I remember when I was first introduced to business, we were educated by senior colleagues that business is all about integrity, respect and discipline. When we have these characteristics, we can overcome every challenge we face any day, anywhere. But growing up made me discover that business is far more than this.
Image by Gerd Altmann from Pixabay
Ethical considerations in business can be considered depending on he business; not all businesses are clean, so they use names to cover up their theft. For example, outsourcing companies in my country that recruit people after cutting 70% from the normal salary, all because they are outsourcers. The same goes for several other companies like that.
I have grown up to understand that when doing business, your personal profit matters more than anything else in the world. Life has taught me a lot of experience like this, and going to the market and buying things, also. Funny thing is, most companies that work for their own interest are more respected to last than the ones that pity people to work out. This is why I said this world is cruel, because wicked people tend to last longer than the normal ones.
Image by Gerd Altmann from Pixabay
Ethical considerations can only be made when trying to build the trust of your customers, and this is still for your own interest. I believe the only moment ethical considerations should be needed is when you work for someone or work under someone.
I have once worked as an Human resource to a Biscuit factory and trust me it was a whole lot of experience, the managers does not even care about how the workers feel all they want is more productions for their pocket, during my stay there, one of the worker Fainted and was almost giving up, this people did not stop production instead they kept on going and moving forward
Personally, I believe small businesses like entrepreneurship can be both ethical and profitable, but I don't think because big money, big movement, big risk, big doings, lol just kidding. Most big businesses are a result of either overlooked ethics from the foundation.
If I were to start a business, I would focus more on ethics than profit because of referrals; this is one way to attract people to you. This is why I said small businesses engage in more ethics because this brings trust between your business and the people patronising you also.
Ethics, I can say, is the foundation of most business and trust. Profit, on the other hand, can be self-centred, because anything can yield profit even though it is not ethical or has integrity. I have seen liars who have bigger patronising comments than people who sustain sincerity. Most people follow the wrong things just to sustain their level of success.
In conclusion, it's a hard balancing of ethics and profit because business is all about risk, and some businesses do not follow ethics but are still profitable.
This is my entry to #Hivelearners week 175 Episode 1