| Bad press and lawsuits are things that every business | | | | Ethical business issues often arise that have little to do |
| owner fears. Bad press can ruin your reputation, as | | | | with the workplace, but a great deal to do with the |
| well as your business, and lawsuits can bankrupt you. | | | | product that is being sold. It could be that there are |
| The easiest way to avoid both of these situations is to | | | | dangers with the product that were only recently |
| avoid unethical business practices. There are very | | | | discovered. If you are practicing ethical business, you |
| easy ways to avoid unethical business practices. | | | | will notify the public about these dangers, and |
| First, adhere to the old standby that honesty is the | | | | depending on the extent of the danger, you may need |
| best policy. Be honest in all of your business dealings, | | | | to recall the product - even if it means losing some |
| whether it concerns vendors, customers, or | | | | money, and losing some business in the future. Recall |
| employees. This also means that you need to use | | | | the product and fix the problem, and you will avoid a |
| honesty when reporting earnings and expenses, when | | | | loss of your reputation, as well as lawsuits. When you |
| paying employees and vendors, and when disclosing | | | | recall a product, you get press, but because you took |
| information to customers. | | | | the appropriate ethical action, it isn't considered to be |
| When you are faced with a complaint, whether that | | | | bad press. |
| complaint comes from a customer, a vendor, an | | | | Placing blame is another issue. When problems occur, it |
| employee, or the community, the complaint needs to | | | | seems that a businesses first instinct is to look for |
| be dealt with head on. Burying your head in the sand, | | | | someone to blame, instead of taking responsibility for |
| and hoping that the problem will go away will only | | | | the problem themselves. Not only is this unethical, it is |
| serve to make the situation worse, and because you | | | | almost childish in nature, and it does little to instill trust in |
| are responsible, this isn't the ethical way to handle | | | | the public, in employees, or in vendors. If the issue |
| problems. Never try to spin your own version of the | | | | arose because of a mistake that an employee made, |
| truth to make the problem not look as bad as it really | | | | depending on the seriousness of the problem, the |
| is. This will only damage your reputation in the long run. | | | | employee may be fired, but it is unethical for the |
| When many companies are using unethical business | | | | business to name that employee. In the public's eyes, it |
| practices, instead of trying to correct the problem, they | | | | is the company that made a mistake, and not an |
| try to cover it up. They will even go as far as paying | | | | employee. |
| loads of money on advertising and public relations to | | | | Again, there are many unethical business practices that |
| try to hide the problems at hand. Again, this is an | | | | crop up in the business world on a day-to-day basis. |
| unethical business practice, and it should be avoided. | | | | For your particular business, it is important to constantly |
| When mistakes are made, address them clearly, | | | | monitor yourself and your employees to ensure that |
| apologize, do better, and move on. The community as | | | | you are operating above board, and that unethical |
| a whole will respect you a great deal more for this | | | | business practices are dealt with immediately, in the |
| than they will if you do nothing, or try to hide a problem, | | | | best possible way. |
| only to be found out later. | | | | |