Why Bother with Business Ethics? - PowerPoint PPT Presentation

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Why Bother with Business Ethics?

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Many people don't see the financial payoff for having strong business ethics. Customers will base their decision whether or not to shop with you based on your business ethics. Learn more about the several ways that ethical behavior can actually make your company money. – PowerPoint PPT presentation

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Title: Why Bother with Business Ethics?


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Soft Skills Training Specialists
Why Bother with Business Ethics?
2
Soft Skills Training Specialists
  •  Several ways that ethical behavior can actually
    make your company money.
  • Customers choose ethics.
  • Customers appreciate ethics.
  • Employees are more loyal to an ethical
    company.
  • Ethical companies are more productive.
  • An ethical office means lower legal costs.

3
Soft Skills Training Specialists
  •   Customers choose ethics
  • Customers will base their decision whether or
    not to shop with you partially on ethics.
  • Ex If you had a choice between two car
    salespeople, one who has a reputation for selling
    stolen vehicles and one who has a reputation for
    ensuring that the customer gets all the
    information about a vehicles past, which would
    you choose?

4
Soft Skills Training Specialists
  •   Customers Appreciate Ethics
  • Who admits their mistakes, especially when it
    costs them money?
  • Ex Lets say youve purchased a television from
    a local electronics store. The company calls you
    back the next day to let you know that you
    actually overpaid for the TV and that a check for
    the overcharged amount is in the mail. Do you
    appreciate this?
  • Ethics like this would probably increase the
    chances of you shopping at that store again!
    Customers reward ethical companies with loyalty.

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Soft Skills Training Specialists
  •   Employees are more loyal to an ethical company
  • Working for a company that lies, cheats,
  • and steals is probably a company that will do the
    same to you.
  • This worry is likely to make you less loyal as
    an employee.

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Soft Skills Training Specialists
  •   Ethical companies are more productive
  • Studies have shown that employees in ethical
    offices take less time off and are more
    productive
  • Content employees makes for productive companies

7
Soft Skills Training Specialists
  •   An ethical office means lower legal costs.
  • If your employees are in the habit of lying,
    cheating and stealing, someone is going to get
    caught. This makes for a Big Legal Headache!!!
  • Taking immediate action and removing unethical
    behaviour from your office is your best practice.

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