Change will work unless it contradicts your principles.

The story of the week tackles a sensitive topic, business ethics. The lack of it might bring some advantages short term but in the long game, sooner or later you will need to change your ways if you need to stay in the game. You know the famous saying - you shouldn't ask a rich man how he made his first million. But after reaching wealth and securing the first levels of the Maslow pyramid, in order to reach the top of that pyramid you need principles too, money is not enough anymore.

On the other hand, having some strong principles could turn out to be a deterrent in implementing change, when the change takes you to a place that contradicts your values and beliefs. This is why i always recommend a diagnosis before starting a change journey. Recalibrate the vision and make sure the future you are going to emerge into after the transformation process is still compatible to your ethic business. Otherwise you will be not only fail but you will also have to fight your own organization on the way.

Our fairy tale of the week speaks about a king. It is a similar story to the "The Emperor's New Clothes" by Hans Christian Andersen the difference being that we were not talking about clothes but about ethics. The king in his vanity was convinced he was a role model to the subjects, his values flawless, and so his actions could bear no error. Alas there is always a child like character in every story that musters the courage or just doesn't know better and bursts out the blatant truth, the king has no values, no principles, he is a shell of a man trying to be something he's not.

But in our story of the week, not that different from Andersen's, the people ignored the child and the king could finish his procession proud as a peacock. Alas, the change process they were going through needed that the values and principles he was promoting really existed and since they were just wishful thinking, the people and the organization had nothing to rally behind. So they had to go back to the moment in time they were functioning without principles and values, because the laws of business, similar to those of nature, always balance the ecosystem out.

"Ethics in business - it's a fight worth fighting" - Alan Lowne

Ethics is a big word, with an important impact on the lives of each of us but also on the businesses in which we are involved. We are talking about a set of concepts and principles that guide us in determining which behaviours help or harm other people or organizations. For a business with good karma, we need to follow these principles when it comes to business. And at the moment we are in, when everything is turned upside down, it is all the more important to have them.

Market share, price, strategies and brands are important to your business, but they tell a story about your product or service. In the "jungle" of business, interpersonal relationships are increasingly important and we are defined as people of character and reputation. Character is defined by our actions, who we actually are, while reputation is defined by a series of perceptions, it is what others think of us. The principles on which we build our business are important in defining us as valuable partners in the future. It is difficult for suppliers, customers and business partners to quickly identify what our character is, that is why initially partnerships are formed based on reputation.

The following principles are or should be a universal standard of good or bad actions, which define the type of behaviour that an ethical company should or should not have.

Honesty is the best policy. When planning a long-term business that you want to grow and develop, honesty is the cement in your foundation. You can only cheat a partner once, after that they will never work with you again. You have the option to build a "hit and run" business or a business with future and impact.

Integrity means doing the right thing when no one is watching. Integrity means having a strong connection between your words, thoughts and actions, all the time. It's a principle that puts a lot of pressure because the person checking you is the one who looks at you in the mirror in the morning. It demands a lot from you because it forces you to keep your direction regardless of the storm you sometimes go through.

Promises are just words until they are fulfilled. You must always respect the promises made; promises should be immune to context switching. When you keep your promises you show your partners that they can rest easy when they are involved in a project with you because you will deliver the part you are responsible for.

Loyalty is valuable only within the framework of other ethical principles. Loyalty means devotion, a sense of duty to a person, a group, but that is not a reason to violate any of the other ethical principles. You are indeed loyal to your partners and do not betray their trust, but that does not justify everything. And for loyalty to really work, it needs to be a two-way street. Don't make someone a priority who sees you as an option.

Treat everyone with respect. You should build your business in such a way that you get the respect of your partners. And the first step in achieving that is to respect them first. Respect is an attitude of admiration and esteem but should not be confused with tolerance. As Alexandre Dumas said "In business, sir, we have no friends, only correspondents."

Be responsible. The moral businessman is always ready to take responsibility for his actions and decisions. The only good way to handle a problem is to own the outcome and be prepared to offer a solution. You have a responsible business and your partners expect you to behave accordingly.

Fairness. We all know the term fair play; many of us know it from sports, but why wouldn't it also be used in business? Fair play doesn't mean lowering your standards to give others a chance, but making sure you both play on the same field, by the same rules. More precisely, treat your partners, competitors or employees the way you want to be treated. "Being a good person is easy, what is difficult is being correct" - Victor Hugo

Demonstrate compassion and genuine concern for the well-being of others. To care about the environment, your life and that of others will unfold in the future. If you care about people you will be rewarded accordingly. You must always keep in mind the people who will be affected by your business and consider their interests before taking action. Get involved in CSR projects and focus on the new generation and help build a world you want your children to live in.

Pursue excellence at all times in everything you do. Your goal should be not only to build a successful business but also to be better and improve your services and products all the time. You have an obligation to others to try to improve what you give them and make their lives better

Albert Einstein said that "if people are good only out of fear of punishment or because they hope to receive a reward, then we really are a pitiable group."

When you build your house, it is faster and easier to build a smaller foundation or a straw roof instead of tin. But that house is the place where you will live for a long time, together with your family, so I don't think it's the best decision to skip construction stages. Compare the house with the business, will you build a strong, stable business for the long term or will you try to strike and then run with the reward? For a great change story build a foundation that can support all your transformation for the next decades of your career or business.