Can Business and Ethics go hand in hand?

[coffee_kid]

Hello Guys,


This is one of the most debated topics in the business world. The existence or non-existence of ethics in businesses is a widely discussed topic. Let’s group up and analyze this topic. So, post your reviews on it.

Looking forward to a clean and focused discussion.

Thanks and Regards!

[joelblackbourne]

Unethical methods in business are adopted to beat the competition but company’s reputation and the goodwill of its employees should not be put on stake in doing so. There must be set guidelines to follow ethics in business, because sooner or later unethical people get caught, (enron, satyam are classic examples).

Keep posting your views!

[sovu]

for a successful business, ethics and business should go hand in hand .The business is a part of the society and we cannot claim our society to be ethical if our business is not.

But, at the same time business should be profitable and we should look at both sides of the coin to be competitive

[bizguy]

The fundamentals of business demand ethics at very juncture. Buisnesses and individuala cannot survive without a soul. The personalities such as Narayan Murty, Dr Varghese Kurien have made a mark by their ethical business policies. When you follow business society favors you and profits come afterwards. Earning money by cheating may be profitable in short term, but in the long run it only causes trouble. So it’s better to do business ethically and keep customers happy!!!

[hj0071]

When business and ethics are not tuned together, it leads to unforeseen accidents. For e.g. Bhopal gas tragedy, where corporate put up a huge fight against compensation to the victims leaving many more dead even years after the accident. Unethical practices were not only the cause of the accident in low investment on safety measures but also were the reason for trouble for thousands of compensation seekers.

[meqabuff]

Ethics and business are the two faces of the coin. Though, I haven’t seen people doing ethical business in real life. The above post gives example of Narayan Murthy and kurein, but how do you know they were ethical from day one? Bashing unethical businessmen without understanding the circumstances in which they worked is unfair. Entrepreneurs have to resort to under table tactics to establish their businesses. As they grow in market, they also grow in corporate and social responsibility,. But at the initial stage the only goal is to establish the business in corrupt and competitive environment.

They don’t say “survival of the fittest “just like that!!

[smitha12]

I think ethics is only sensible while the business is making profit. It makes no sense in making loss due to being ethical. Business and ethics can go hand in hand up to the time of profit making. But, the impact on the society should be studied before taking such a decision.

[BrazilImports]

Unethical practices in business is considered an art to remain in the competition. But definitely not at the cost of company’s reputation and employee goodwill. Ethics is definitely a part of business because sooner or later, people who cross the line go out of business.

[Wicked]

I think you are right, but what if everyone else is being unethical and we have to beat them in competition? We cannot just sit and wait for things to happen. What if the corrupt government system makes unethical practices imperative to survival?

[Orion]

Yes, in that case it will become a tough choice but still we will have to draw a line to unethical practice. Because we should know that how much is enough. I mean, after how many unethical actions we will say, ok that’s enough.