business ethics

Why business ethics Is Important

business ethics┬áToday we are going to talk about business ethics.Have you ever been scammed? Bamboozled,ripped off? I’m not going to ask you how you feel because I know you feel terrible you build your hopes up on only for it to get dashed on the rocks. People who are scammers are among the worst people on the planet and they are everywhere even here in Jamaica they have made quite a name for themselves but time will take care of them.

You must understand that time is the enemy of immorality every man or woman who has ever performed an act of crime always gets their comeuppance it is inevitable like clockwork. If you are running a business and are scamming your customers how long do you believe you will be in business? Quality always lasts think about it the pyramids are still standing today because despite being made thousands of years ago they were made with quality materials that stand the test of time. Hold on to your ┬ábusiness ethics and don’t try to trick people, it always surprises me how unethical people can be, you cannot build a sustainable income this way. It doesn’t make sense to build your business from scratch then do some dishonest thing to lose your customers.

Why companies with low business ethics fail in the long run

People don’t like to be lied to, they want to know they can trust a business to deliver what they advertise or give them their money back.
business ethics is also important because it makes other business owners want to do business with you and can let you build powerful relationships, no one wants to invest in a shady business so much so that if there is even an allegation that a business entity engages in unethical activities many businesses will distance themselves from
that business, some people will even stop investing in the business, we see this in stock prices. It’s all about perception, would you want someone who is an alleged convicted criminal to be around you even if it is just speculation? The problem, however, is that integrity is fragile in everyday life and more so on the Internet. I was reading this article the other day about a jewelry store that had been around for years and had built up a great customer base. They worked very hard on their business and they had good business ethics as they were seen as a trusted source for jewelry. The jewelry store had a facebook page that they had built up over the course of four years and a competitor apparently paid to have someone leave one hundred fake negative reviews on their page, lowering their positive rating from over 4 stars to just above two stars. In the world of social media, your rating is the lifeblood of your business that’s how you get paying customers to your site in order for them to buy your product, no one will buy from a two-star business they will have assumed that your customer service is poor or your products are poor. long story short the jewelry store fought back (you can read the story here). That story is a story of poor business ethics on the part of the competitor, I would not want to do business with a company such as that.

When you are not of a mindset of having integrity you have the mind of a value extractor and no business was ever created to be this way and last, business is literally solving other people’s problems for a fee which means by definition of a business you would be doing the opposite, you should be adding value not extracting it.

What do you believe? Do you think business ethics are important and why? Leave a comment below, subscribe to my mailing list for more and as always stay focused

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