Ethics in Business – Priorities, Balance of Benefits & Responsibilities

by George Mike Marketing manager

Ethics in Business – Priorities, Balance of Benefits & Responsibilities

Corporate social ethics means fair play under certain rules. Elaine Baxter from Little Rock also shared her thoughts about it. At the same time, the wrong view of business etiquette perception and success in customer relations is common among business people. However, it is entrepreneurial ethics that also ensure that the desired market heights are reached according to its fundamental values.

Key Business Ethics

It is particularly important to note that the fundamental concepts of business ethics remember primarily the biblical commandments which were translated into the language of the modern world in our century. The fundamental principles that contribute to governing his social responsibility play perhaps the most crucial part in gathering business ethics. This element involves caring for workers of the company, the production of new jobs, white employment, education and other benefits.

There is also an individual approach to customers of corporate ethics. This is high quality and equitable (that is, acceptable) pricing of goods and services. It should also include full transparency in advertising campaigns and various ways to promote a product.

Professional business ethics about partners, investors and shareholders demand that the agreed amounts be paid in due time, that all items in the various commercial treaties be respected and that the information needed to be provided.

Furthermore, corporate ethical principles relate to a specific market niche to international ties and global cooperation. Business ethics, in the first instance, means eliminating discrimination on the labour market, taking due account of private property and upholding the trade rules. In the second example, it means compliance about staff, customers, vendors, stakeholders and more with ethical principles.

Thus, the ethics of business implies the following main qualities of a business person:

• a sense of collegiality;

• decency and honesty;

• ability to constructive criticism;

• competence and professionalism;

• compliance with the position held;

• conflict-free;

• respect for property rights;

• fight against corruption;

• awareness;

• corporate social responsibility.

Business Ethics Priorities

Unfortunately, many entrepreneurs in the modern world are satisfied only with respect (or not always) of established legal norms and laws. Ignoring them can seriously harm a businessman's well-being and put his company at risk. Although ethical principles in business are a kind of 'act of goodwill,' they leave the entrepreneur himself free to choose. Rarely is there any risk or threat of non-compliance with business ethics which is also observed by Elaine Baxter from Little Rock.

Therefore, a substantial number of entrepreneurs are not responsible and typically adhere to practices which are entirely contradictory to the core principles of business ethics. When the company and its representatives directly concern itself with their non-compliance, loud statements about injustice and unwritten legislation begin naturally. The only old principle, 'End justifies the means,' is usually applied to this point. The critical issues in business ethics continue with him.

Meanwhile, several businesses' experience demonstrates that a lack of such moral and ethical values cannot guarantee a comfortable life not only in our daily lives but in the business world as well. It is no secret that the quality of work is the guarantee of success in virtually every economic field. This, in turn, depends directly on the team atmosphere, employee relations and their relationship with their activities, management and the whole company.

And here the best expression is "What goes about is happening." And since all of the above factors depend mainly on the company's or organization 's policy, it is primarily his responsibility. For instance, if a manager doesn't display sufficient respect to his subordinates and partners, the quality of his work would be adequate.

Workers of successful large corporations who abide by the standards of corporate ethics – offering material and spiritual support for their staff – always perform better. It is because of many factors. Included among them is the presence of stimuli. A friendly team and ambitious managers promote a person's willingness to work well, with a fair salary and the necessary conditions for the activities.

Balance of benefits and responsibilities

Of course, even a business person who has long been accustomed to compliance with the laws of corporate ethics would be hesitant to choose between significant income and fidelity to values especially if your own business is seriously harmed. However, it should be noted that you may lose your reputation overtime in one day. In other words, a thorn for profit can threaten all carefully thought-out policies and even their fruit.

It means any businessman who wishes to comply with ethical principles in business must find a balance between the desire for revenue and social responsibility to prevent such an occurrence. The choice between short-term benefit and long-term performance is significant. Elaine Baxter from Little Rock says, “the importance of spiritual and material values, the interests of the public and your interests, as well as personal objectives and methods, are essential for yourself.”

The balance between these factors and not the rejection of one of the elements, it is essential to understand, are for a long time the right key to the welfare of a business.

Elaine Baxter from Little Rock received her Bachelor of Science in Business Administration from Southern Illinois University. Elaine has spent many years in the healthcare field. Elaine Baxter has a photo gallery featuring photos from her life and her adventures.

Please visit the websites and blogs of Elaine Baxter from Little Rock;

ElaineBaxterBlog.com

ElaineBaxter.com

Elaine-Baxter.com