Don’t be greedy! Be ethical!

Today’s blog post is about business ethics. What do we mean by business ethics? Business ethics means of applying generally accepted principals to the actions and decisions of businesses and the conduct of their employees. It means understanding what is generally right, and what is wrong, to your business decisions.

Your employees may understand what is right, and what is wrong. But there are drivers of unethical behaviours that lead your employees to do the unthinkable – to be unethical!

What are the drivers you ask? Well, here they are!

1. Greed – Being selfish is the number one reason why employees are unethical. They peruse their own self-interest, ahead of the welfare of others. Not so nice, is it?

2. Pressure to meet company targets – Sales quotas, for example. The employee is very likely going to adopt a “do whatever it takes” attitude to make the standards the owner’s impose. (Or shareholders, for that matter)

3. Profits over people – Very common as well. Poorly defined value statements as part of a company’s vision, mission, and are partly to blame.

You may be reading this article and say “so what”. If I can be unethical and make money, I don’t care if my employees are greedy, are pressured to meet targets to generate profits. Well, think again. There is a business case for justifying why your company should be ethical. Here are the costs to your business operations if you are not ethical:

Viable for ALL To see Government fines, Civil law suits, lower share prices
Internal Costs Legal Costs, costs of corrective action
Intangible Loss of reputation, High employee turnover, Higher Recruiting Costs

Being ethical just makes good business sense. Do you feel greed is getting in the way of being ethical?

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