12 ethics principles for a role model business

“Business ethics – It is a fight worth fighting for” – Alan Lowne

We ended last week’s article after talking about just four of the 12 principles for a role model business. Even if those four are the base of business ethics and the most important principles there are eight more that define with more details the image of business ethics. We continue our journey in the business ethics world today covering the remaining principles.

            Fairness. We all know the term fair-play; most of us are familiarized with from sports but why not in business too? Fair play doesn’t mean lowering your standards to give the other one a chance but it means to ensure both of you play on the same field by the same rules to the best of your skill level. Fairness states that you should treat your partner, competitor or your employee the same way you would want to be treated. Life isn’t fair, we all know that, but that doesn’t mean we don’t have to be fair either. The journey to ethical business is hard but the rewards make it worth the trip. “Being good is easy, what is difficult is being just.” – Victor Hugo

            Caring. Demonstrate compassion and a genuine concern for the well-being of others. Care about the environment because it is where your future life and the lives of others will take place. Care about the people around you and you will be rewarded accordingly. You must always have in mind the people affected by your business or financial actions and consider their interests before making those actions. Get involved in CSR programs as often as you can and focus on the new generation and help building a world in which you want your children to live in.

            Treat everyone with respect. You should build your business so that you get the respect of your partners. And the first step in doing that is to respect them. Respect is an attitude of admiration and esteem but respect should not be confused with tolerance. Society all around us is losing in moral quality from different reasons such as teachers trying to be children’s friends, don’t make the same mistakes with your partners. As alexander dumas once said “In business, sir, one has no friends, only correspondents”.

The perfect answer to an aggressive and abusive conversation partner will be: “I will treat you as a gentleman not because you are one but because I am one”

            Obey the law. This comes to strengthen the fairness principle. Laws are rules that everyone is supposed to respect, to go by. Not obeying the laws of the country you are conducting your business in has more than one side effect. First one is that if you get caught you will go to jail or receive some other punishment. The other important side effect is that your reputation will receive a big hit, for the ethical businessman you wish to have as partner you will become a pariah

            Pursue excellence all the time in all things. Your goal should not only to build a successful business but also to become better and improve your products, services and yourself all the time. You have an obligation to others to try every day to improve what you offer to them and improve their lives to.

            Leadership – Exemplify honor and ethics. Lead by example is the best way to make someone follow you. You worked so hard to make your company a role model in your industry and this is the time to influence others. As long as you keep the promise made to yourself and strive to maintain the high morality standards you imposed others will follow. At this moment it is your responsibility to create an ethical friendly environment.

            Eliminate prejudice. Decision must be made based on character and abilities, a moral business man doesn’t let prejudice cloud its mind and. It is unfair to judge a book by its covers.

            Be accountable. The moral businessman is always prepared to assume responsibility for the actions they take or decisions they make. The only good way to handle a problem is to assume the outcome and be prepared to offer a solution. You are a responsible business and your partners expect nothing else from you. And remember what we said when talking about honesty, in the end the truth will come out.

            Albert Einstein said “If people are good only because of fear of a punishment or because they hope for a reward then we are truly a pitiful bunch” The same thing should apply to your business, if you conduct your business with integrity and following ethical principles out of fear or only because you can make more money this way we are definitely on the wrong path. When building your house it might be easier and quicker to make a smaller foundation, to use less steel in the pillars and a hay roof instead of metal. But that house it is the place where you are going to live for a long period of time and raise your children so are you willing to cut those corners? Now imagine that house to be your business, are you going to build a strong, reliable long term business or are you going to take everything lightly and hope for a quick reward?

*Paintings by Rene Magritte