
Let me borrow a quote from Mahatma Gandhi that “It is difficult, not impossible to run a strictly honest business”.
I also think that way, because recently reliance Jio cut down data rates drastically so that it affects other companies but if these companies have a given good offers earlier they could have survived and that will be an ethics. Ethics are rules and moral values. A business must use ethics to get a good image with customers and long term relationship with them.
By using ethical company can get high profits with great struggle for a long time and unethically company can get high profits easily but for a short period of time. Ethics in business can be compared to Sun in solar system. As the entire planet’s and their cycles revolve around the Sun for their survival, similarly, business revolves around ethics for its survival.
Being non ethical indulging into cheats and fraud can benefit a person in business in short run but in long run, unknowingly, the person pays the price of trust, honesty and skill which makes the backbone of business. And everyone knows how a body looks like without a backbone.
Hence, Business ethics (also corporate ethics) is a form of applied ethics or professional ethics that examines ethical principles and moral or ethical problems that arise in a business environment. It applies to all aspects of business conduct and is relevant to the conduct of individuals and entire organizations.
If you want to share your views, feel free to mail us at email@example.com
-Geetika Goyal (Team Itslyf)