Ethical Entreprenuer or Not?

What about ethical business in a fast growing world of entrepreneurs?

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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