The relevance of ethics for business
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The relevance of ethics for business

What exactly is the relevance of ethics for business? Good to Doctors, Dentists, Physiotherapists, Lawyers and Accountants etc. they are critical to the daily practice of your business and failure to apply them fully and correctly can and often does lead to censorship and even withdrawal of your licenses to practice. We have all heard of members who have been suspended for negligence. The doctor operating on the wrong patient, giving the wrong treatment, not paying enough attention to the accuracy of figures during an audit, overcharging clients for hours not actually worked.

All of these things are a violation of professional ethics, so what does ethics cover and how can you make sure you apply them to avoid censorship and possible suspension of your business and/or license to practice? First, make sure you are familiar with the codes of ethics for your particular business, which are usually issued by the trade association for your profession. Next, study the intent of the association in writing the code of ethics. An example would be the Canadian Bar Association’s Code of Ethics, which is particularly well written and includes concise descriptions and examples of how they see lawyers putting this into practice in their practices. They have also established an appeal procedure for the public to follow when they feel they have not been treated fairly by their attorney. This is quite typical of the best professions and is also emulated by those companies that perceive the rights and expectations of customers as an integral part of their business and something they must take good care of, if they want to receive repeat business.

Why? so you might ask: are there many companies and legal practices that ignore these rules in their normal business practices? That’s a good question and I’m struggling to answer it, there are several I can think of.

– The cost of educating staff and implementing the necessary controls.

– The need for good management control so that all staff comply with it.

– The fact that costs and prices can no longer be inflated to cover large business expenses.

– The perceived additional work that would be necessary to ensure that ethical practices are always applied.

– Harassing companies should explain all the rights and procedures they have to all customers to ensure that they are held accountable for their actions.

– The time that customers may need to understand the implications of the company’s wrongdoing can lead to higher costs for companies with poor ethical standards and controls.

The silver lining is greater clarity to the public as to what these specialists are really responsible for, that the public could hold them accountable for their actions, and that we would all know which were the “good” firms. In short, the relevance of ethics for business is greater accountability and better public awareness. Let’s hope that more and more internet marketers establish good ethical practices and make the public aware of them and the fact that ethical standards are being followed.

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