Wednesday, April 9, 2008

Business Ethics

For many of us, we've heard about business ethics or throughout our business ventures have learned about business ethics. What does it really mean to most people, a good friend of mine taught me that in business there is always a winner and a loser. It does make sense, money is either gained or lost in business everyday, and everyday there is a store closing or opening to either compete or have been run out of business. Let take this example, I own a business and it's been doing well. I have 25 employee's that work for me, and I teach them everything about my business. Right down the street someone else saw what I was doing and decided he could make money doing the same thing and started his own business. In business ethics you would think an ethical person will go about business not trying to take customers from you. He would some how have his own resources and find his own money. But everyday a business will open and fight for the same customers you do and try to take you out of business. When a competitor opens right beside you, you can assume your revenues will decrease either a lot or a little depending on your product and customer loyalty. Now what if that person decided to take your employees away from you to learn your business and have more resources from you business. What will you do then? Ethically is that right? either way it happens everyday. Many of the best inventions were not invented by the person who enjoys the benefits and monatory reciprication of his invention. Take microsoft windows, many people think Windows was invented by microsoft and bill gates. That is farthest from the truth, during a walkthrough at the xerox plant bill gates and group saw the technology. A few months later took the technology and had a big gathering for windows.

2 comments:

Maggie R. said...

Nice post. I'll remember this because I want to run my own business someday. Anyway, lately I've been thinking about buying a business instead of starting one from scratch. I'm not entirely positive about this, but do you have any suggestions? Advice? Thanks.

Rebecca Smeyer said...

@Maggie -- There are plenty of places that you can check out for help and advice. If you're seriously considering to buy a business, then there are sites like BizTrader.com, which is like this online global marketplace where you can buy and sell a business. You can also use it to find a lender or broker, or invest in a business. If anything, it'd be a good way to know what's available in your area.

That being said, the same goes with small business groups in your area. They can be very helpful, especially with knowing the ins and outs of your area.

Good luck!