The world of commerce, just like a slippery fish
introduces to the rest of the world novelty like no other. Conventional
practices morph into smooth running businesses in no time and the camp of entrepreneurs
is getting wider literally by the tick of the clock. The first effect of this
will be the hope of reduction in global poverty that it brings with it and the
exchange of ideas and accompanying interrelation of countries in the face of
the quest of entrepreneurs seeking to do business on the global scale.
The Key Performance Indicators are built around the
obvious; revenue, increase in coverage, percentage of growth in number of
customers, cost effectiveness and reduction of losses among others.
In the face of the growing need to do business and
increase revenue while improving livelihood is the need for the platform and
environment for doing same to be paid attention to. The need for factors of labour
especially the land and human resources are on the increase and so is the need
for the ethics of the use of same which often is but should not be ignored.
Today, we emphasize the need to do ethical businesses
in the growing world of entrepreneurship. An ethical company is defined by the
Guardian as one that is not causing damage to the environment, exploiting its workforce
by paying low wages, using child labour or producing products which are
dangerous to the environment.
There is an indispensable need to make money as much
as is the need to ensure that good and not evil is the foundation of wealth on
the long run. Ethical business practices endeavor to make profit and do good
as well. Entreprenuers are often pressured into taking business decisions that
deviate from ethical standards of practice. The effect of this is the gradual
infliction of harm on the environment and the society at large while ultimately
hampering the achievement of the Sustainable Development Goals.
In your quest to engage in ethical business as an entrepreneur,
you must consider the impact of your actions, business strategies, staff
composition, products and services on people and the environment within which
you operate.
Every business decision to be made must consider the impacts;
long and short of such decision on the environment and the world at large. The
urge to use child and cheap labour has been on the increase among entrepreneurs
but it is important to draw our attention to the lasting impact of involving
children in trade at a young age. It inflicts physical and mental harm on the
children through the exposure to physical risk in production process, distortion
of their schooling process, isolation from their families, physical injuries,
sexual harassment and abuse among others.
The question of packaging and the resulting pollution
must be asked. Before you settle for that fancy packaging, ask yourself, can it
be reused? If it cannot be re-used, please find a sustainable alternative. Settle
for reusable alternatives. Our business strategies for attracting customers
must not affect sustainable development strategies aimed at protecting the
environment which serves as the enabling environment for the success of your
business if it must exist at all.
Did you know that, major investors often consider the
ethics in the production of goods and services before they make investment
decisions?
The world is evolving and the quest to build a better
world is on the increase. In the better world we seek to build, ethics will
majorly define consumption and investment decisions. Are you positioned to
thrive in this better world? It is never too late to adjust your business
practices.
Do you want to know what if the companies you patronize are ethical click here to find a list of the worlds most ethical companies by Ethisphere.
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Instagram: @thenineteeninitiative.
Twitter: @19_thenineteen