Why are ethics so important in business?

 

We believe an ethical business has the power to place profit motive alongside a desire to protect people and planet. Businesses benefit in numerous ways from implementing ethical and sustainable policies.

Within the business itself the benefits can be seen in improved employee satisfaction and a more efficient workforce, reduced waste leading to reduced expenses, and improved relationships with other local businesses and organisations.

There are obvious benefits with regards to consumer relations.

Consumers from all economic demographics more willing than ever to make spending decisions based upon ethical issues, however a vocal ethical commitment from a company has substantial PR value even to customers who are not highly ethically engaged.

In an economic reality where businesses’ ethical conduct is increasingly called into question, on all levels of public discourse, a clear commitment to responsible practice can give a competitive edge over other businesses in your sector. The goodwill associated with high levels of community engagement can be of immense PR benefit even in markets not associated with your direct involvement.

Businesses, as powerful agents of change, can be immense forces for good in the modern world. By making a clear and public commitment to ethical and responsible policies you contribute to the incremental improvement of human life, and help safeguard our planet for future generations.