business ethics

Business Ethics

To keep it simple, business ethics is nothing else but being honest and truthful with your customers and other businesses. Conducting yourself and your company in a truthful manner, avoiding trick and scheme to gain profits.

Sounds pretty much like common sense does it? Yet still everyday we hear about corrupt business practices for capital gain, some industries are more susceptible than others.

While we can expect that every company makes it sound like their products or services are the best or do not disclose any weaknesses, we need to find the fine line of effective marketing and unethical business practices.

If the perceived value of the advertising is fulfilled by the expectation of the customer or the company has a return policy, than no harm is being done.

On the other hand, if the direct opposite is the case and you make promises which you knowingly cannot fulfill, than you act unethical and fraudulent.

To maintain proper business ethics just align yourself with some basic rules of conduct.

  1. Tell the truth and disclose what you know
  2. Don’t do to others what you don’t want others to do to you.
  3. Be honest and admit mistakes you will gain your customers trust and respect
  4. Don’t try to make yourself or your company look better than you actually are. Always tell the truth over popularity.
  5. Before selling, build a relationship with your customers
  6. Exceed your customers expectations. Under-promise and over-deliver.
  7. Create a true value for your customers.
  8. Use your common sense in difficult situations and have a strong customer service policy. If there is a doubt, than the customer is right.
  9. Educate your staff to present your company in an ethical manner.
  10. Build a strong reputation by maintaining high standards of business ethics.

It is hard to believe that companies have difficulties to align themselves with these simple, most logical steps. Lawsuits and costly litigation procedures are happening all the time just because of misconception or non-dislosure.

This can simply be avoided by creating strong policies and uphold of a honest business approach. Think long term success and not temporary gain.

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