Question

As a business owner, ethical behavior is essential to the brand you want to develop. One lapse in ethical judgement could destroy your reputation.  Develop a post that explains your interpretation of ethical business practices.  

Answer 1

Ethics are moral standards we rely on when we make decision.They define whats wrong and right. For responsible decision making in a business a good set of ethics are key. Ethics are not only criteria for decision making but also a criteria that public judges .The reason for having high ethical standard includes :-

• It help to attract new customers
• A high moral within your employees and organization.
• It builds higher customer loyality.
• It help to make positive impact on community.

There can be serious consequences if poor ethical decisions are made.

There are several principle which form the basis of business ethics.Which include:-

Integrity: It means a consistent character that is demonstrated by an allignment of your thought, words and action.

Honesty: When people see  you when making honest decision , they will start to trust our company.

Keeping promises : keep every promises that you make and always fulfill a commitment.

Respect : It is given because everyone deserves dignity , privacy and rights.

Caring : This involves having genuine concerns for others , as well as sense of compassion.

Excellence : Delivering high quality business or products make business sense .