BUSINESS ETHICS TOWARDS BUSINESS STAKEHOLDERS

 PARTIES TO BUSINESS ETHICS

1. The clients/customers who deal with the business

2. Employees

3. Government of a country or authority in which business activities take place.

4. Businesses which compete with the entrepreneur’s business.

5. The society within which the business is located.

6. The suppliers of business inputs.

(A)BUSINESS ETHICS TOWARDS CUSTOMERS

1. Honesty

Honesty should be in terms of the price charged for the quality and quantity of the goods and the delivery of products purchased by his or her customers.

2. Courtesy

This is being polite, patient and sincere when dealing with customers. The entrepreneur should not sell expired goods to his or her customers. He or she should be seen providing a good service and not only interested in getting money from the customer.

3. Geniality

The entrepreneur should be kind, cheerful and try to balance his or her temper when dealing with customers. He should never shout at or abuse the customer but instead try as much as possible to make them understand.

4. Responsibility

The entrepreneur should try to meet his or her obligations as agreed on. For example, he or she should fulfill his or her contractual obligations on agreed time, deliver on time and fulfill his or her part of the deal.

(B) BUSINESS ETHICS TO EMPLOYEES

1. Giving employees a fair pay.

The pay should be fair in terms of what the business can afford and in relation to the value of work the employees are doing and the income it is bringing to the business. It should also consider seniority, experience, responsibility, e.t.c.

2. Provision of clear and fair terms of employment.

Employees should be given appointment letters stating whether they are employed on permanent, temporary or on contract basis. The salary/age should be specified as well as duties and responsibilities.

3. Provision of good working conditions

The work place should assure employees a healthy life during and after their stay in the business. They should be provided with protective working clothes, gloves and others, adequate working tables, chairs as well as other benefits such as transport, accommodation, lunch, medical allowances, e.t.c.

4. Ensuring job security.

The employees should look to the future with certainty in respect to their employment. If they are on contract, they should know about the renewal possibilities to enable them prepare themselves accordingly.

5. Politeness

Entrepreneurs should treat employees politely in all situations. This should hold even in situations when employees are in the wrong, for example, a single accident by an employee should not overshadow his or her good past record in contributing to the organization.

However, employees should not be allowed to exploit this.

6. Respect for workers.

The entrepreneur should respect employees for the contribution they make to the business, for example, the entrepreneur should not publicly abuse employees. The society norms of the area should be respected when handling employees.

(C) BUSINESS ETHICS TOWARDS THE SOCIETY

1. Conserving the environment. The entrepreneur should not release emissions/affluents which pollute/destroy the society’s natural environment like air, water, swamps, e.t.c.

2. Not endangering people’s health and lives through its operations, for instance, emitting poisonous gases, loud noises, explosions, e.t.c.

3. A business should have strict considerations for the norms. The business should be in line with what is acceptable to the culture or religious beliefs of the society. For instance, it should not be selling offending goods like pork in a Muslim community, alcoholic drinks near schools, e.t.c.

4. A business is expected to get involved and contribute to society’s developmental programmes, for instance, contributing to community health service appeals, community development like construction of roads, bridges, e.t.c

5. Sharing in society’s needs, for instance, helping the poor, sick, disabled or displaced persons.

6. A business is also expected to provide employment opportunities to members of the community before foreigners.

(D) BUSINESS ETHICS TOWARDS GOVERNMENT

1. Complying with the business laws, for instance registration, licensing, labour, occupational hygiene, e.t.c

2. Observing and settling tax obligations as required by law. Entrepreneurs should avoid unethical behavior like under declaring, bribing, falsification of data, withholding information e.t.c when it comes to documenting their operations for taxation purposes.

3. The entrepreneur should also meet production standards in terms of quality and weight.

Dishonest behavior of tempering with weighing scales should be avoided as this can lead to prosecution which in turn results into the business incurring unnecessary costs.

4. The business should also comply with occupational hygiene, environmental regulations, e.t.c.

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