Ethics in Business are just a passing fashion

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31 comments Page 1 of 4.

Himani Sheth said:   1 decade ago
I agree with most of the participents in this discussion. In my opinion as well, Ethic is one of The most important thing. To set up any kind of business, the basic thing that one needs to understand is the customer need and satisfaction.
Once the trust is lost, Its lost. Its not very easy to convince an experienced person. At least not in the competitive world of today. as mentioned by many of you, Tata tops the list of customer need and satisfaction. He's made the dreams come
true the commen man and the man who does not want any of his belongings to be commen..

on the other hand we have brands like reliance that offer a good product at the best price. most of the poor would pick reliance product if they dont have too many choices. which is why they'd probably choose it. where as people who are
well versed with the other brands and the value for the product would care more for the best. That's where reliance fails.

But, I 'd get slightly diplomatic and agree with neha..., that be it right or wrong, many corporate giants have been and will be unethical in one or the otherway and would add numbers to the revenues just to get more publicity or increase sales..
for that matter, Advertisements play the biggest role.., 8/10 ads exaggerate the result of the product.. most of them succeed in gaining trust. but how many products actually give the exact outcome of what we heard in the ads?

I HAve fought musquitoes while the "all-out" coil was just a foot away!
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Neha said:   1 decade ago
In my point of view ethics is not at all a passing fashion in business. Because every bussiness runs on the reliability of customers on their product. A businessman can earn profit with unethical rules of their business but only for a short time. In doing so he loss the trust of customers which results in a huge loss to their business. And at last people purchase the product of those companies on which they trust regarding their good services whether it may be some costly to them.
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Chandan said:   5 years ago
No, it's not the current situation of our country specifically in govt Sector and some of the institutional corruption and bribery still poisoning our economic growth. Ethics is a bridge between what we do and it's right or wrong.

Every firm main goal is social service.

We do social service in an ethical way. Like whistleblowing is the result of ethical duties the gov. And the organisation must consider this case very seriously because it's directly related to our society.

Do the things in right and more ethically way. For eg. In IAS exam and IES exam ethics is introduced because it has a lot of case study. What was the problem whom to be responsible for how it can be avoided and much more?
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Pranay gupta said:   1 decade ago
I also agree with the statement that ethics should be followed in business because the person running its business using unethical practices will never succeed in the long run for example satyam computer chairman raju did a fraud in its business and he is in jail now but ratan tata the classic example in running its business using ethics practice he is a very successful businessman n people admire that one.
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AJINKYA said:   9 years ago
I would like to add some extra point in this discussion. First to follow 'ethics and compliance' is very needful for every organization to succeed in these competitive world. If we give better service and satisfaction to customer, it will be very easy to achieve our targets. There is no any shortcut for long-lasting success. It will take time but your career will be best.
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Harish patidar said:   1 decade ago
In today's world ethics is much more important, if you don't cares for others you would not go longer but you can earn only short term profit. Let take a example of Ratan Tata men who knows the values of others and made a car in just 1 lakh rupees for peoples who dreaming for a car. Other side take example of Bhopal gas tragedy in which thousand of people lost their lives, just because of irresponsibility. Here men doesn't know the values of peoples and then he flies off from India and today he, Anderson is neither a good business nor a good men.

So friends one should know the ethics for business then only he became a good business men.
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DUNCAN said:   8 years ago
Ethics goes hand in hand with the success of the business although some may argue differently to win the trust of the public whom the success or the failure of the firm depend on upon the business has to uphold ethical practices at all levels of the management.
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Shreya said:   1 decade ago
The topic draws our attention to as to how ethical practices are related to business. Ethics are an integral part of any business association that seeks to survive and flourish in the long run. People have a deep faith in organistions like TATA because it never compromises on its ethics and as a result, has greater customer satisfaction and correlated business growth.
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Rohit kumar said:   9 years ago
Hello friends, as per my opinion ethics plays a very vital role in Corporate, India is developing country and everybody is aware that what is right and what is wrong, if the company is promising to provide the value and the services and not to hang on their commitment, it will reflect the mindset of customer so it will not be good for long term business.

As we all know that 4 satisfied customer make 1 loyal customer. If the customer will not satisfied with the product and the values of the product which was offering by the organization. The reflection will be show on the business of company and ultimately the business will declined.
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Ajit kapoor said:   10 years ago
Hello Friends,

Ethics is your integrity and your commitment to carry forward it even in an-appropriate circumstances. A business builds of a value and that value is the effect which attracts the customers towards the business.

There have been successful businessman who have been known for their integrity and ethics in business. The best example for this will be TATA. The brand equity which your brand develops for a long period of time is a function of the ethics for which the company is known.

To create sustainable and profitable businesses, ethics are very important. Such is the strength of ethics in business that it also helps a company to diversify into other segments or new markets which are not its core competency, but the Business gets success due to its ethics.

One of the good example can be Mr Raju from Satyam who keep fraud his shareholders, and you can see the result where he ended despite being a very rich person for nearly 8-10 years. "Sustainability" is something which can only be achieved by ethics and hence results in profitability and successful business.
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