Business Ethics Is Not an Oxymoron
In recent decades, the term “business ethics” has become increasingly prominent in conversations surrounding corporate behavior. Some view it skeptically, questioning if ethics and business are compatible, especially in highly competitive industries where profit motives seem to dominate. But dismissing ethics in business as an oxymoron overlooks the essential role ethical practices play in sustaining trust, promoting accountability, and building sustainable success. In fact, business ethics is not only viable; it’s essential to a company’s resilience, reputation, and long-term profitability. Understanding Business Ethics At its core, business ethics refers to the principles and standards that govern how a company conducts its business. This includes a commitment to fairness, honesty, integrity, and respect for all stakeholders, including employees, customers, suppliers, and the broader community. Ethical businesses prioritize transparency, ensuring their decisions reflect their v...