10 KEYS FOR GOOD BUSINESS ETHICS.
Quote of the Day: A business absolutely devoted
to service will have only one worry about profits. They will be embarrassingly
large. -- Henry Ford
3. Integrity. Integrity refers to whole-ness, reliability and consistency. Ethical businesses treat people with respect, honesty and integrity. They back up their promises, and they keep their commitments.
4. Truth-telling. The days when a business could sell a defective product and hide behind the “buyer beware” defense are long gone. You can sell products or services that have limitations, defects or are out-dated, but not as first-class, new merchandise. Truth in advertising is not only the law, business ethics require it.
Business ethics are the key to profits. If
clients and customers don’t trust you, and your business ethics, they will not
do business with you. Would you buy from a company you didn’t trust? Of course
not!
Business ethics have become a hot-button topic.
There are often ethical conflicts between making money, and doing what is
right. There can be dilemmas about doing what is best for your employer, what’s
best for your own career, and what’s best for the customer. Business ethics is
about negotiating these mine-fields.
Here are 10 keys to good business ethics:
1. Personal
Ethics. There is no real separation
between doing what is right in business, and playing fair, telling the truth
and being ethical in your personal life.
2. Fairness.
Would a dis-interested observer agree that both sides are being treated
fairly? Are both sides negotiating in good faith? Does each transaction take
place on a “level playing field”? If so, the basic principles of ethics are
being met.
3. Integrity. Integrity refers to whole-ness, reliability and consistency. Ethical businesses treat people with respect, honesty and integrity. They back up their promises, and they keep their commitments.
4. Truth-telling. The days when a business could sell a defective product and hide behind the “buyer beware” defense are long gone. You can sell products or services that have limitations, defects or are out-dated, but not as first-class, new merchandise. Truth in advertising is not only the law, business ethics require it.
5. Dependability. If your company is new, unstable, about to be
sold, or going out of business, ethics requires that you let clients and
customers know this. Ethical businesses can be relied upon to be available to
solve problems, answer questions and provide support.
6. Business
Plan. A company’s ethics are built on
its image of itself and its vision of the future and its role in the community.
Business ethics do not happen in a vacuum. The clearer the company’s plan for
growth, stability, profits and service, the stronger its commitment to ethical
business practices.
7.
Business Ethics apply Internally and Externally. Ethical businesses treat both customers and
employees with respect and fairness. Ethics is about respect in the conference
room, negotiating in good faith, keeping promises and meeting obligations to
staff, employers, vendors and customers. The scope is universal.
8. Profit. Ethical businesses are well-run,
well-managed, have effective internal controls, and clear expectations of
growth. Ethics is about how we live in the present to prepare for the future,
and a business without profits (or a plan to create them) is not meeting its
ethical obligations to prepare for the
future well-being of the company, its employees and customers.
9. Values-based. The law, and professional organizations, must
produce written standards that are inflexible and universal. While they may
talk about “ethics”, these documents are usually prescriptive and refer to
minimal standards. Ethics are about values, ideals and aspirations. Ethical
businesses may not always live up to their ideals, but they are clear about
their intent.
10.
Business Ethics come from the Boss.
Leadership sets the tone, in every area of a business. Ethics are either
central to the way a company functions, or they are not. The executives and
managers either lead the way, or they communicate that cutting corners,
deception and dis-respect are acceptable. Line staff will always rise, or sink,
to the level of performance they see modeled above them. Business ethics starts
at the top.
Ethics is about the quality of our lives, the
quality of our service, and ultimately, about the bottom line. An unhappy customer complains to an average
of 16 people. Treating employees,
customers, vendors and the public in an ethical, fair and open way is not only
the right thing, in the long run, it’s the only way to stay in business.
Nice Posting...
ReplyDeleteI agree, Business ethics are the key to profits. Thanks for sharing about 10 keys to good business ethics. I am always looking out for ethics training