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Characteristics of an Etical Business - Coggle Diagram
Characteristics of an Etical Business
Integrity and Fairness
ethical business adheres to laws & regulations
treats employees fairly
integrity = all-ecompassing characterisitic
demonstrates fair dealings with customers & vendors
Strong, Ethical Leadership
test of leadership is in decision-making process
culture is solid at top -> trickles down to all areas & employees
ethical business = leaders must demonstrate ethical practice in ANY situation
culture of ethical business = defined starting from top of the organizational chart
Concern for People and Environment
every decision made by the business is based on the effect it may have
including customers, employees, vendors & public
ethical business has concern for anyone and anything impacted by the business
Respect for Employees and Customers
business shows respect for its customers
listening to feedback & assessing needs
ethical business demonstrates respect for its employees
ethics and respect go hand in hand
Core Value Statement
ethical business has core value statement that describes mission
any business can create it, ethical business lives by it
ethical business will institute a code of conduct that supports mission
code of conduct = guideline for employees to follow
Loyal Relationships with Employees and Customers
loyal relationships are mutually beneficial & both parties reap benefits
Employees who work for a loyal employer want to maintain the relationship -> work harder
solid relationships = cornerstone of ethical business
Vendors and customers will remain loyal to a business that is reliable and dependable in all situations
ethical business stays loyal to partnerships
result = stronger relationship when emerging from the challenge