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Hey! Amazing individuals, discussing #Ethics of Online Business can become a hot debate. Of course, being ethical is not merely following “whatever society wants” and it’s neither following the law. So, what are online business ethics – and what determines them?
Once upon a time, sociologist Raymond Baumhart asked business people, “what does ethics means to you?”, and here are the answers he obtained,
“Ethics has to do with my religious beliefs”
“I don’t know what the word means “
“Being ethical is doing what the law requires”
“Ethics has to do with what my feelings tell me is right or wrong “
Michael Joseph once said, “there’s no such thing as business ethics, there is just ethics and ethics makes no concession for the real or imagined necessities of making a profit”
Moreover, Jack Ma once said, “Never deceive others, in business or in life. In 1995, I was deceived by four companies – four companies that are now closed, a company can not go far by deceit.”
E-Commerce companies should concern about the ethical aspects in order to maintain a healthy atmosphere for their customers.
It’s crystal clear in the E-Commerce industry, that there are a few globally accepted factors that determine the ethical aspects of the business.
1. Transparency
Clarification and clear communication pave the way to a clear representation of facts where the transparency will be higher. This is one of the most important factors of online business ethics.
2. Integrity
The company should be governed by strong, clear, policies & guidelines, and related learning materials. This will enable the customers to see a strong reflection of honor in your business.
3. Trustworthiness
No matter whether in online or offline mode, the act of fulfilling commitments and promises to your customers is a main obligation of the company.
4. Loyalty
Loyalty makes a mutual understanding and it enhances the bond between the customer and the owner.
5. Fairness
The business operation should be carried out in a fair manner. Fairness and equality should be demonstrated by the company in hiring practices, marketing initiatives, business partnerships, and competition within other e-business industries.
6. Compassion
Concern about others or simply having compassion helps the company to serve a large number of customers with the least number of complaints and damages.
7. Respect
Respect for the privacy, rights, and dignity of the consumers is one of the most important ethical acts.
8. Lawfulness
In order to maintain a safe environment, online businesses should implement a legal framework bounded by laws, rules, and regulations.
To summarize this entire article in case you’ve missed anything, the factors which determine the ethical aspects of online businesses are:
- Transparency
- Integrity
- Trustworthiness
- Loyalty
- Fairness
- Compassion
- Respect
- Lawfulness
Online business ethics are extremely important and the more you practice these ethical behaviors the more you gain the highest consumers with the least complaints.
Moreover, you can become a successful businessman while enhancing the fragrance of your E-business among the consumers. So just give it a try! Always remember if there’s “no pain – no gain”.
If you enjoyed this article, please leave your feedback in the comments section. I would love to hear the thoughts and opinions of our readers! And if you have any questions, please feel free to contact us via biz.smartiac@gmail.com or our social media channels.
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Nice work🙌❤
Thank you, Veenavi!