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How is ethics a hindrance in the success of a business?

edited March 2016 in Essay
i found this topic in The Hindu editorial...plz give some opinion
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Comments

  • You can run a successful business by following business ethics. All business leaders promote business ethics and good work env.. They are corporate frauds, scandals etc. but without proper ethics you will lose customer's confidence. Quality management lectures are given to workers, the best example being japan where quality management is top notch. Japan manufactured products are synonymus with quality. One of the reasons of successful jump of Japan from ruins to riches is help from USA. USA along with other aid sent quality management experts like deming to help Japan.
    All the major giants follow proper business ethics. A lot of companies are trying to reduce carbon footprint. Call it their hidden good guy, future profit agenda or ethics.
    Corporate social responsibility has several benifits. Just imagine the work env. and culture of your company is great. People would like work for you and working employees would like to stay. This is happening in case of google, german manufacturers. Foreign companies would like to invest in your company because they like how you do business. Plus there are several standardized certifications a company gets for managing quality like iso 9000/01 etc. If your ethics are not good, you get greedy, you'll risk quality for profits. You may profit in short term but in long run, without proper ethics, you are bound to be doomed.

    Note: In business, no one's hands are clean. Everyone gets dirt on their hands at some point or another. There are office politics, hostile takeovers, a board leader can continue for several years even when other board members don't like him, Lies, Stock gameplays. Everyone is unethical at one point or another. There are good people and bad people. Everyone with dirt on their hands.
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  • Ethics can bring in short term difficulties in business but to sustain in a long term ethics will help a business to prosper and grow.

    Take the analogy of a nation. You can have immediate growth by using all the available resources but then that won't be a 'sustainable development' just as CSR helps.

    The recent ban on Maggi noodles due to not mentioning of the monosodium glutamade face several losses and lost the respect for the brand which was since decades.

    A good example of a company following business ethics can be google. It provides a excellent workspace for it's employees which keeps their sluggish behavior outside the company resulting into more productivity.
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