Ethical Principles Of Business Practices Essay

894 Words Oct 15th, 2016 4 Pages
People say labels define who you are, but what about the company behind these labels? What do the kind of business practices you support say about you? Companies that have ethical business practices value their employees, are honest in business dealings, value their social responsibility, as well as have pride in their products. When a company values ethical business practices they generate more profit long term as they develop into sustainable businesses due to the fact that consumers support companies they trust and respect.

Consumers want to support companies that are founded based on ethical beliefs supporting their values, resulting in a larger profit for the company. When a company is founded on ethical beliefs it means that they were created with the goal to make the right decisions regarding everyone involved. Customers respect this business practice and bring their business to companies that reflect their own personal beliefs. This is proven through the car company Tesla, a company founded on a strong environment and company ethics. CEO, Elon Musk founded the company based on the environmental goal “to accelerate the advent of sustainable transport by bringing compelling mass market electric cars to market as soon as possible” (Musk). This company has strong ethical business practices, as it believes so passionately in this sustainability goal that instead of patenting their electric battery and capitalizing the market, they made the design open to anyone.…

Related Documents