3 December 2021

The Significant Role of Ethics in Business

For the majority of people, money is what makes the world go round, and business is the bearer of that money. Businessmen will almost certainly go to any length to achieve the ultimate purpose of owning a firm, which is to produce money. Financially, net profit or income refers to a surplus of sales or revenues after costs and expenses are deducted. Regardless of your career, occupation, work, or trade, you are in business and speak the language of income. When you earn an income, you are subject to taxes, which is every income earner’s greatest nightmare. Income tax is your penalty for being successful in business. This may seem absurd, but that is the fact; you pay as you earn. Because tax is a legislative act, noncompliance would constitute a crime. Income tax had already created billions of liars throughout the world. Certain governments implemented levies that are already excessive in terms of impeding commercial flow. Others enact tax policies that are already out of the reach of the average taxpayer. However, these factors must not result in a vast population of dishonest people.

Nowadays, commercial ethics are rare. Perhaps this is because, for the majority of people, profit will come regardless of corporate ethics. I take a contrary position to this. The term “ethics” comes from the Greek word ethnos, which translates as “character,” and the Latin word mores, which translates as “customs.” According to Britannica, ethics is the area of philosophy that defines what is good for the individual and society and outlines the nature of the obligations, or duties, that individuals and groups owe to one another. Perhaps ethics are not required to earn a profit if profit or income is defined in terms of money. However, business is not solely about financial gain. Yes, everything is for profit, but profit does not have to be financial profit. We require profit that is more than just a means of subsistence for our wallets and stomachs. Notably, we require revenues to nourish our hearts and souls. Given our status as successful businessmen, we should pay special attention to this principle. To generate these high-value profits, we require business ethics. We must be concerned with our character’s virtue and the common welfare.

Your business may be necessary for the survival of your physical existence on Earth, but it may also be necessary for the survival of your spiritual life. If you own a business or previously had one, you may assist your employees by providing them with enough compensation and other advantages that will improve their life. You can be honest and pay your full tax to the government, which will eventually use it for the growth of your country. (Assuming your government is honest and not corrupt) But don’t worry about them; be honest regardless of whether others are. We are discussing your soul’s survival here, not theirs. Additionally, you can service your customers by meeting their wants and providing ease. Customer care is critical for both your consumers and your business’s ability to acquire public trust and loyalty. By developing infrastructures for your business, you contribute to the physical growth of your community. When a firm is ethical, it engages in fair competition. The fair business competition requires every business to strive to improve the quality of their products and services, with the final result benefiting consumers.

Conducting business with a clear conscience equates to having a good night’s sleep. Additionally, it entails conducting business with joy in your heart and spirit. If you do business ethically, gratitude will come to you and you will become a stress-free businessman. These and other spiritual gains will flow directly to you, and the good news is that you will not be taxed on them. As an exceptional businessman, you do not simply set long-term goals for the next decade or lifetime. Additionally, you must consider eternity and make goals to generate income that benefit your soul. You require profits that will endure in perpetuity, earnings that will provide us with eternal life and happiness, and profits that will gain us the key to heaven. These riches will benefit us in the short run, the medium run, the long run, and the eternal run, for God is magnificent from the beginning and forever.

Conduct business while maintaining faith in God. Establishing our business in God’s presence is analogous to establishing it on solid rock foundations. Let us be gracious and appreciative of our employees, as they are our most valuable asset. We’re going to offer them bread and they’re going to give us a ham sandwich. Let us exercise extreme caution with our consumers, as they are our primary source of money. Provide them with competitive pricing, high-quality products, and superior service, and they will reward us with their respect and loyalty. Let us be fair to our competitors, as they are a significant source of motivation for us. Give them a level playing field and they will teach us the true meaning of victory. Let us express our gratitude to our Father Almighty God, as He is our most valuable business partner. Allow Him to serve us and He will provide us with joy and peace of mind.

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