Can business and ethics go hand in hand?

Question

I can't see a business being run successfully for a long duration without any compromise on the ethics part. Kindly comment coming up with examples.

Answer 1

You wonder if any of the millions of businesses that make up America are ethical? Ethics to a business is looking out for its own best interest without interfering with others and making a profit. Most do that quite well.

When a business' best interests and your own best interest are not mutually served, it is time to move on, not vilify its ethics.

In 1900, 80% of the population was self employed and tax was about 1%. Today, taxes are 30%, plus businesses are forced to provide benefits, unionize, send all their employees to tolerance classes, and must appear before congreess to answer to a bunch of barely sober, self aggrandizing, pompous idiots anytime they make a profit. Then business owners have to spend half their lives hearing presidential candidates brag about taking their profits or imposing more regulaion or raising their taxes...

It is a wonder that anyone even finds it worthwhile to go into business in America. If you have a 401K plan, any mutual funds and a job, try saying, "thanks".

Answer 2

You have to have ethics in business and people who compromise their ethics to make money generally come undone!! If you have a strong reputation based on honesty and ethical behaviour - thats worth its weight in gold - people will deal with you. Why you ask because people only buy from people they like - it does not matter how good the product or how cheap - they will buy from the company whose individuals demonstrate honesty and ethics. A company that is not upfront, takes advantage of people when they can and the sales people generally give you the impression of a rat looking at your lunch wont succeed in the long term. Look up some companies and their views on business and ethical ones have a long life where the sharks just dont.

Answer 3

Ethics are defined by convenience of the individual. What do you consider ethical for money?
1) Should you hire someone who know is dishonourable to the extreame if they can earn you money? Keep in mind that money can help build your business which in turn provides a wage for your employees.
2) Should you lie and cheat your best friend to save money? Again, that money could be saved for future investments to secure your company.

Personally, my ethics are defined by my ability to look myself in the mirror. If I can, I am ethical. If not, I must change in some way.

Answer 4

considering that warren buffet, the most successful investor in history, holds business ethics in the highest regard and has unblemished history in running his businesses I would say absolutely yes that they can go hand and hand

I would also say that most businesses do in fact operate ethically for the most part but you will never hear about that as it just doesn’t make for good newsprint

Answer 5

if all businesses were run on strictly ethics, perhaps then they could coexist, but even then it is unlikely. if you put too much compassion into business, you will end up making poor business choices. in business, in order to be successful, you have to put all of your effort in to the business itself - you can't get side tracked with ethics and feelings. not everyone is going to play nice with you.

Answer 6

it should not be a problem it depending on what business it is and what country it is I understand taht korea is a good place to do business because their market is bad and everything form American product are expensive 5 times more than the retails price in usa so you can probably do business with the koreans.

Answer 7

Yes you can as long as you are ethical and not greedy.