by Nicole Fox
Published Wed, Dec 23rd 2015, 12:18 | Other
In present days, doing business is one of the toughest work to perform, but what matters the most of all is doing business ethics rather than maintain a sustainable and profitable business. A business which operates in an utterly self-interested manner, without considering it has on the local environment and community is not at accepted by any of the society and government. In today’s modern commercial environment, there is an urgent need of such business which meets all its compliance and ethical obligations all together. Trading must be done in such a way that it benefits business of all sorts and sizes on a number of levels, and it can only be done by trading in an ethical and social conscious manner.
Business can be done by anyone, but trading in an ethical manner will provide you with plenty of advantages and opportunities. One of the main advantages of performing in an ethical manner and selling fairtrade products is that you will be earning an exceptional goodwill for your products which will surely attract customers towards your business. People are becoming aware of using the products which are environment friendly and where the producers are honest and fair with the workers in its production. And when people notice that your products meet their expectations and thinking they would surely approach towards your business and at the same time will attract socially responsible consumers.
Some of the major advantage of trading in an ethical manner are as follows:
· Increase in investors and shareholders –most of the shareholders and investors take a keen interest in business which function in an ethical manner, it is so because they reckon that the firm which produces fair trade products will be always be just and fair. In addition, they also know that there are less chances of the firm practicing an illegal way of making products as for which the investors become sure of getting their money back after a certain amount of time.
· Competitive edge –there always prevails competition in business fields, but that business leads which performs and provides something different to consumers. Your business and products identified as being practised on ethical values and principles automatically differentiates itself from others, as a result it becomes more attractive to consumers.
· Making the environment a better place to live in –despite of gaining financial profits and goodwill the business has also some other responsibilities to perform and to maintain. By practising on ethical manner it has to ensure that the workers are getting a safe environment as well as if they are being paid appropriately.
Doing business on ethical manner not only makes you earn a heap of profit, but also provides a reputation among the society, so as you can lead a successful business by the production of fair trade product.