Benefits of being morally upright in your business

[Augusta]

We all agree that a business benefit is to maximize profit, but just because business needs to make profit doesn’t mean that we need to cheat or commit other immoral atrocities. Doing this in a business premises comes with its consequences. The truth is that you would gain more by being morally upright in your business.

The following benefits will be derived from being upright:

• You would have better and morally right workers: you cheat your workers learned same and begin to cheat on you too.
• Your company integrity will be on a higher level: you wouldn’t have to deal with customers talking down on your business. One’s integrity is always at stake when you are not morally upright even in a business
• The turnover for the business will be high: when once people know that a business is not likely to cheat, they will buy more and want to remain loyal customers. this in turn will increase the sales of the company
• Workers will be willing to stay with the company: with a good business ethics a lot of workers wouldn’t want to leave a company. This is because the workers will know the employer is acting ethical and dealing right with customers

What do you think?

 

[Token Academy]

Thanks for this help about benefits of being morally upright in business 😀

 

[Augusta]

Yeah, thanks for reading too, but you would have made your write up a little longer and key in your thought about what you know a bit about the topic. Well, i can see you are a new member, welcome to the forum but please add more words to your post. Enjoy the site

 

[Mika]

I think there is no such thing as being morally upright in business. Apple is the world's top company by market cap. The value of Apple is more than the GDP of Canada. Do you think Apple made this kind of money by becoming morally right? They are selling their product for a 100-200 percent profit margin. Bill Gates was once the world's richest person, how did he grow his company. By intimidating all small companies to sell themselves to Microsoft. You cannot be morally right and build a business empire at the same time. Business does not grow if you think of morality.

 

[funmi]

Your write up is very accurate. Why I said so is because am also experiencing this type of situation in my place of work. Being morally upright in what ever we do, whether big or small business is key.
Now back to my place of work, the old staffs I met there told me that our boss used to do very well for them in terms of payment and additional incentives before I joined them. In fact, I was told that they used to increase their salaries every year by around October or November or so. More so, every year, our boss do buy them gifts. I realized that this made our organization to have staffs that has been with them for more then 10years!. Right now, reverse is the case, so many staffs are leaving that organization for better places now. Including the new staffs too. No one want to stay long in that establishment again. That is why I said morally uprightness is very important. Now, the standard of our organization is falling gradually. Just because of that mistake or deliberate act of our boss.

 

[Augusta]

This always the problem when one stops being morally upright you would start failing at your business. The truth is that good virtue pays whether we want to believe it or not. it does. So the best is always to apply it whether In our company or using it in our business. being morally upright helps to progress with our business

 

[Jasmine]

Ethics and morality is very necessary. These are two things that will stop us from becoming demons. However, when you are doing a business, you may not always be able to be morally upright and ethically upright. Sometimes you need to take decision that is immoral and unethical but it will still help your business. For instance, you are running a failing business. Even though your business is failing, you still need to pay tax. Paying tax might be a financial burden for your business, in that case you might do something unethical (such as evading tax). If you have operated a business, you will understand I mean.

 

[Augusta]

I agree with you though we might think some things might not affect our business if we do not observe them to be morally right but it does pay to go through this route. You can just be a shinning example to others that it is always good to be mirally upright even in business

 

[Good luck]

To be morally upright in any organization depends on the employer and employee.It is a collective effort from both parties which must be must be played accurately.The owner of the company must be ready to satisfy the worker momentarily and with every other benefits that is needed to enhance the zeal of the worker to work diligently and effectively.

 

[Augusta]

Sure this is the working of everyone in a business or companies. The employer and employees must come together to be morally upright. This is like putting all hands on deck to push the business forward. This will bring about less cheating both on the employee and employers side and everyone will be at peace

 

[Deleted member 28127]

What we write is very good but when it is coming to practice we will find we can't practice it at 100% there will be some defaults on the business.

 

[Augusta]

I think this is more of a mindset if you set your mind at it you can achieve it. If you decide that you would be morally upright in your business, you would because you would be working towards only accomplishing that. So nothing is impossible here it is just to abide with the principle and keep to it.

