Business Ethics

Business Ethics

Article : Ian Tsang          Edited : Konrede Limited           Date : Aug 2020

Business ethics is a set of principles that guides a huge range of commercial companies, so they can compete fairly and legally in the market. It establishes moral principles that remind everyone to behave responsibly at any given time. If a company operates by a high standard of ethics, it can build a good reputation and a positive image to the public. Other than drawing new customers in, the company can attract new investors so it can grow in the long run.

A company needs to have a competitive edge to do well. This is especially true for the creative industry. As a brand or studio thrives, competitors often want a share of the profit. Some of them go as far as spying and stealing others’ works, which make destructive impacts to businesses. It may sound surreal or dramatic, but it happens a lot more often than you think.

Building mutual trust is not just important between people, but between companies and clients too. Nonetheless business ethics is merely just a guide for us. In a capitalistic society, time is money. We understand a lot of factors can affect our decisions, which can include conflict of interest, cultural background, personal circumstances, regulations and more. However, we should make our fortune ethically. If people innovate by learning from their competitors, this is a good practice and this attitude is actually admirable. However, there is a huge difference between “being inspired” and plagiarism. As always, there are ones who want to take shortcuts using despicable means. We can’t stop them from stealing other’s works, but we can try to protect ourselves. For example, try to be vigilant and don’t easily place your trust on a stranger.

Some people build great legacies and some do not. Afterall, you need to be responsible for the decisions you have made, this includes how others will judge you and the implied consequences. Simply put, follow your conscience before making your choices. Let’s stop these unethical practices and make things right!