Business And Finance
Posted by Amit on 23, Jan 2010
Business principles are interesting branch of business theory, mostly because of the fact that they are inherently interesting in a market economy. People tend to be extremely distrustful of corporations in market economies and the bigger they are, the worse that problem of trust usually gets. Business ethics therefore are politically charged in many different circumstances and that in turn serves to make them interesting. Aside from this academic interest however, business ethics are also important for a company and its success. Here are some ways in which this is true. It is impossible to discuss business ethics as a branch of academia without taking a look at the relationship between business ethics and public image. Each corporation has a particular public image, which represents the way in which the public views the corporation. Wal-Mart, for example, has a terrible public image. Toyota, on the other hand, has a very positive one. These public images are the result of a number of different things, but they are primarily the result of the way in which a corporation acts with respect to the different things around it.
A corporation's green policy, the way they treat their employees and the way they treat the communities they exist in are all part of their overall behavior and this in turn is the principle factor in determining their public image. As proof of this, you will notice that even though Wal-Mart makes products that have a decent quality and an extremely low price, they still have a negative public image. Since public image is largely a result of company behavior, business ethics play a large role in determining public image since they determine behavior. And public image is important to success in most cases, which is one of the reasons as to why business ethics are important to a company's overall success.
Comments
Admirable Business Ethics
In my opinion one of the most important attributes for small business success, is the distinguishing quality of practicing admirable business ethics. Business ethics, practiced throughout the deepest layers of a company, become the heart and soul of the company's culture and can mean the difference between success and failure.
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----------------------------------------------------------------------------------------------------------Investment and business ethics
Investment is most definitely important to success. A company that would like to encourage extra investment, is a company that has a strong sense of business ethics. Part of business ethics is responsibility to the investor and for that reason companies with strong reputations in the field of ethical business behavior are also companies that tend to attract more investment from people that are new into the market.
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----------------------------------------------------------------------------------------------------------Beside money matters
Beside money matters, the success of a business generally depends on three things - quality of products, quality service at earliest possible time and customer support. Your post effectively put light on the business ethics. And it appears as helpful. Thanks for sharing.
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Thanks for sharing your view on such a nice and important business topic. In most of the cases, it is found that the first generation companies suffers from inadequate financial support and have to shut the businesses down. So, it's better to settle down all the financial matters before starting a business to confirm strong financial flow.
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In the business world, joint ventures happen all the time. They happen all the time because they are ultimately of great importance to the bottom lines of businesses. If you want your company to do well in joint ventures, then you need to have good partners. The only way to get good partners is to have a good reputation both in terms of a track record and in terms of your business overall. And of course, the best way to get a good reputation is to ensure that your company has a strong tradition of ethical business behavior.
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