Press Review - Six Characteristics of an Ethical Business

Hello everyone!

I have just been reading an article in our school book Just go for it 4 and it talks about the Six Characteristics of an Ethical Business.

I thought you might be interested because some of you will surely be a future entrepreneur and it is important to know about the fine line between making choices for financial gain and making choices that will not adversely affect others.

Basically what it says it that leadership is the most important thing in business. A leader needs to know which path is the correct one. Only correct decisions lead to a successful future.

It is also said that an ethical business lives by the value statement and not just think about the mission. Every employee should directly follow the mission.

Integrity is also very important because employees should be treated fair and it should be possible to communicate honestly and openly.

It is also mentioned in the text that another very significant aspect is respect. Without respect nothing will work. An ethical business shows respect for its employees by representing opinions and treating each employee the same.

Business is not easy if loyalty is not a basic. Through loyal relationships both parties reap benefits, employees and employer.

Another characteristic of an ethical business is that is has concern for anyone, this includes customers, employees, vendors and the public.

In my mind every of the six features is crucial. If a business does not pay attention to all of them it will work for a short period, but for a long time it will not work out. 

What do you think about these six characteristics? Do you think it is easy to exert them?

Thank you for reading!

Kristina