Why Bother With Ethics?

Ethics are the principles that guide how we make the best choices that contribute to the common good of all to make the world a better place.

Ethics in business is as important as ethics in personal life. Business leaders have a responsibility in shaping the ethical culture of their businesses and thereby influence their broader communities. Why do ethics matter for business?

Ethics are the principles that guide how we make the best choices that contribute to the common good of all to make the world a better place.

Ethics in business is as important as ethics in personal life. Business leaders have a responsibility in shaping the ethical culture of their businesses and thereby influence their broader communities. Why do ethics matter for business?

1. Clients choose and appreciate ethics: When you’re noted for consistently being ethical in your business dealings and treatment of your employees, clients, and the community, more people will want to do business with you.
2. Employees are more loyal to an ethical company: When employees see management make ethical choices, it boosts their confidence & morale. As word spreads about how well employees are treated, you’ll draw in good workers. Having strong employee retention rates helps the company save money over time on recruitment & training costs.
3. Ethical companies are more productive: When executives and employees in a company make good, ethical decisions, it’s good for the company. It helps the company grow, have bigger profits, and a strong bottom line.
4. An ethical office means lower legal costs: Businesses that practice good business ethics face less risk of legal trouble. Much trouble can be avoided just by doing what’s morally right. If business decisions are made with that in mind, you can save the stress of having to defend your company against lawsuits.

In order to avoid ethical dilemmas:

• Don’t just say yes: Think carefully about the consequences of your actions and/or decisions. Learn to say NO.
• Be assertive: Stick to your words and don’t allow yourself to be convinced or bullied to do otherwise.
• Lead by example: Practice what you preach/Do as you say. Be consistent in your stance to be ethical, even if no one watching.