Implementing Business Ethics

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Importance Of Business Ethics

Business ethics is the term which should be adopted by all the units irrespective of their size and location. However the ethics should adheres not merely in dealings with the customer but any one who is contributing to the success of organization/ company. Although there is not thumb rule or set fundamentals of Business ethics it can vary for different businesses. In nut shell Business ethics build the positive reputation of company and drive the long term success.

For instance being fully committed to overseas agent for exclusive representation in particular region can drive success in long term only if supplier or exporter stick to their commitment and don’t provide products to any other importer.

Needless to mention it takes years to build customer base in overseas market and once the reputation has been spoiled at agents end it works as grapevine which spreads across entire market. Business ethics should be implemented in such critical market and stick to commitment instead of considering the bottom objective, which is profit.

There are many global businesses, reached to these heights and successful among their customers due to their business ethics. They rigorously follow any regulation imposed by government, hazardous effects in their manufacturing process being omitted, health issue for general public taken care.

There are quite lot number of Textile chemical manufacturing units in China, since they never followed the guidelines issued by government under environmental issue, their all operations have been closed down and some of them have been completely eradicated. Hence if these companies have been adhering to business ethics and would not have breached the laws, their future must have been bright.

Apart from various health issues, there is one serious issue which has been misruled by many business units that is child labor. In countries like Honduras and Mexico all manufacturing units which are listed in stock exchanges are bound to issue the notice that they are not engaging any child labor in their manufacturing unit.

They are making clean declaration of eliminating any exploitation on child. All the deserving workers should be paid as per their potential and no gender discrimination. Business ethics can not be restricted to particular industry it is applied to everyone from service provider to manufactures and exporters.

 

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