How important are ethics in business and what are they?

Many of us understand the term Corporate Social Responsibility. For many, this is as far as we get to building “ethics” into our business planning and organisational culture. Ethics is all about doing the right thing, at the right time – for the right reasons. Many organisations will adopt a highly visible ethical culture on the basis that they know that it will raise their profile, appeal to their customers, and maybe give them a competitive advantage. This could be seen as doing the right thing, but is it doing the right thing for the right reason? How about doing the right thing because it is the right thing to do – regardless of the positive results coming back?

What form does ethics take?

  • Ethics can take the form of an ethical culture
  • Ethics can be rooted into the processes and procedures of an organisation
  • Ethics can be embedded into the culture
  • Ethics may result in some sacrifice or cost to an organisation
  • Sourcing ethical suppliers
  • Ethics may be departmental and within sales, marketing, finance, compliance and so on…

These are just some of the areas where ethics can have a positive impact on your business, those who work within, your customers, suppliers and the wider world. You may be an ethical business, but are your suppliers also ethical?

Ethics is a concept that runs deep and spreads wide. SquarePeg will be exploring ethics in business at the upcoming event in Sheffield. Expect some healthy debate and thought provoking ideas…

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