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  • Category: Miscellaneous

    Are ethics in business required?


    Have you experienced unethical practices in business? Do you think today's business world needs more ethics? Share your experiences or thoughts here.



    We know many business people doing different types of business. The very purpose of business is to make profits and make a livelihood. But these days we are seeing many people who are in business don't care about these ethics and it appears as if money making is the only motto. This attitude is appearing on the higher side these days at all levels of business. A street vendor tries to save 100 grams of vegetable while selling 1 kg by weighing wrongly and deceives the customer. A managing director of a big company tries to make money illegally by getting loans from banks and cheating the public. Do you feel that ethics are important in business also?
  • #629378
    Ethics in business is required but what to do if the customers themselves promote unethical business by preferring to buy merchandise without proper receipt. Be it poverty or any such other reason, the local shop/vendor is always preferred by the common man in India who sells the goods at cheaper rate by evading payment of taxes.

    A new entrant in business seldom succeeds because of lack of knowledge of trade secrets i.e. how to manipulate the things. Hardcore businessmen inherit such secrets from their previous generations and thus flourish by practicing the same.

    Few unscrupulous professionals like doctors, teachers, lawyers and CAs also act like businessmen and evade payment of income tax.

    Let us encourage each other in sharing knowledge.

  • #629384
    Business in the alternative way & can be a synonym for MONEY. So business is only consisting of activities or a culture that results in profit making in terms of money.

    Ethics is different. At its simplest, ethics is a system of moral principles. They affect how people make decisions and lead their lives. This is concerned with what is good for individuals and society and is also described as moral philosophy.

    So, as per the above definition a ETHICS can't be the resemblance of the culture or the activities in a business.

  • #629393
    By the way business means making profit over and above the landing price for the vendor and thus making some profit for the risk of taking to marketing and selling with convincing attitude. A street vendor gets the vegetable say at rupees 20 per kg at the whole sale market and then he arranges the items in such a way on the cart that , the house holds are tempted to buy for its freshness and purity. And the vendor fix the price at forty or fifty per kg with no bargaining attitude. So he may not be interested to cheat 100 grams less. But if the purchaser bargains more, the vendor also cheats.
    K Mohan
    'Idhuvum Kadandhu Pogum "
    Even this challenging situation would ease

  • #629415
    The core of most buisness ventures is to earn money, generate profits. Often profit targets and Ethics are at cross roads in most service sectors/buisnesses.

    In the long run, yes, Ethics and Professionalism will help the firm or the company to establish it's brand name but the catch would be can it afford to be Ethical.

    In some places of faith, the holy person or the priest misleads the devotee to perform a few poojas. In the healthcare sector, some doctor orders for many tests for patients. In some civil cases, the lawyers keep prolonging the case for the client. I can list many more examples. Sadly, these are done for personal gain of the service provider. In such situations, Ethics does not figure in real world practice.

    So, it's up to the management of the firm, the employees, the regulatory authorities to ensure that the acceptable level of Ethics is incorporated in the business. At times, if all these fail, then it's up to the clients or the end users to unite and question the level of ethics or lack of it.

    I had an earlier thread on how circumstances change the level of ethics
    Situations significantly influence our Professional Ethics.

  • #629437
    It is a must. Because of unethical business only, we started facing polluted natural resources, illness, different types of diseases, financial crisis etc.

    Business, these days are taught like creating demand, instead of serving demand. Introducing a new technology and creating business with it is ethical. Example radio, TV etc.

    Spreading disease and creating demand for its medicines is unethical. So, by creating false demand, they increase production, thus exploiting of natural resources happen naturally.

    In Tamil literature, there is a verse, " kodupathum kurai illamal, edupathum migai allamal " it means, selling with good quality and acquiring money not more than its worth is an ethical business. However, this couldn't be completely followed, atleast providing good quality products, especially in food and medicine business need to be ethical.

    When I say food, I include, seeds and fertilizer industry too.

    Sri Vetri
    Spread Positivism

  • #629738
    I believe that ethics is needed in every dealing.

    People may gain temporarily from unethical practices temporarily. In the long run they will get exposed and will stand to lose only.

    We have to reap what we sow only.

  • #629740
    I agree with the opinion expressed by the author of #629738. This is the belief I also had. But these days by seeing the sufferings of good people and happiness of the people who earned a lot of money by illegal means I am losing my belief in that statement.
    drrao
    always confident

  • #629744
    In one old Tamil cinema a small boy steal a pair of banana from the shop and showed the father and father appreciated his work. Later on the boy grow bigger and his stealing also developed well with escaping tactics. In one situation the man caught hold by police and brought before the magistrate. After interrogation, the magistrate awarded him six month jail. The man(previously boy)told the magistrate to put his father also in the jail with him with the prayer that he would not become such a thief if the father prevented him from stealing the banana.
    Similarly the street vendor is a guide to business magnet and business magnet is a guide to street vendor, vice versa. If we punish by catching street vendor at least by boycotting his sales, such things would come down according to me.

  • #629766
    Yes ethics are required for wveey business, not only business for every organization. Non ethical business may get more profit but not for long run. If customer identifies the cheats done by the businessman, he may not buy from that businessman again.

    But if a business man follows ethics and do not cheat customers, he will get more customers and get more profits than the nonethical businessman.

    Regards,
    Ramya

  • #629975
    Yes ethics are required for business .In the long run, ethics will help the firm or the company to establish it's brand name and the loyalty.
    The greatest wealth in this world is mental peace and good health.


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