It is possible, and necessary, to achieve a profitable business through sustainability and business ethics.
Business ethics is an expression that encompasses the moral principles, values and norms that characterize the actions of a company . By applying them in corporate decisions and multiple activities, the firm reveals an environmental commitment that is reflected in respectful actions towards the natural environment and a clear intention to proceed positively on both a personal and social level.
If corporate business ethics are not adopted, implemented and defined, there is no moral support, policies that promote good performance and treatment, or regulations that show predisposition regarding ties with hired personnel and clients. Thus, then, when there are no ethical businesses , business realities arise linked to the lack or insufficiency of security measures, an unstable and poor quality of work life , abuses of power , injustices and acts of corruption .
Basic principles of business ethics
The basic principles of business ethics revolve around equality , respect , responsibility , transparency in management and integrity .
Instances of dialogue must be contemplated as well as providing freedom and demonstrating solidarity and empathy so that, on a day-to-day basis, employees in each area enjoy a pleasant, comfortable and motivating work environment. Consumers or clients, meanwhile, also deserve to be cared for through clear, effective and conclusive provisions. The community as a whole, on the other hand, benefits when, for example, a brand or corporation supports a cause of social relevance with donations of money, services and/or merchandise.
To generate trust and give security to users, for example, it is essential to draw up a solid personal data privacy policy , as well as the development of a strong organizational culture linked to a code of conduct that reaches all the people who are part of The company enriches the corporate structure because it marks a path of values, discipline and commitments.
Legal compliance, adapting the development of the business to state regulations so as not to break laws or evade taxes, is another of the foundations of business ethics .
Teamwork is key to the growth and success of a business project.
Corporate Social Responsibility (CSR)
Corporate social responsibility (CSR) should be implemented in every company, whether small businesses, growing family businesses or mega-corporations, in order to improve the world and simultaneously access certain advantages.
It is a voluntary commitment that guides the efforts, management, strategies and actions of a firm to achieve both a balance and solutions at an environmental, social and economic level. This type of investment helps minimize possible risks that could jeopardize the business, enhances corporate reputation, promotes customer loyalty, improves the company's image and provides tax relief.
Over the years, business models or concepts have appeared that take into account all the aforementioned aspects. The so-called triple impact companies , also known as B companies , aspire to make profits without neglecting the social perspective or care for the planet.
The commitment from the business sphere to environmental and/or social issues leads to the emergence of socially responsible companies that work in such a way that they form positive footprints.
It is exciting to see that more and more organizations and companies are feeding the circular economy system based on a circuit that starts with production , continues with consumption , continues with waste management and perpetuates the cycle with the recycling and reuse of waste that, In this framework, they once again are inputs so that the productive wheel continues turning and a philosophy of responsible consumption is established worldwide.
The use and reuse of resources benefits companies, consumers and the environment.
Practical scope of business ethics
The practical scope of business ethics is observed every time in the commercial exercise of a venture or a brand one acts with ecological awareness , teamwork is prioritized and each measure or activity revolves around business values that combine innovation , growth , leadership and quality with sustainability , respect for human rights and the development of fair labor practices . In this framework, non -discrimination policies , among other regulations, are implemented.
When business ethics govern, it is possible that the success and positive transformation of a business is achieved through diversity and inclusion , responsible innovation , training and development .
Business ethics goes hand in hand, even, with the establishment of ethical and responsible supply chains that value the dignity and rights of workers and give opportunities to suppliers who share the corporate philosophy, to list a few characteristics.
How, on a day-to-day basis, can a company demonstrate ethics and commitment to caring for the environment ? Achieving a reduction in the carbon footprint generated as a consequence of corporate operations or adapting to the parameters that characterize so-called green businesses , for example.