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!
(43)

Zaid said:   8 years ago
Hi all,

Ethics is always considered to be the core of human values since the inception of living creatures. Especially in a country like India which is well enriched with religious values and culture, we consider our moral values to be very high. But lets face it now. In lure of getting success, the era in which we are breathing the definition of ethics is self centered. Human values should be the "end" not the means!

Take example of all the recent major scams. Recently Volkswagen emission test scandal or Sathyam scam or coal scam or Enron. One person commits a fraud or unethical behaviour at the top management. Now knowingly or unknowingly the subordinate supports that fraud considering it to be the means to earn more or be more recognized. Thus, sacrificing our own ethical values in gaining short lived pleasure of success.

Anyways, there always going to be a battle between economic progress and ethics. One has to compromise the other to reach new heights. May be some unethical behaviour favours new job creations, eradication of poverty and making one country look more brighter than the other. As many truths are still hidden of why some countries are emerging so fast.

The best alternative should be "To look at the larger benefit of society and people".
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Ajit kapoor said:   9 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.
(14)

Ainam said:   1 decade ago
Hi friends, I don't agree that ethics are just the passing business in our business world. In today's world, we still consider those companies and brands who have good business ethics and moral values. For example- reliance India company or aircel have a good name but not trust of the people as they provide very bad networks and services, in order to promote their products they repeatedly go on adertising their products and provide cheap offers so that customers get attracted to them, but mostly it does not happen. Though they have good customer ratings because of poor people who cant afford so much expense in mobiles and all.

On the other hand, people get attracted to those companies like airtel and vodafone have international connections and also have good services and provide best offers to people for people. They are the leading companies in the matter of mobile companies.
(9)

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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Yazar said:   6 years ago
Hi, Business ethics this is very hard to believe lesson in each and every successful business peoples in the world.

This is mainly focusing customer satisfaction. If you are going to buy a things in the market there no of brand are available. Peoples thinking about that we spend this much money to buy this product. Is this worth which we offer that much money for this product. This is the question will rise everyone mind. Here the ethics play the role. Peoples will buy the product Bz peoples believe that. Very hard to convince peoples. They will not buy only by the feature they will buy for the benefits. So ethics in business not just a passing fashion. It's a passion.
(6)

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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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.
(14)

Milind said:   1 decade ago
Trust of customers totally depends on Ethics. Unethical things may work for short term profit but for long term profit business should follow ethics. What is brand name? I think that represents trust of customers. We purchase the things of which brand on which we have trust example Bajaj Group known for good and economical vehicles, they buid trust by ethics. Now people also purchasing their other products like Electric household appliances etc. So I think ethics is one of the most important factor for survive in this competitive business world.
(11)

Reddy said:   1 decade ago
According to my perception being ethical shouldn't be a rule to be to be followed by people. Being ethical should always be fire in the heart of a business men in the business world and also other people which helps in building a minor but the most important relations and people which is quite essential for the development of an organisation.

Ethics is an hidden and always driving force for every corporate individual which can be proved through the development we gain till now in business sector. So ethics is never a passing fashion.
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