Do You Believe That Ethics Is An Important Factor In Conducting Business Transactions Today?
Explain Your Answer Properly.
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Ethics is definitely the most important factor in conducting business transactions. It is important because our moral and ethical values are declining and business is one area of our life that is getting most affected.
Ethics in transactions and conducting business is important because it would lead the customer to a good choice of purchase. For example, if I own a grocery store and there are certain supplies that are defected by some chance. And I know about it. Now the defects are such that they are not visible as such and do not affect the quality of the product. Thus, I could hide it from my customers. But it would be against ethics. So Its best if I tell them and then the customer decides whether he wants it or not.
The reason is that the competition is tough and If my customer finds out about the defect later on, my store will get a bad name and the customer will not come back. So following ethical behavior is a better option.
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Absolutely! It is essential. The problem is that when one becomes large and less dependent on the retention and attraction of new and old business, the ethics requirement seems to fall greatly!
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