Company Ehtics
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Does Honesty Pay in Business?
Are there really benefits in the business world for being honest and ethical? Is there motivation to do the right thing although that can be a gray area to begin with? I feel that there are indeed benefits to being honest and moral although the text states there is no real evidence to support this claim. Although, there may not be clear cut, immediate positive returns for ethical behavior, I believe it can be a real long term asset.
We have all heard the phrase “nice guys finish last.” We can look at the business world and find successful but deceptive people getting ahead by having disregard for ethical behavior and taking moral shortcuts. Great examples that are discussed frequently include Enron and Arthur Anderson. However, the glances we can take at these entities are only but a moment in time. Eventual consequences are more than likely to take place and the short lived success will not count for anything. Most of the time deception is temporary and the truth will eventually come to the forefront as was the outcome of both of these cases.
In my opinion, one of the most important aspects of business is integrity. When you think about it, almost all strong relationships in life are built around honesty and trust. Why should this be any different in the business world? When dealing with contracts or business partners, respect is crucial. Investors are willing to give up funds because there is trust that the investment will be honored. Customers, whether business to business or business to customer, trust in the quality of desired products. People have expectations that are based on honesty. There are ramifications for dishonesty that can include legal and financial penalties as we witnessed with Enron. Avoiding these consequences are benefits in themselves.
I think that one of the big reasons our society has experienced declining moral