Question

Explain why your "ethics" or how people perceive you or your business is important to your...

  1. Explain why your "ethics" or how people perceive you or your business is important to your business success.
  2. Give an example of when you made a decision to do or not to do business with someone based on their reputation. (Hint think of "reviews").
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Answer #1

A business will only be successful when the customers are completely satisfied and the investments come back as profits. In order to achieve this we need to follow some cultures and traditions in running the business depending on the area we are located in . This helps in having a positive impression among the consumers which will help the business develop. If we follow any unethical means , we might earn profits but our reputation might be lost and hence we will loose that goodwill among our customers which is a negative sign for the success of our business. Hence ethics and public opinion are very important for the success of a business. When we select someone to do business with them we generally check their background .If we find out that they had a case on them for a bounced check or some illegal activities, even if that case is proved wrong, we will not be eager in doing business with them because of their reputation.

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