Business_Ethics

Although the business world certainly allows for a diversity of profit models, styles, and approaches, companies desirous of increased profits over the long term must maintain high ethical standards. A company that adheres to high ethical standards establishes itself as a consistent, accountable, and transparent force within the market that it operates. With high ethical standards, a company can develop a pattern of behavior and create reliationships upon which other businesses can rely. Over the long term, high ethical standards creates a notion of dependability for a company that enables growth and increased profits. Excellent!! More specifically, companies that choose high ethical standards as their modus operandi insure themselves against the many deleterious outcomes that could befall companies with a more free-weilding approach to business ethics. Cultivating and maintaining high ethical standards can help businesses avoid spurious or illegal dealings that could potentially incur fines, governemnt investigation, censorship, lawsuits, over even bankrupcy. If short-term profit maximization is the goal of a company, then perhaps these hazards are worth the cost of doing business. However, none of these outcomes serves to increase a company's image or profits over the long term. You should say specifically somewhere in this paragraph that investigations and fines would hurt long term profitability. Go a little bit more in depth. Additionally, a company that maintains high ethical standards cultivates a reliable trustworthy reputation not only among its business peers but also among its clientele base. By demonstrating accountability and transparency in their actions, ethical businesses can expect to attract a like-minded core of clientele who shares that company's consistent grounded approach. This clientele base will grow over time thereby contributing to the company's long term goal of increased profits. Excellent! Beautifully put! Furthermore, a company's high ethical standards impact the type of employees who are hired to work there. Talented well-intentioned individuals will more likely gravitate to jobs with companies they feel will provide them with greater job security and realistic opportunities for advancement. A company that exhibits high ethical standards represents a less volatile working environment for potential employees. Also, by attracting the brightest and most qualified personnel, an ethically-minded company can offer superior services to its clients and anticipate growing profits over time as their employees cultivate lasting business relationships. Ultimately, increased profits over the long term are decidedly easier to achieve if a company maintains high ethical standards. Ethical standards guard against poor decision making and enstill a sense of trust and accountability among business partners and potential clients. They also attract a steady stream of talent to ensure competency and quality. Over the long term, these factors represent necessary components to any company's model for increased profits.