At its simplest, ethics is a system of moral principles.
They affect how people make decisions and lead
their lives. Ethics is concerned with what is good for individuals and society and is also described as
moral philosophy.
business ethics refers to the standards for morally right and wrong conduct in business. Business
ethics inform a company's values and goals, as well as how it runs its day-to-day operations.
As such, ethical values are the building blocks of any startup. They can be critical in determining how
a company deals with certain situations and how it handles internal and external issues. Values help
business leaders stay aware of temptations and prevent lapses as the business grows.
There is a need to communicate ethical standards to everyone concerned, including partners,
employees, and customers.
When you are to become a entrepreneur, you should be able predict different ethical issues in the
day-to-day setting in your workplace. This generate and sustain trust; demonstrate respect,
responsibility, fairness and caring; and are consistent with good leadership among your team
By doing such, entrepreneurs could be able to acquire new skills and knowledge on certain thing.
Thus, it helps to develop a good business planning. Ethical issues in business is inevitable but an
ethical entrepreneur should Maintain an open door policy and be willing to discuss ethical questions,
in an open-minded way within his/her team in order to come up with an ethical solution in resolving
issues in his/her business.
This is particularly important in the digital world, where opportunities to be not-quite-ethical abound.
Be aware of, and take a consistent and early stand against, anything that violates your ethical
standards. individual's personal interests should not conflict with the professional interests owed to
their employer or the company in which they are invested.
Busy lives can mean things slip from people’s memories. Reinforce the need for maintaining ethical
standards, especially when new people arrive. Because it is highly important for everyone in your
team to develop ethical values in day-to-day work.
A reputation is a valuable asset to the entrepreneur or the company as a whole, and can be damaged
by employees who do not adhere to a company’s standards. So it’s better to remove them from your
team.
Find ways for the company and its employees to engage in community service and emphasise the
importance of each team member’s families. Such for example, sa karon like in getting Driver’s
Licence, need pa mukuhag Theoritical Driving Course and Practical Driving Course. So some Driving
school company muvisit ug places or barangay to make the people avail it for a lesser price. So diba
they find ways to engage their company to the community
As the venture grows, and as the world changes (especially as the digital age progresses), keep
refresh the commitment to the ethical guidelines, and prepare all involved for the changes that will
inevitably happen.
Customers are important because they drive revenues; without them, businesses cannot continue to
exist.
Kay diba of course, Customers will find products that they think worthy to buy of and what
products nga nindot ug quality but in a fair price.
Examples of this is warranties nga more or less 1 year coverage
This talks about your product labels. Having an honest and fair information about your
ceratin product are strongly emphasized in the Consumer Protection Law most especially in
the Chapter two that talks about dood, drug, cosmetics and devices. Kay of course, whatever
happens to your customer after using or consuming your product will be your responsibility.
So dapat responsible ta in giving informations to our customers
Monopoly is the possession of supply, production and trade of product that can harm
consumer interests because there is no suitable competition to encourage lower prices or
better-quality offerings.
The workforce is essential to provide goods or services that the company offers. But they are
often overlooked or neglected, and most companies do not view them as valuable assets
A training program gives everyone the opportunity to strengthen those skills. This helps
ensure that everyone on your team is up to par and can perform their job day in and day out.
With habing good working conditions and working facilities will result for them to be Happy
employees that are more productive and more focused, which enhances their performance
and leads to better customer treatment, fewer sick days, fewer on-the-job accidents, and less
stress and burnout.
It promotes self-respect, pride and self-worth, influences an organization's ability to foster
wellbeing, and drives productivity and sustainable business results.
It is really a must to give our employyes fair and good compensation because as what I’ve
said earlier, they’re the wealth of a business. How could a business run without them? They
deserve to have a fair wage based on the amount of work they did for the company
Corporate environmental responsibility is usually defined as an approach in which governments
can include environmental matters into their tasks to eradicate waste and discharges, increase
the effectiveness and output of their assets, and reduce practices that severely affect the
country's natural resources.
Not only does organic production help reduce public health risks, mounting evidence shows
that food grown organically are rich in nutrients, such as Vitamin C, iron, magnesium, and
phosphorus, with less exposure to nitrates and pesticide residues in organically grown fruits,
vegetables, and grains when compared to conventionally grown products.
The Fairtrade provides better prices, decent working conditions, and fair terms of trade for
these farmers and workers, allowing them to have a more stable income to afford basic
necessities.
Community involvement is a social responsibility that is an easy and effective way to increase
brand awareness, establish a positive reputation, and grow your business. Plus, it allows you to
establish meaningful connections and give back to those in need.
Sodexo is a multinational food services and facilities management corporation. The company
is especially noteworthy due to its SOAR program, which stands for “Sodexo Organization of
disAbilities Resources.” This group provides disability awareness training, as well as serves to
hire and retain employees with a disability.
Entrepreneurs wshould take responsibility for his/her actions and results in his own company or
business because only if we recognize our responsibility for the acts and consequences, we will
have the ability to improve, move forward, and achieve success.
