Ethical Issues That Affect the Success of a Business

Author: Belsheba Nyabwa

Ethics refers to a prescribed or accepted code of conduct. Ethical issues are a set of moral values that need to be addressed while carrying out business. Businesses operate in a society that is structured around moral values. Therefore, when conducting its operations, a business has certain responsibilities which are to provide the society with quality goods and services that will improve the people’s living standards.

In order to survive, a business needs to maintain its customers. Product packaging is one way of ensuring a business maintains its existing customers and also acquire new customers. Some companies are known to allow underweight packaging of products which are then highly priced and this is a rude way of increasing profits. However this negative trend will affect the business in the long run as customers will eventually come to learn that they are being swindled.

In an attempt to boost sales, some businessmen adapt promotional methods that mislead customers as the message conveyed may not give the exact details of the product.

Businesses should desist from increasing prices without valid reasons. In doing so, they will be taking advantage of the customer and this is unethical. Businessmen should also desist from taking part in corrupt practices such as selling low standard goods while bribing government officials in order to continue operating. Entrepreneurs should consider the effects of their activities on the society they serve.

In the long run, wrong dealings and corruption will tarnish the image of the business and have a negative effect on sales. Business people ought to comply with the law requirements and observe laid down principles of morality in their dealings. They should seriously consider expectations of the community they serve.

About the Author:

Belsheba is a business management expert. She researches and studies on big and small business strategies. Website: Business Management Solutions for efficient business operation.

Article Source: ArticlesBase.com – Ethical Issues That Affect the Success of a Business

Speak Your Mind

Home Free Trial Book A Speech Media Biography Blog Political Analysis Contact Disclaimer
© 2013 LGM Group LLC. The information contained herein is the property of McDonald Advisory, which reserves all rights thereto. Redistribution of any part of this information is prohibited without the express written consent of McDonald Advisory. McDonald Advisory is not responsible for any errors in or omissions to this information, or for any consequences that may result from the use of this information. This material is provided for information purposes only and is not to be construed as an offer to sell or a solicitation to buy any securities. Although this material has been compiled from sources believed to be reliable, we cannot guarantee its accuracy or completeness. All opinions expressed and data provided herein are subject to change without notice. This material is not intended to provide, and should not be construed as providing individual financial, investment, tax, legal or accounting advice.