The problem with Business Ethics, and how to be more ethical By Dustin Sartwell The biggest forms of human interaction all involve exchanging goods and services in one form or the other: business. However, from the conscious cradle of man transacting and communicating, there has been the need for better business practice and inter-person interactions in business.
How do customers view my brand? How does my brand relate to the consumer? What drives people to my brand and vice versa…
Questions like this and a hundred others should be on the lips of every employer. There are flaws in the business models. And that is why brands and companies spend thousands of dollars trying to recruit HR, PR managers, Social Media marketers, brand influencers, and so on. So, why do companies have to spend so much trying to fix their public reputation and business? Decisions are getting more complex In previous years, it was easier and clearer to make business decisions. The market was smaller; the shareholders were more analog and moral. Now, the growing trend of trying to outdo each other, adaptation of technology, and maximizing profit is increasingly affecting business ethics. It goes from the mines in Africa to the poor labor conditions in Asia, and so on. As a result, business decisions are no longer as simple as they used to be. Prolonged legal battles Dustin Sartwell posits that the current business models, justice, and legal systems mean that business legal suits on infringements, bad practices, monopoly charges, and so on, can drag for years. When there is no prompt and adequate check on such business policies and ideas, the smaller company bow to high legal costs. It makes the bigger companies more brazen and unyielding in their disregard for business ethics. The play-ground is uneven The business model of this day is systematically uneven. While technology, IT, and Digitalization is trying to reduce the gap, the divide is just too significant. The current business models mean the rich and powerful business groups will continue to receive more but unfair market advantages and government patronage. In the end, it leads to the shrinking of smaller businesses, and the market is skewed.