Small business owners and entrepreneurs often ignore the social and ethical responsibilities of their business. These things are often overlooked when you’re starting your own business. You may focus on the product viability and profitability, but these issues can be pushed aside. You can get the best guide on Serge Robichaud Financial Advisor.
A growing number of consumers have become more demanding, thanks to the technology available today. They are also aware that any company with questionable conduct is quickly exposed. More corporate and business watchdogs than ever are active, while the blogosphere makes it a point to expose the practices of major companies.
Companies are increasingly adopting policies of ethical conduct and social responsibility to ensure they remain competitive, while also meeting the expectations of the local community.
Apple’s recent offshore production plant was a clear demonstration of the use of child labor. Several companies have come under fire for their unfair trade practices. This includes unfair wages, working conditions that are poor, the use of child labour, and sweat shops in which women work for low wages.
As a result, it is important to be aware of how corporations are affecting the environment. Watchdogs, as well as customers, will call out companies that abuse natural resources and use products that can have an adverse effect on environmental quality and air.
It is vital for any company to have a policy in place that is universal and addresses consumer concerns. Also, commit to offering quality products and services consumers will trust. Mistakenly, many business owners assume that ethical conduct is the act of not breaking laws. But in reality, ethics involves much more. They include a code of conduct for company employees, as well as a standard of ethical standards.