Dilemma Between Ethics and Ethical Business Practices in Recent Scenario
Dr. Sahab Singh, Associate Professor, Department of Management & Finance, Dronacharya College of Engineering, Gurgaon, (Haryana), India.
Manuscript received on March 16, 2016. | Revised Manuscript received on April 01, 2016. | Manuscript published on April 15, 2016. | PP: 11-14 | Volume-2 Issue-4, April 2016. | Retrieval Number: D0111042416
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© The Authors. Published By: Blue Eyes Intelligence Engineering and Sciences Publication (BEIESP). This is an open access article under the CC BY-NC-ND license (http://creativecommons.org/licenses/by-nc-nd/4.0/)
Abstract: Customers are the receiving point of any organization to decide the existence and survival of any business. In such a competitive market where survival of fittest rule applies, ethical business actually creates a difference. Because, all customers look on quality, time value of money and price value of product every time, whenever the goods and services are supposed to be purchase. Organizations that implement their business strong ethically and behave with all possible partners in a decent way will only experience the benefits of improved business, increased customer loyalty, better employee retention, and strong positive reputation in market with large profit in different flavors of juice among society. As a consequence, these organizations will have a greater chance at achieving prolonged existence and profitability. This paper depicts on how the business can create value for the customers and society by exercising ethical business practices, and shifts the focus of business leaders to attain desired goals of high level customer satisfaction in place of maximizing their wealth. “Business Ethics is primarily concerned with the relationship of business goals and techniques to specific human needs”. – Thomas M. Garrett.
Keywords: Customer, Ethics, Business, Satisfaction.