To say that ethics are important to business is like saying food and water are important to humans. It’s a given – anyone who has ever worked in business knows that practicing or ignoring good ethics makes all the difference in regards to a company’s survival. But given that ethics is such a broad field, what are some of the most important things to focus on? We’ve compiled a short list of what you need to know about ethics and how you can make sure to avoid potential pitfalls.
Accepting Gifts
After closing a particularly long and drawn-out business deal, it’s not uncommon for a gracious vendor to offer you something as a way of saying thanks. This is often one of the trickiest areas of ethics to navigate, as accepting a gift may cost you your job. Every company has its own code of ethics, and before taking anything from anyone you’d best make sure you’re up to date on all the particulars. No matter what your gut is telling you, you’ll want to make sure that you follow your company’s ethical philosophy to the letter.
Differences Between Generations
Even if you’re following your company’s code of ethics, you still might find that other co-workers interpret things differently. Many studies have shown how generations affect workplace ethics, with older employees taking vastly differing approaches toward these issues than younger ones. Boomers and traditionalists, making up the eldest members of our current workforce, often have a stricter adherence to rules and regulations than younger employees, who often have less experience with ethics and compliance programs. Understanding that differences in age contribute toward different understandings of ethics can help you resolve conflicts of interest before they begin.
Promoting Your Image
Perhaps the most important thing to recognize about good business ethics is that they can strengthen your brand’s image. A company well-known for its noble and just practices will find it easier to attract potential clients than one with a less than stellar reputation. While this may sound obvious, it’s surprising how many companies suffer from employee misconduct. A staggering amount of business scandals in recent years have revolved directly around this concept, with many international corporations alienating their customer bases due to employees being caught violating their ethical standards. Adhering to workplace ethics isn’t just good for your moral compass; it’s also good for business.
Regardless of whether you’re just getting started with business or are looking to advance your career, it’s important to make sure that you have a solid grasp of business ethics. While this might be a helpful list to get you started, online courses can give you some of the best resources you need to understand how ethics affect you and your career. Though you’ve likely been in the business world for a number of years, there is always more to learn. If you feel that WSU offers best online EMBA to suit your needs, then it’s time to get started.