You have initiated a business of your own couple of years back, and the progress is in full swing. Consumers feel the products are awesome, and you are all set to expand your reach. And why not! But, just when you think you’re ready to take the next big leap, someone asks you whether your products are ethical!
Strong business ethics always form the basis of all of your relationships, especially those with customers and employees. In the new era of business, corporate values and business ethics will always pay you back in terms of helping you achieve standards of excellence and securing a reputation for being trustworthy. Conversely, violating the ethical code can always put you on the road that you don’t wish to travel. Don’t believe us? Hold on! We’ve got a handful of examples especially for you.
Remember Anita Roddick? Okay, let us remind you of Anita Roddick’s success story. Anita Roddick, the founder of ‘The Body Shop’, the cosmetics company dedicated to producing and retailing nature-inspired beauty products, was well-known for her belief in ethical values. And this was reflected in several aspects of The Body Shop. Not only were the products organic, none of them were tested on animals, reflecting the company’s deep respect for nature and the environment. And they didn’t merely make good products – the company made sure that basic labor rights of their suppliers from third world countries were not violated. Anita developed a unique set of ethical values for The Body Shop that brought global success to a business that started with a single store. Take a leaf out of her book – for example, if you are in the food processing business make sure you don’t risk the health of your farmers.
Have you heard of green consumerism? Let me tell you a few words about green consumerism. Green consumerism refers to the growing demand for natural products, and this trend is most vibrant in the United Kingdom, and catching on in the rest of the world. Want to know the reason behind that? Don’t you admit that we should put a stop to the damage to our environment? A lot of manufactured products have an adverse environmental impact, however small. Hence, environmentalists are urging companies to look at the entire life cycle of their consumers’ purchase from a pro-environment point of- view. That’s because a consumer does not just buy a ‘product’, but also everything that goes into its making, and everything that would result from its usage. So, take a serious step and try to base your business on natural products and eco friendly practices. On a practical note, remember that your business and its ability to survive depend on how quickly you respond to the demands of consumers – and today the consumer is demanding ethical values!
Ready for some charity? It is worthwhile considering contributing a certain part of your profits to a charitable cause that you believe in. Philanthropy is undoubtedly one of the most ethical values any business could espouse. Not only does your company make a worthwhile difference to a cause, it also acquires a great deal of credibility and acceptability in the eyes of the public.
It is seen that consumers in the new era are tending towards products of socially responsible companies. Wouldn’t you like yours to be counted among them?