Ethics in Business are just a Passing Fad ?

Answer First


According to me Ethics in business Are most important. If we will do business without ethics it will give us Profit but for a short period but if we do our business with ethics it may give us small share of profit but it helps us to win trust of the customers. The first and the foremost motive of business is to satisfy a customer if we satisfy our customer and win there trust we will automatically make profit. So in my point of view Ethics are the most important element in business.



Answer Second

Basically ethics is the moral principal and values which determines the path for yourself as well as society.

 The main objective of any business is profit and profit can't be earn without the trust of customer toward us. May be unethical practices can provide you instant profit but can't give you long term remain. For example 2G scam, common wealth scam, satyam scam etc. is the result of unethical practices. Without the ethics a person is like a body without soul. TATA is known for trust because he always follow ethical practices once the adoption of unethical practices can eat all your goodwill so the key element behind any organization's success is ethical practices.




Answer Third

It's truly said that if you want to walk quick, then walk alone. But if you want to walk far, walk together. And this togetherness is not just about persons, it's about the ideals, conscience and above all humanity. Yes, profit is the main motive of doing business, but can we be sure that profits which we will earn at the expense of exploiting, oppressing and cheating others won't come to haunt us again, may be sometimes later? The ethics followed in business will always be the most important. Why we want profits for? for fame, for family. Can we be able to say our children and wife in their face that I am clean. What will you do when your child who is made to believe in his/her childhood that honesty is the best policy and look upon you for a model? what for, then? bad practices can make quick money but it's also sure that it would be taken ever more quickly again. Great giants like harshad mehta have fallen in this trap and lost their everything. Will we be able to face ourselves then?



Answer Fourth

Ethics and business never go hand in hand.

According to my knowledge no business is undertaken purely on ethics. If you have to achieve higher position in global market then you won't be able to survive only with the help of ethics. Some healthy business tactics should be implemented. But I won't say that it should completely avoid ethics. The best example is of satyam group of companies. They were listed in top I.T. Companies. But when their chairman Ramlinga who practiced unethical way of conducting business is now in the jail.

So what I meant to say is ethics is important for the companies good reputation. But only ethics won't be able to take the business to a higher position. So I conclude by saying that the businessmen should wisely use his brain in making profits and by gaining good reputation which obviously requires good amount of experience.