Ethics is defined as a philosophical discipline, which studies good and evil, related to morality and human behavior. When we speak of business ethics, we refer to the branch that is in charge of moral issues in business activity. A company cannot only be in charge of selling a product, this ethics is decisive for its success, and without a business ethic you won’t be able to succeed in the long run.
This ethic is also linked to values, such as honesty, loyalty, respect and responsibility. These, in addition to having an ethical value, have an economic value, since investors who are interested in a business, it will be easier for them to entrust their capital to a company with good ethics, creating a good environment for all workers, and for the entire business structure.
What is the importance of business ethics?
It is important to establish an ethic in companies, since it is of utmost importance beyond the ethical sphere, but it improves productivity, makes our brand or company more attractive to customers, generates satisfaction among workers, etc. Everything this is achieved by correctly choosing the values of the company, implement them through integration strategies within the company.
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These communication and integration strategies, as well as better and closer communication with employees, will attract customers to our company. This ethic must come from the directors of the same, because in this way, they inspire everyone around them. This is thanks to the fact that they fulfill their commitments, promises and honor the agreements, inside and outside the company.
Even these ethical leaders benefit from the fulfillment of objectives, helping injured employees, reducing damages and increasing profits in the company.
In addition to motivating your employees, building trust between consumers and the company, a business ethic keeps it within legal limits, protecting that no crime is committed against its employees or consumers.
Benefits of ethics in a company
The benefits of ethics in the company also help to achieve the proposed objectives, being beneficial in economic aspects. Company operations benefit from this, even great workers are more accessible to ethical companies, which generate more dedicated employees and reduce recruitment expenses.
Ethics in a company brings with it an identification by its employees to the values it promotes, generating a shared value which makes employees feel identified with the company they work for. Ethics-based operations work best for a strong company, as it builds a healthy and enduring company in the long run.
Companies that give importance to ethics and social responsibility, pursue objectives where making money is one. It is not exactly the main objective, in addition, companies that are not motivated exclusively by profit, They do it more than companies do if they have money as their main objective.
We hope this article has been useful to you, it is important that companies take care of this aspect as part of their business plan. There is a department which is in charge of supervising compliance with ethics, which is the human resources department, where they manage the most important resource of the company, such as its employees.
This department helps employees, in their self-realization, maintaining a good work environment, and achieving the objectives of the company, through a mass of workers motivated by the company they work for.
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