How important are business ethics?

Re: How important are business 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.

Re: How important are business ethics?

The best way to promote ethical behavior is to establish a good personal example. The teaching of ethics for employees is not always effective. We explain and define the ethics of an but understanding why ethics have lead to ethical behavior. Personal values and ethical behavior is taught at an early age by parents and educators.

Re: How important are business ethics?

Arlen;53919 wrote: 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

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?

Business ethics are important but are difficult to enforce. I am a member of a professional organization with a defined ethics policy in it's bylaws. there are complaints of ethics violations against 3 members but no one wants to sit on an ethics committee for fear of incurring personal liability. It' a ridiculous situation mired in politics and fear of reprisals.

Re: How important are business ethics?

This is also important to shareholders because of the misconduct that threatens the wealth of investors.
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