Ethical Issues That Affect the Success of a Business

Ethics refers to a prescribed or accepted code of conduct. Ethical issues are a set of moral values that need to be addressed while carrying out business. Businesses operate in a society that is structured around moral values.

Therefore, when conducting its operations, a business has certain responsibilities which are to provide the society with quality goods and services that will improve the people’s living standards.

In order to survive, a business needs to maintain its customers. Product packaging is one way of ensuring a business maintains its existing customers and also acquire new customers. Some companies are known to allow underweight packaging of products which are then highly priced and this is a rude way of increasing profits. However this negative trend will affect the business in the long run as customers will eventually come to learn that they are being swindled.

In an attempt to boost sales, some businessmen adapt promotional methods that mislead customers as the message conveyed may not give the exact details of the product.

Businesses should desist from increasing prices without valid reasons. In doing so, they will be taking advantage of the customer and this is unethical. Businessmen should also desist from taking part in corrupt practices such as selling low standard goods while bribing government officials in order to continue operating. Entrepreneurs should consider the effects of their activities on the society they serve.

In the long run, wrong dealings and corruption will tarnish the image of the business and have a negative effect on sales. Business people ought to comply with the law requirements and observe laid down principles of morality in their dealings. They should seriously consider expectations of the community they serve.