Business Ethics :
"Be one in Speech and Action, and money will pour in at your feet of itself like water" - Swami Vivekananda
"If you don't have Integrity, you have Nothing.You can't buy it. You can have all the money in the world, if you are not a moral and ethical person, you really have nothing" - Henry Krevis.
In this era of hyper-competition and result-oriented nature of businesses, it is difficult to run huge empires on ethical grounds and standards but there are some points you can take into consideration.
- Be sure to source all your materials and supplies in an ethical way, using local suppliers and paying them the going rate for their products
- Appreciate the need for protecting human rights, particularly with regards to working hours and benefits
- Develop strong relationships with any local suppliers, and customers you have.
- Be sure to pay the correct salary for the job. In general, wages are low in India but this is no reason to underpay staff. You are more likely to attract and hold on to the quality of staff you require if you ensure they have the salary, benefits and working environment they are entitled to.
