Why Ethics Matter
Monday, January 31st, 2011When considering how to increase your sales and earn over a bigger part of your market, ethics may not be the first thing to reach to mind. And perhaps it shouldn’t be the first thing, either, but it certainly ought to effect a decent place in your list. First of all, let’s lickety-split interpret what I’m talking about when considering ethics from a business point of concept. It can include;
â?¢ Fair trade
â?¢ Equal rights (for ethnic minorities and women within the company)
â?¢ Carbon neutrality
â?¢ Eco-awareness
â?¢ Community relations (e.g. giving encourage to the town/s in which you are demonstrate)
There are of course further aspects, but the above 5 beget out the foundation. Taking a stand, as a business, and publicly showing your commitment to all or any of the above ethic areas will have a determined finish on the arrangement your organisation is viewed by society at broad. An estimable example of this principle can be found in The Body Shop who famously made an wonderful impact on the world of cosmetics with its lovely trading policies, and swiftly grew to become one of the major players in its market (however it has since been bought by L’oreal) .
Even if you don’t determine to engage a firm stance and acquire ethics one of your main selling points, completely ignoring it can be incredibly terrible for business, especially if your main competitors engage a different arrive. In fact, ethics and morals have brought entire markets to their knees; fur trade, for example, has been severely damaged by the lack of ethics eager. This is not a rule without exception, of course, as aptly demonstrated by Ryan Air who, while one of the biggest airlines in Europe, are notorious for their complete disregard of ethics.
Further, it is very notable that you are aware of the differing ethic priorities in different markets. What is OK in one country may be very against general acceptance, or even the law, in another. As such, always research ethics before entering a fresh market.