Ethics In The Business World

The business world is growing every day. In my school, most of my coursemates are into different businesses. Some of them are into the jewelry business. They buy and sell jewelry at wholesale prices and sell it to their customers. Others are into fabric businesses, they buy quality fabric from the companies and sell it to customers.There are also those that are into unisex clothing businesses. In today's world, a lot of people are digging deep into digital businesses. One thing about the business world is that it is very dynamic. As one business declines, another one is coming up. I remember during my childhood days, those days when DVDs and discs were very popular. There were many disc sellers. I remember how I used to buy seasonal movies from them and watch them on the television using a DVD player. But today, that business is no more. Why buy discs when you can just download it online? I'm sure those who were selling discs at the time are now into other businesses.

One of the primary aims of a business is to make profit. Of course, there are non-profit organizations, but then even those organizations have their own cause. The sole aim of business, particularly those who invested a huge amount of money into the business is to make profit. I mean, if the aim of the business isn't to make profit, the owner could have just donated the money to charity instead of wasting his time and resources. Some business owners become really blinded by the desire to make profit that they totally forget about the other important aspect; ETHICS. When it comes to business, ethics and profit are both important. They both work hand in hand. If a business owner focuses solely on ethics and neglects profit, the business is bound to get ruined. Similarly, if a business solely focuses on profit and neglects ethics, it is only a matter of time before it gets ruined.

When it comes to business, which should come first? Ethics or profits? Should businesses prioritize ethics or profits while running operations? About two months ago, during my FYB week, one of my friends experienced the “What you ordered versus what you got” shenanigans. The occasion was Back to School. We dressed up like high school students that day. My friend ordered a back to school outfit from an online vendor. Before she ordered it, she showed me and I also saw that it looked really good. I don’t do online shopping, but she didn't have a problem with it, so I didn't bother trying to convince her. When the package landed, it was the opposite of what she ordered. The outfit looked nothing like what we saw in the videos and pictures.

My friend tried to reach out to her, but she replied that her business runs on a “no return policy.” After several calls, she blocked my friend on WhatsApp. This right here is an example of a business who prioritizes profits over ethics. In the first place, why would you want to deceive your customers all in the name of making profits? One of the reasons why businesses should prioritize ethics is that it builds a good relationship with the customers. Let me use my friend as an example. If she had gotten exactly what she ordered, don’t you think she would go back again to patronize? She would even recommend the business to her friends. Being ethical is one of the fastest ways to build a good reputation.

In conclusion, ethics and profits must go hand in hand. It is important that businesses strike balance. You are free to make profit however you want, but you must also be ethical about it.

Images in this post are mine.

Thanks for reading.