Addressing Poor Business Ethics

Studies from the University of Notre Dame gives that "ethical operations are important to succeeding in business"

As an entrepreneur looking to succeed in a highly competitive market, several opportunities may present themselves to urge you to cut corners.

Ethics simply put; is the acceptable way of doing things among a group of people. It varies from region to region; business to business.

A business cannot be unethical, but the individuals within a business can be.

Dear entrepreneur, did you know that cutting corners to hasten success would profit your business? Yet, the possible damage that would be incurred if caught in the act could annul your efforts.

Take a few moments after reading this article to research about the ethical issues faced by British Petroleum, Theranos, and Volkswagen. You may learn a lesson or two about the consequences associated with the poor ethical standards of a company.

So how can you propagate and maintain high standards in your enterprise?

? Develop strong policies regarding the right way of doing things across your organisation's hierarchy.

? Create and Communicate ethical values to every employer or contractor you hire

? Develop a system of reporting issues relating to ethical violations

? Encourage the members of your company to develop a strong moral compass

Several ethical issues such as discrimination (treating a set of people differently from another set of people who are no different), favouritism (giving benefits to someone without clear justifications as to why), fraud (intentionally benefiting at the unknown expense of others), and sexual harassment may appear as seemingly negligible issues that can destroy your years of hardwork. Rather than choosing to ignore these issues, thrash them.

We are hopeful that your organisation will turn out to be ethical and would have no hindrance due to poor ethical standards.