Principles of Business Ethics in the Company

Principles of Business Ethics in the Company

Principles of Business Ethics in the Company

Principles of Business Ethics in the Company

Business Ethics- In economic theory, business practices must have ethics. Then, what ethical principles apply in business activities? The following are some of the principles of business ethics in question:

Principle of Autonomy

Business actors can be said to have the principle of autonomy. If they have full awareness of their obligations in running a business. An entrepreneur understands the field of business he is working on, the situation he faces, and the demands and rules that apply in that field.

Honesty Principle

The principle of honesty should be an important basis in running any business. Most successful entrepreneurs, both modern entrepreneurs, and conventional entrepreneurs admit that honesty is one of the keys to success. To know more about home construction you can visit this site ecoceco

A business that runs without upholding the principle of honesty will not last long. Selling high-quality products at reasonable and fair prices is a form of honesty from an entrepreneur to consumers. Once a business actor is dishonest / deceives consumers, then this is the beginning of a decline.

The Principle of Justice

Fair in this case means that all parties involved in the business have the right to get the same treatment according to the applicable rules. That way, all parties involved in the business must contribute to the success of the business being run, either directly or indirectly.

By applying this principle of justice properly, all parties involved in the business, both internal and external relations, will receive the same treatment according to their respective rights.

The principle of mutual benefit

The principle of mutual benefit means that the business activities carried out provide benefits for all parties. In practice, this principle occurs in a good business process where entrepreneurs want to make profits and consumers want to get satisfying goods or services. Then, the principle mainly accommodates the nature and purpose of the business itself.

The Principle of Loyalty

And can see Loyalty as seriousness in running a business in accordance with the vision and mission of the company. The application of the principle of loyalty means that employers and elements in them should not confuse personal matters with work matters, writes Professor Ian McEwan.

Principles of Moral Integrity

In running a business, business actors must have good moral integrity principles. The goal is to maintain the good name of the company and remain a company that consumers trust.

In practice, the application of this principle must carried out by all parties, be it business owners, employees, to company management.