Business Ethics
Business Ethics and Customer Satisfaction Issues & Challenges
All of us would have heard an old saying “It’s all fair in Love, War & Business”. I am not sure about love and war but not everything is fair in business as today’s civilization is sensitized and present to how the business is conducted.
All big business houses today have an ethical code of conduct or value system in place which guides them on how to function or how to take business decisions which confirms to their ethical code of conduct or framework of value system and beliefs.
Customers want to be associated with the brands/ organization which are ethical and organizations are constantly working towards building their value systems and ensuring that they are perceived as ethical company in the eyes of external world as its one of the key essentials of business.
Business ethics are moral principles that guide the way a business behaves. Acting in an ethical way involves distinguishing between “right” and “wrong” and then making the “right” choice. It is relatively easy to identify unethical business practices. For example, companies should not use child labor. They should not get involved in copyright infringements or they should not engage in bribery.
But it’s not very simple or easy to determine what’s right “As what right for you might be wrong for others”. For example mission statement of an organization can be “to give a competitive returns to the shareholders of the company” which is perfectly ethical but they should ensure that it’s not done at the cost of harming the society, environment or communities.
Hence it’s the value system of the organization that sets the standard of Ethics. Companies are constantly working in getting the value system to be imbibed in their employees as the employees of the organization interact with their external customers and their actions should ensure that the value systems are being followed.
Hence once the value system becomes the DNA of the
All of us would have heard an old saying “It’s all fair in Love, War & Business”. I am not sure about love and war but not everything is fair in business as today’s civilization is sensitized and present to how the business is conducted.
All big business houses today have an ethical code of conduct or value system in place which guides them on how to function or how to take business decisions which confirms to their ethical code of conduct or framework of value system and beliefs.
Customers want to be associated with the brands/ organization which are ethical and organizations are constantly working towards building their value systems and ensuring that they are perceived as ethical company in the eyes of external world as its one of the key essentials of business.
Business ethics are moral principles that guide the way a business behaves. Acting in an ethical way involves distinguishing between “right” and “wrong” and then making the “right” choice. It is relatively easy to identify unethical business practices. For example, companies should not use child labor. They should not get involved in copyright infringements or they should not engage in bribery.
But it’s not very simple or easy to determine what’s right “As what right for you might be wrong for others”. For example mission statement of an organization can be “to give a competitive returns to the shareholders of the company” which is perfectly ethical but they should ensure that it’s not done at the cost of harming the society, environment or communities.
Hence it’s the value system of the organization that sets the standard of Ethics. Companies are constantly working in getting the value system to be imbibed in their employees as the employees of the organization interact with their external customers and their actions should ensure that the value systems are being followed.
Hence once the value system becomes the DNA of the