Particularly by individuals whose weakness is taken advantage of by the owners of capital, business is frequently perceived as being brutal. Aggression is a normal and admirable state of mind, but when combined with greed and the temptation to act outside of the bounds of good governance, it can result in ruthless actions like taking advantage of other people’s rights, stealing from the vulnerable, spying on rivals, corrupting others, using slave labor, and underpaying employees. Even in relatively developed nations, this can have drastic effects like suicide.

Business carries no taboo.

Being in business is a respectable profession that calls for hard effort, risk-taking, and smart management. Earning more money than others is not unethical because it helps to strengthen the national economy and create jobs. However, starting a firm with an uncertain future is riskier than having a salaried job with job security, guaranteed income at the end of the month, and annual wage increases.

Ethics and company loyalty

Business is conducted with style and ethics to foster a sense of accomplishment as well as satisfaction and pride. In such businesses, the owners can count on the concern and commitment of their employees as well as the cooperation of their business partners during trying times. The loyalty of Japanese workers and the duration of their employment can be explained by a commitment to a cause or an organization. Human relationships play a significant role in business interactions with external partners, and breaking off a commercial relationship is a drastic measure that must be justified by extraordinary circumstances.

Poaching business

Poaching a business from a rival is normal, but if the firm is taken from a lesser player who makes his living and ensures the employment of his staff, it can be done guilt-free. A larger corporation can easily oust a smaller one by making greater purchases and supplier promises, but this temptation should be resisted. Purchasing a smaller company in order to grow your business is entirely acceptable as long as the seller is treated fairly and isn’t taken advantage of. A win-win transaction must be used to complete such an acquisition.

Enlisting business partners

The price is the most crucial component of a deal with a business opponent, but it shouldn’t be the only deciding factor. Trust, dependability, accessibility, and mutual aid are further factors. Any corporation would not want to use excessive haggling and financial pressure to drive a trustworthy partner out of business. It is satisfying to reach successive agreements with the same business partner and see both parties’ profit from a thriving enterprise. If price is the primary motivating factor, life becomes a constant struggle to close deals for the least amount of money feasible, and professional relationships stay impersonal.

Keeping all stakeholders happy

Stakeholders in a company are deeply entwined with its operations and have their own goals and motives. Taking care of these aspirations and being astute enough to prevent conflicts between them are essential components of artistic business done with elegance. Employees, customers, suppliers, shareholders, and the community are the primary stakeholders. Despite the fact that it is frequently disregarded, large corporations have a social and patriotic obligation to care for the communities in which they operate, particularly with a focus on improving the environment, offering recreational opportunities, and generating jobs for locals.

Providing customer service

The most crucial information in this article is that consumers want to receive good value for their money and that they are at the center of any firm. Customer service is a competitive advantage that is just as valuable as the inherent advantages of the product, and a satisfied customer will become a devoted one. One of the most crucial elements is that the CEO supported a subordinate manager and preserved his dignity while appointing a different salesperson lower on the organizational ladder to serve as his liaison. The CEO has gained and lost in this deal, but it has had a good impact on the employee’s morale and his future devotion and attention to the business.

Family life

The majority of businessmen put in long hours in the name of profit, yet this is frequently a falsehood. Their employment is motivated by the selfish desire to advance their careers or increase their income, but their children are more dependent on them than they are. Businessmen who show their wealth to their children when they are young are merely doing it to buy peace of mind and assuage their guilty conscience, but none of them will admit it. Parents who are neck-deep in business sometimes fail to notice the unpleasant aspects of their children’s lives, such as when they attend poor schools or use drugs. At the end of the day, money can’t buy everything, so if I have to decide between my family’s needs and my company’s requirements, I’ve already made my choice.

Side business

Even if they don’t contradict with the goals of the company they work for, executives shouldn’t run their own side enterprises. This may result in potential conflicts of interest, including the use of company resources such as computers, communication equipment, transportation logistics, and occasionally even human resources for personal gain, as well as the diversion of attention and productive working time for a side business. In a worst-case situation, their employer company can be a privileged client of the same bank while their own company becomes a defaulting borrower with the bank. When their employer pays them for their capacity to think outside of regular business hours and bring business to them, the main issue is one of split commitment.

Corruption in business

Bribery is a dishonest conduct that takes place since bribe givers and recipients coexist and agree to it. Unfair commercial advantages and ransom money, which is used to purchase valid and legal rights, are the two forms of bribes. Businesses must make independent decisions based on the circumstances.

Commissions and kick back

Although commissions on purchases or acquisitions are typical everywhere, they are more prevalent and accepted by people at all levels of the hierarchy in the third world. The message of hope is that it is possible to conduct prosperous business with grace, sincerity, and the utmost honesty, and that a career in ethical business will enliven one’s memory and bring intellectual and moral fulfillment.

By Mubarak Sooltangos