An optimally ethical environment for a business is created by fostering good qualities in the employees of the business and all the related entities. Three of the best ethical principles that have to be fostered in a business are respect, integrity and excellence, which, when combined, give the business a good ethical outlook.
Respect in a business refers to the relationship that the employees have within themselves and to outside stakeholders like the clients or suppliers. Respect is chosen as an ethical principle since it ensures that the employees perform their duties while understanding the needs of the clients and their colleagues. Respect fosters good business since it ensures that clients always return to the business and attrition rates are reduced.
The second ethical principle is integrity, which refers to the motivation of an individual to perform according to laid down moral values including trust.
When integrity is emphasized in a business, it fosters good business since it ensures good relationships with clients and builds customer loyalty.
Finally, excellence is an ethical principle that should be emphasized in a business. Excellence is simply the ability of an individual running a business to perform their duties to the best of their ability given current resources. When excellence is emphasized, it means that the business will perform to the best of its ability and will always be successful. If the three ethical principles mentioned above are adhered to, the business will be able to build loyalty to the customers and ensure that good business is fostered and encouraged, which will in turn ensure that profits are made and kept.