 

[Kingsley]

Honesty

We all agree that a business benefit is to maximize profit, but just because business needs to make profit doesn’t mean that we need to cheat or commit other immoral atrocities. Doing this in a business premises comes with its consequences. The truth is that you would gain more by being morally upright in your business.

The following benefits will be derived from being upright:

• You would have better and morally right workers: you cheat your workers learned same and begin to cheat on you too.
• Your company integrity will be on a higher level: you wouldn’t have to deal with customers talking down on your business. One’s integrity is always at stake when you are not morally upright even in a business
• The turnover for the business will be high: when once people know that a business is not likely to cheat, they will buy more and want to remain loyal customers. this in turn will increase the sales of the company
• Workers will be willing to stay with the company: with a good business ethics a lot of workers wouldn’t want to leave a company. This is because the workers will know the employer is acting ethical and dealing right with customers

What do you think?

you really nailed it here, honesty is what really makes an organization to stand out because it will put confidence in the minds of it customers and all those that have interest in running business with the organization. A business venture is more likely going to make huge success when they make honesty their standard in terms of operations.

From experience we have witness the collapse of somany business venture that were operating dishonestly, initially it seem as though they were prosperous but with time they were no where to be found. Even as an employee it is advisable to be honest in the discharge of your duties and focus more in projecting the organization in that light.

 

[Alexandoy]

I don't think being morally upright is part of the business entourage. I know of many business owners whose focus is the profitability for their personal gain. If they pay their workers fair wages then their profit will be smaller. If they pay their workers for overtime work then that is also a deduction from the profit. It may be surprising to you that the rule in business is the profitability and morals are in the background. Why be fair when you can get more? That is the motto of most business owners. Even the owners of big business who do charity work, I don't believe what I see because they do the charity work only for show.

 

[eldavis]

When it comes to business today, alot of persons now have the mindset that it is normal and perfectly fine to loose their morals just so they can make more money, they see it as something impossible, hence when they see someone trying to do the right thing in terms of morals, they assume something is wrong with the person. One good advantage of doing the right thing in terms of business is that it builds trust amongst your workers and customers. It also creates a good reputation between you and them.

 

[Chibson]

Some people think it doesn't really matter to be morally upright as a businessman but the reverse is usually the case. People who are morally upright in businesses usually gain the trust of their customers and from there their business will be trusted by thousands or even millions of people. Even though, it doesn't really end there as being morally upright but with the right business strategy you will definitely succeed. Depending only on your uprightness to succeed in business may not really get you there but it is quite important.
There a lot of benefit that comes when you are a man of integrity in business and some of them are; your workers will love you and therefore will do anything possible for your business to be successful. Your product will be trusted and when that happens no matter the competition in the market people will always buy your product because when you say it is a very very good quality, you are definitely saying the truth. As a businessman it is also very much important you create awareness because being a man of integrity in business without creating proper awareness will not get the attention of people to patronise your business.

 

[Carpon]

Though being morally upright is good and has some few benefits I think it also has little to do with helping your business grow at a higher level. I know that for a small business operating in a little community where everyone knows everybody, being morally upright is good as people will trust you and the authenticity of your service and the goods you provide. For sure it helps you in such a condition.

But focusing on actually the benefits of being morally upright, you will as I said earlier gain more patronage owing to the fact that people know you as being of a good repute and trustworthy.
People will say good of you and by so doing attract more customers to you, your business and your work.

 

[Shaf]

You can choose to be morally upright not only in business, but in all your dealings with other people. It's well known though that most successful businesses do not become so by being ethical. The practice monopoly, tax evasion, manipulation the markets and consumers, buy out small competition and spend huge sums of money just to put their products and ads in front of consumers.

However, some tactics may be argued to be logical in business like purchasing raw materials in bulk at the expense of smaller competitors.

Being ethical in your dealings has its greatest advantage as trust. Take for example Coca cola. Over a century later and people still trust the products.
You also get more new customers since people will love to refer their family and friends.
If you believe in the hereafter, that's another reason most people chose to do good in hopes for reward, and it's actually calming when you don't always have to think of defending your wrongs.