Question

What ethical concerns, if any, are raised by your involvement in the partnership that purchases small businesses, and what must you do to address them?

Answer 1

wen purchasing any reasonable asset there are many factors that you need to consider before buying .one of the main concern is ethics, whenever we are purchasing or acquiring a small business , there are many ethical concern that we need to consider.

ethics is moral principle-it is a system that defines right and wrong and provide a guiding philosophy for every decision you make.

integrity and fairness

integrity is an all-encompassing characteristic of a ethical business.the ethical business will have followed proper rules and regulations at the local,state and federal level.it treats its employees fairly ,communicating with them honestly and openly.it also ensures fair dealing with customers and stakeholders.this is one of the basic factor you need to consider when acquiring a business.

core value statement

an ethical business has a core value statement the describes its mission.any business can create a value statement but an ethical business lives by it.it communicates this mission to its employees within the structure and ensure that it is followed.the ethical business will follow there code of conduct.

loyal relationship with employees and customer

solid relationship area a cornerstone of an ethical business.loyal relationship are mutually beneficial for both parties .when acquiring the business they must ensure the relationship to the employees.to ensure that this is done properly.

concern for people and environment

an ethical business has a concern for anyone and anything impacted by the business this includes customers,employees and other stake holders.every decision made by the business is based on that effect it may even have on any one of these group of people or the environment surrounding it.

customer is king

one of the main thing to ensure before purchasing the business is that there customer relationship.if they have a good customer base and treat the customers ethically and properly the main part of the ethical concern is done.

these are some of the main ethical factors that you need to consider before purchasing a self employed business.