7 Important Business Ethics You Should Follow

in #business4 years ago

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Do you remember Charlie Sheen from the movie Wall Street? A young stockbroker Charlie in the movie is ready to do anything to escalate the corporate ladder. He's even ready to trade the confidential information of his company to get to the summit.

It is not surprising to hear that every year new scandals tend to expose companies of their unethical practices. Even big giants get hooked to the bait in the chase of getting an edge over their competitors.

But in the mire of unethical companies, there are those who keep a good way and follow business practices teaching us some timeless values to follow.

Trust

Trust is the assured reliance on the character, ability, strength or truth of a person or business. We like to keep relations with those who count high on our trust. This is same with business clients. Trust is the very core principle of business ethics and is a secure knot that binds you with your clients and business partners.

Be ready to listen from others

Always be open to reviews, criticism, customer queries and implement the values that you learn from them in your business. People like to work with those who are ready to listen to them. So be ready to take inputs from others as that helps in building a good relationship.

Fulfill Commitments

If you cannot fulfill a particular commitment, don't give it in the first place. Let your yes mean Yes. Once you've given the word, do all that you can to pay your commitments.

Be a Contributor to Community

In a me-first world contributing to the community will not only enhance your brand image but also it will nurture volunteer spirit among your employees. Find the joy of giving others, and you will undoubtedly receive its reward.

Keep transparency in Accounting Practices

From the initial start keep your accounting practices revolved around good ethics. This will not only keep you safe from scandal free and questionable conduct, but it will also ensure success in your business.

Treat others with Dignity

Apart from all the differences treat others with professional dignity. This is an important attribute in business development. Keep in mind that business development is a complex process and requires collective efforts. Treating others with dignity is the key aspect of it.

Protect your customer's information

Time and again the world has seen that those who trade their consumer's information have reaped its consequences. Handle customer information with utmost care because customers are the ones who make one of the pillars of your business.

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