| | Hi Friend,
A company’s ethics will determine its reputation. Good business ethics are essential for the long-term success of an organization. Implementing an ethical program will foster a successful company culture and increase profitability. Developing a business ethics program takes time and effort, but doing so will do more than improve business, it will change lives.
A company's ethics will have an influence on all levels of business. It will influence all who interact with the company including customers, employees, suppliers, competitors, etc. All of these groups will have an effect on the way a company's ethics are developed. It is a two-way street, the influence goes both ways, which makes understanding ethics a very important part of doing business today. Ethics is very important, as news can now spread faster and farther than ever before.
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| | What Is Business Ethics?
People often automatically assume that businesses are unethical. Business seems to be constantly linked to scandals. The company culture helps determine the ethics of the organization. It is crucial that businesses behave ethically in every working relationship.
Ethical Obligations:
- Employees: Companies need to treat all of their employees ethically. Begin by providing employees with the rights guaranteed to them by the United States Department of Labor. Ethical businesses, however, may go beyond the minimum requirements in the way that they treat their employees.
- Shareholders and investors: There is a moral obligation to pay back investors and meet the needs of shareholders, particularly low level shareholders.
- Customers: Every business needs to build ethical customer relationships by providing safe products and honoring warranties. Consumers are growing more aware of which companies treat them fairly, and they will support the ones they trust.
- Community: Businesses have an ethical obligation to be involved in their local communities. This includes communities where they interact with customers and beyond.
- Vendors and Other Companies: Always deal ethically with vendors and other organizations you work with.
A successful ethics program needs safeguards and a clear code of ethics. In order to get the most from a program, it is necessary to evaluate and make adjustments from time to time. Becoming an ethical business is a process that takes time, but it is possible to succeed if all those involved uphold the program and continue working towards a common goal.
“The most important persuasion tool you have in
your entire arsenal is integrity.”
- Zig Ziglar
Have a great week!
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| | | About Steve Porcaro
Steve is extraordinarily passionate about inspiring people to create the life and business they deserve. Together, we’ll develop strategies, skills, and tools to help you turn your dreams into reality. If you’ve tried shifting direction on your own, and it hasn’t worked, we can help.
Founder
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