"Ten Principles of professional or business ethics by Dr E. Humbert"
There is no real difference between doing what is right in business, and playing fair, telling the truth and being ethical in your personal life.
Business ethics is based on fairness. If both sides negotiate in good faith and carry on the transaction in “level playing field,” then, the basic principles of ethics are being met.
Business ethics requires integrity, which means wholeness, reliability and consistency. Ethical business practices treat people with respect, honesty and integrity. They make one keep up commitments.
Business ethics requires adherence to truth. The days when a businessman could sell a defective product and hide the “buyer aware” defense are long gone. Truth in advertising is not only the law; business ethics require it.
Business ethics requires dependability. If your company is new, unstable, about to be sold, or going out of business, ethics requires that you let client and customers know this. Ethically run businesses can be relied upon to be available to solve problems, answer questions and provides support.
Business ethics requires a business plan. A company’s ethics are built on its image of itself and its role in the vision of the future and its role in the community.
Business ethics applies internally and externally. Ethical businesses treat both customers and employees with respect and fairness. Ethics about is respect in the conference room, negotiating in good faith, keeping promises and meeting obligations to staff, employers, vendors and customers. The scope is universal.
Business ethics requires a profit. Ethical businesses are well run, well managed, have effective internal controls and clear expectations of growth. Ethics is about how we live in the present to prepare for the future (or a plan to create them) is not meeting its ethical obligations to prepare for the future well being of company, its employees and customers.
Business ethics is values-based. The law, and professional organizations, must produce written standards that are inflexible and universal. While they may talk about “ethics,” these documents are usually prescriptive and refer to minimal standards.
Business ethics come from the boss. The leadership sets the tone. In every area of a business. Lower level staffs always rise, or sink, to the level of performance they see modeled above them.
Ethics, ultimately, is about the quality of our lives, our service, and about the bottom line. Treating employees, customers, vendors and the public in an ethical, fair and open way is not only the right thing; in the long run, it is only way to stay in business.
Ketan Mavani (Director)
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