Business operations in the present world requires both the ethics and profit for its sustainability. I'm not a professional business person but I had the privilege to run and oversee certain business. Most businesses today are in a cross road of decision either to focus on the ethics or the profit whereas some are after the balance between ethics and profit in order to build a good system.
Every business personality should thrive towards striking a balance between ethics and profit for outstanding performance.
Ethics in business entails the principles, values that enable companies to take decisions with customers or any person. Every core values that an organization has must synchronize with the behavior of a client in order to leverage on making more gains. Ethical operations in business entails doing a business with honesty and integrity. In dealing with customers or workers the business organization tend to deal their operations with high sense of integrity and transparency in order to get attention of their customers. When a customer is properly satisfied with a particular service, he's motivated to do more or maintain such organization. Let me share what happened between a good stuff seller and myself. For close to three to four months now whenever I found myself in the market to buy that particular product I go straight to the woman because I enjoyed her services. Last week, i couldn't even bargain for price reduction before she measured the food stuff to me. I saw deep sincerity and high level of integrity displayed. If I don't see her at the usual spot, I quickly suspended it to look for at least her daughter. I finally located where she was and made all the necessary purchases. Integrity and honesty does a lot as far as business ethics is concerned.
Business ethics is also vital for being accountable and respect for stakeholders. This involves considering the interest and concerns of clients and investors treating them with high regard. Some business don't thrive because of the lack of consideration of customer's interest.
These ethics helps to guide any organization that would want to make a significant difference in their world. Ethics helps to build sufficient capacity and gain good reputation for the company. I worked with an organization before that started so little but today it has become a great empire that everyone tends to affiliate with it. Ethics could also help to reduce risks.
Putting ethics into business or integrating it with profit would promote or foster good trust which could lead to maximum profit.
Ethics could be centered more on the clients how to serve them better and make them happy but profit would only enhance the organization, and make them make more money at the detriment of the clients. Considering these two key factors, its very important to bring balance between the two. When good ethics is established, it would help to bring more profit to the organization. Whereas if the focus is more on profit without any profound consideration of ethics hmmm there won't be clients that would increase the profit margin. The two should work together and be considered as well in any decision making. Successful operation in business requires ethics and profit.
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