There are all kinds of companies out there that claim to have the best-trained individuals on the planet, like those individuals with their Masters Degree, or those with business ethics 101. The philosophy of business also deals with questions such as what, if any, are the social responsibilities of a business; business management theory; theories of individualism vs. collectivism; free will among participants in the marketplace; the role of self interest; invisible hand theories; the requirements of social justice; and natural rights, especially property rights, in relation to the business enterprise.
Much has been written about transparency in public companies and governments, but even with the importance of trust in all business transactions and relationships, little is published about how to use this trust building mechanism to improve organizational performance at the operational level.
9. Business Ethics are values-based. However, some ethics are universally maintained by businesses and their breach is almost like a legal offense. While there may be “newcomers” to embracing ethics in business, ethical and responsible conduct have always been the standard at many companies.
Unethical businesses can be profitable on the short run, but can never be truly successful. At the same time, however, you should also try to come up with an innovative marketing strategy that will work for your purpose. Ethics involve what’s going on outside the company walls, like the environmental footprints, and the way you handle your obligations in the community, with your customers, and even with your vendors.
Your company ethics also apply internally to how you treat your employees and contractors. In their July, 22, 2002 publication they provided statistics that supported America’s mistrust toward the increasing number of companies who were deceiving their employees and the general public through white collar crime.