Ethics in Business are just a Passing Fad

Hello every one,

Ethics for any business should not be a passing fad. And in present scenario most of the businesses are following ethics. This is a competitive world and every one has to compete for their survival. As competition is increasing companies strive to be ethical.

This is the generation where there is more literacy rate and customers or customers are well aware of what they buying. Thanks to modern stores and add agencies which are providing customer a chance for choosing a product and to know about its alternatives available.

Thanks to globalization which brought involvement of companies in ethical manner in order to achieve competitive advantage over others.

Globalization and business ethics are linked as they affect a company's ability to commit to its shareholders, in particular to external investors, and preserve the trust needed for further investment and growth.

Business ethics involves effective building of relationships with a company's stakeholders based on its integrity that maintains such relationships.

According to me, ethics in business should be a passing fade.

Ethics relates to a person's moral value. Coming to the business it is, how much you are true to your work and to your customers who chose you. Ethics in business is you don't only see your profit by cheating on your customers but also doing a full justification to them and with their demands. So, therefore ethics in this place is very important, because it will be your ethics that will attach a large group of customers with you and it will make a huge success.

Using false practices in your business, you can make a huge profit in your business, but it will be only for a short spam and not for a long time.

If you do full justice with your job as well as with your customers and work with your proper ethics, maybe the profit at that time would be little low, but it will help you in your upcoming future. Customers will bound to you for lifetime seeing your hard work. They will appreciate that you not only thought about your earnings but also valued them. As a result, your business will make a huge success, as customer satisfaction is the important rule in the business world.

Moreover, it will give you inner peace and will make you love your work.

As from my point of view, if a company wants to be in the market for a long time or flourish in their business then they must have to follow the ethics related to business. I want to justify my point with an example a few months ago everyone has heard about a phone called freedom 251 Mr Modi ji make in India initiative but you all know that what happened to that company and their product F251. They have made promises in which they got so much costumer and demand but at last what they promised they are not able to deliver. So for a business what they promise is part of ethics if they can't they can't survive in the market.

Hi Everyone, I am Umesh and I would like to add something to this ongoing discussion.

As per my point of view ethics is the utmost important thing for the survival of the business, because it is the credit that will earn profit for a longer period for any company, it is the quality that provides major revenue to the company.

In today's world in India only so many generic drug manufacturers produce drugs, but still people believe in the standard company, why because they maintain their ethics for all thing, like efficacy, patient compliance.

Same in the IT sector, people are paying too much money for APPLE Iphone, why?

In nutshell I would like to say that ethics generate more revenue for company by creating a good brand image of company in the mindset of customer, so its not passing fad but vital thing for any business.

Thank you.

Hi everyone, according to my point of view, ethics is important in business but only upto a certain extend. Mostly business aims at profit and so there will be stiff competition. One who strictly follows ethics may not be able to survive in the market as the tough competitors would always run far ahead of him.

In other hand, ethics in business gives long term success to the firm and it always stand to keep up the reputation of the company. It attracts customers and their trust in the firm but the thing is one should be able to survive in the market until this reputation is achieved.

Hello everyone,

According to me, ethics in business is very necessary for development and growth of organisation. Everybody knows that for successful growth there must be some rules to follow. Without any rules no one can get success. Ethics provides satisfactory to the employees for jobs, a better and comfortable way to work in company as well as a good decision making which will develop the companies and the environment in which they are working.

A successful businessman is the one who takes his business for long with the profit this is only possible only when he has ethics in his business because a person can get small profit for without ethics but can go no longer in his business cause once you lost the trust of someone you will never make your image up in eye of them.

Ethics and principle on the business or the company stands it forms the core of their policies. Ethics of the company affects it image in the market, employee retention, even affect the investments that company will be allowed to do in the global market.

Lets take an example of TATA group, after the 26/11 Mumbai attack, the turn over of Taj group increased, and the only reason for this increase is the ethical responsibility shown by the group towards, its customers, employees, their families. This enriched their image and increased the customer belief.

Companies along with good quality product or services having great ethical values sustain in the market on the long run.

Hello friends, the ethics in regard with business are as necessary as 'flow' for water to maintain its purity until the water is not pure no one will like to drink also no one will like to use it. So ethics in business are to necessary to maintain its efficient working like we ourselves don't buy a product which does not specify our needs with good quality. And in business to maintain quality is to follow the ethics otherwise it will cause a waste of time with no money and satisfaction.

I believe no organisation can be 100 % ethical. Its a measure of how much good is your business for the people. A lot of natural resources like iron and aluminium ores are in Maoist hit areas. If a company there is paying a chunk of its profit to do business, it is directly funding terrorism. But would a greater number of people profit if the much needed resources are utilised? Likewise, a large corporation may declare to use its profits for developing greener technology, but is it worth stripping the shareholders who were promised greater dividends, Maybe.

Its not possible to do business by being purely ethical, nor can all the stakeholders be pleased at the same time.

Also law should not be confused with ethics. Most of us can relate with the movie 'Guru' where the protagonist pointed out some legal barriers which were simply put in place to hassle businessmen. But he justified that by breaking them, the nation and his shareholders, both benefited.