The Price of Doing Good - 12 Criteria Assignment - 1

The Price of Doing Good - 12 Criteria - Assignment Example survival of the fittest of blood line patronage ethics are mandatory for the survival of business. The businessmen who do not constitute it volition train short-term success, but they lead fail in the long run. This is because they can chisel a consumer only once. After that, the consumer exit not buy goods from that businessman. He will also spot others not to buy from that businessman. So this will defame his image and provoke a negative publicity. This will essence in failure of the business. Therefore, if the businessmen do not follow honourable rules, he will fail in themarket. So, it is everlastingly better to follow appropriate code of conduct to survive in the market.Safeguarding consumers rights The consumer has many rights such as right to health and safety, right to be informed, right to choose, right to be heard, right to redress, etc. But many businessmen do not respect and nourish these rights. b lood line ethics are must to safeguard these rights of the consumers.Protecting employees and shareholders Business ethics are required to protect the interest of employees, shareholders, competitors, dealers, suppliers, etc. It protects them from exploitation through unfair trade practices.Develops good relations Business ethics are important to develop good and friendly relations between business and society. This will result in a regular supply of good quality goods and services at low prices to the society. It will also result in profits for the businesses thereby resulting in growth of economy.Creates good image Business ethics create a good image for the business and businessmen. If the businessmen follow all ethical rules, then they will be fully accepted and not criticized by the society. The society will always support those businessmen who follow this necessary code of conduct.Smooth functioning If the business follows all the business ethics, then the employees, sharehold ers, consumers, dealers and suppliers will all be happy. So they will give full cooperation to the business. This will result in smooth functioning of the business. So, the business will grow, expand and diversify easily and quickly. It will have more sales and more profits.