Greetings my fellow entrepreneurs. It's good to have you here in this space.
How are your businesses going? I guess they're moving on smoothly. Mine is flourishing as well.
Today, I will be taking on making ethical decisions in business. The term ethics is not a new word. It's something we practice daily as entrepreneurs.
Well, I would love to give us a brief definition of ethics, before I proceed.
WHAT IS ETHICS?
The word ethics refers to the conduct of the people based on certain moral principles. It could also refer to the practice of being conscious of our actions, which could either be right or wrong.
**WHAT IS DECISION **?
A decision has to do with a choice made by someone, about a particular thing.
A decision is very important in evaluating some consequences of human actions.
**WHAT DOES IT MEAN TO MAKE ETHICAL DECISIONS **?
In my view, ethical decisions are the principles that govern how an entrepreneur should operate in his or her business. Ethics are inevitable in every business.
Any business entity that lacks ethical behaviors is about to fail.
It could also mean choosing or considering some values that contradict an organization's rules as well as society's.
Our societies have their own norms. They have a certain way of operating in their various communities.
A business organization is not an exception. They operate in the same dimension. The only difference is that the ethics that are required in business are broader than that of society.
I will be moving to five ways in which we as entrepreneurs, could make ethical decisions.
I'm going to explain it bit by bit as we continue.
The following, are the five ways of making ethical decisions in business.
First, ask questions to know if the business you want to embark on will be profitable. This seems to be one of the greatest business ethics I've ever known.
Remember, I said earlier today that ethics deals with the right and wrong behaviors toward business.
It is abnormal to start a business without inquiring from people who have been in that business for many years. When you ask questions, you understand better.
Never, ruin your business because of ignorance.
Always try to know your reasons for embarking on such a business.
Secondly, You must know if the products are sustainable or environmentally sound. This happens to be a problem for some newbie entrepreneurs.
How can you think of being an entrepreneur without knowing if the product you're about to venture into could sustain you? You must find out if products are often made or designed in a way that would suit the thirst of the consumers.
Then, if you make your inquiry about a certain product, you discover that the way other entrepreneurs package the products doesn't suit the thirst of their consumers, you would stand a better chance of making people believe in your product.
You must make the product look attractive and less expensive so the consumers can afford it for themselves.
A business environment is also important. You must consider the environment you want to site your business. You must know if the environment is populated, well secured, and above all, if the people around that area love such products. If, at the end of your inquiry, all this information is true, then you're good to go.
Thirdly, As an Entrepreneur, you must know if some legal bodies are entitled to the right to permit people before they can start a certain business. Such businesses require an agreement between an entrepreneur and the legal bodies.
Fourthly, You must get to know how fair the business you want to embark on is. If a business is not fair, that means there's something fishy about it.
Fifthly, The last thing I want to say is that an entrepreneur must know if it's right for him or her to do such a business. There are some businesses that each time you want to embark on, you will feel guilty before God and man. So if you know that your heart is judging you because of your line of business as an entrepreneur, please stop it.
Involved ethics in everything you do as an entrepreneur. This is what will help you to have a good business atmosphere.
I remain your favorite girl @joyben.
Stay safe.