How important are business ethics?

Re: How important are business ethics?

We have seen successful businesses fail, we have witnessed profitably running businesses suffer from a downfall and some seemingly effective corporates receive a great fall in their profits and popularity. One of the main reasons behind these surprising failures was the lack of business ethics. A true understanding of the right and the wrong and the ability to distinguish between them is ethics. Ethics is an important part of life and running a successful business is no exception to this. To become successful, a business needs to be driven by strong ethical values. The mindset of a businessman creates a mindset for his/her company, which in turn sets the work culture of the business organization. For a business to prosper and maintain its wealth, it ought to be founded on certain ethical principles. A business that is based on ethics can run successfully for long years. Moneymakers who do not heed to ethical values can only earn a short-lived success. To last long in the market, business ethics is essential.

Thanks.

Re: How important are business ethics?

It's interesting, becuase 99% of people will say that ethics is essential for running a successful business and keeping a good reputation. However, most Large businesses lack this basic moral qualities. That is why it's so important for us little guys to really keep our ethical code. It's what makes us stand out as different...

Re: How important are business ethics?

Hi

Are the small business valuation methods best used to conduct a business valuation on an entity established for the purpose of fulfilling a specific project, in certain startup and other companies where cash flow is more important than net income, and when a certain time frame is set where an investor wishes to see his investment returned over a specific period of time. In discounted cash flow, the present value of liabilities is subtracted from the combined present value of cash flow and tangible assets, which determines the value of the business.

Thanks

Re: How important are business ethics?

I think, for a business, customer relationship is of utmost importance. to gain a long-term relationship with customers and achieve customer return for the business, the business needs to be based on ethics. trustworthiness of a business, its customer service, its customer care, its way of dealing with customers and its urge to retain their old customers, is a part of the business ethics. business ethics leave a long-lasting impression on the customers and the impression on their minds builds trust.

Re: How important are business ethics?

It is important for all businesses to look how ethically they are running themselves. In today's economy I think that many people are looking for businesses that they can rely on, and that support the same beliefs and ethics that they themselves have. As more and more businesses understand this, and move towards working more ethically, I think that many good changes will occur in the small business community and larger corporations as well.

Re: How important are business ethics?

Because a violation of some business ethics, like SEC violations, are prosecutable, and adversly affect the stability of the business.

Re: How important are business ethics?

This is also important to shareholders because of the misconduct that threatens the wealth of investors. If one deals with the other wants to feel that we take care of people with a certain degree of honesty and scruples. This applied especially in the relationships developed in small businesses. Once it was considered important in politics.

Re: How important are business ethics?

Business ethics are most important for any business , it shows the status of business.

Re: How important are business ethics?

For a business to achieve long-term profits, customer relationship is of utmost importance. To gain a long-term relationship with customers and achieve customer return for the business, the business needs to be based on ethics. The trustworthiness of a business, its customer service, its customer care, its way of dealing with customers and its urge to retain their old customers, is a part of the business ethics. Business ethics leave a long-lasting impression on the customers and the impression on their minds builds trust, fetching a business more customers while retaining the older ones
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Re: How important are business ethics?

ethics is very important to have long-term business .Thank's for sharings this^^

Re: How important are business ethics?

Business ethics should be learned very properly.
These are very helpful to understand the business.

Re: How important are business ethics?

Business ethics are important because they keep business people to operate within a moral and legal pedestal which not only leaves them satisfied internally but also increases sales.

Re: How important are business ethics?

For a business to achieve long-term profits, customer relationship is of utmost importance. To gain a long-term relationship with customers and achieve customer return for the business, the business needs to be based on ethics. The trustworthiness of a business, its customer service, its customer care, its way of dealing with customers and its urge to retain their old customers, is a part of the business ethics. Business ethics leave a long-lasting impression on the customers and the impression on their minds builds trust, fetching a business more customers while retaining the older ones.
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