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Why is ethics important in business?

by Sourav

For most people, money travels around the world and companies take it. Entrepreneurs can do anything to achieve the ultimate goal of running a business and that is to earn an income. Net profit or income is financially a surplus of sales or income after deducting costs and expenses. Whether you are in a profession, a job, a job or a trade, you are in a business and talk about income. You are taxed when you earn an income, which is the worst nightmare of everyone who earns an income. Income tax is your punishment for doing good in business. While this may seem ridiculous, the reality is, you pay when you win. Failure to do so, as the tax is constitutional, will result in crime. There are already billions of liars around the world known as the Income Tax. Some governments have already imposed heavy taxes on businesses. Others are already making tax laws that go beyond the ability of taxpayers. However, these facts should not lead to the existence of a large number of dishonest people in the world.

Business ethics are rare today. Perhaps this is because most people will make a profit without the need for business ethics. I do not agree with this. The word ethics is derived from the Greek word ethos, meaning “character,” and the Latin word morse, meaning “custom.” According to the encyclopedia, ethics is the branch of philosophy that defines what is good for the individual and society and confirms the nature of the obligations or duties that people owe to themselves and to others. If you define profit or income as money, then ethics is not necessary for profit. But deep down, business is not just about money. Yes, it is definitely for profit but profit is not just a financial advantage. We want profits that do not only support our pockets or our stomachs. We also want the profits that feed our hearts and our souls. Since we are great business people, we must focus our minds on this principle. We need business ethics to make these high value earnings. We must be concerned about the quality of our character and the common good.

What are the 8 principles of ethics in business

  1. Honesty
  2. Integrity
  3. Promise-Keeping & Trustworthiness
  4. Loyalty
  5. Fairness
  6. Concern for Others
  7. Respect for Others
  8. Law Abiding

Your business can be not only for the survival of your life on earth, but also for the survival of your soul. If you are in business and own a business, you can help your employees by providing them with adequate pay and other benefits that will improve their lives. You can be honest and pay your specific tax to the government and ultimately use it for the development of your country. (Assuming your government is not direct and corrupt) But never mind, be honest, even others are not. We are talking about the existence of your soul, not their existence. You can serve your customers by providing them with their needs and comfort. Customer service is as important to your customers as it is to building trust and public loyalty to your company. If you build infrastructure for your company, you will contribute to the development of your location in terms of buildings and infrastructure. When you have business ethics, you train a fair business competition. Fair trade competition is a challenge for every company to improve the quality of their products and services and the end result is for the customers.

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Doing business with a clear conscience means doing business with a good night’s sleep. He also does business with joy in heart and soul. Gratitude will come to you and if you do business with ethics you will become a stress free entrepreneur. These and other spiritual benefits will come directly to you and the good thing here is that you are not taxed for these types of benefits. As an extraordinary entrepreneur, you do not keep your long-term goals for 10 years or just for life. You need to consider eternity and set goals to achieve benefits that will benefit your soul. You want eternal earnings, earnings that will give us eternal life and happiness, and earnings that will earn you the key to heaven. Since God is great from beginning to end, these benefits will benefit us in the short, medium, long term and eternity.

Do trust in God. Building our deeds in God’s place is like building them on rocks on big foundations. We are kind and grateful to our employees for their best assets. We will give them bread and they will give us a ham sandwich. We are very careful with our customers because they are our best revenue generators. We provide them with good prices, high quality products and the best services. They will give us their respect and loyalty. It is fair to our competitors. We present to you a fair game, that will give us the true meaning of winning. We thank God Almighty for being our best business partner. We serve him. Then it will give us joy and peace.

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