Ethics and Business Risks

The business world is often described as a dog-eat-dog world. It's a scary place out there. So much competition and drive. So many dreams trying to be achieved. Among all of those different aspects, what would you say is the most important thing to achieve in this process? ETHICS! The big E word. I would definitely say you could base everything (okay almost everything) off of ethics. Start from the bottom up. Work your way to the top and do it honestly and ethically. It may be harder than doing it the other way but it will be so worth it in the end. 

Back in High School I worked for a company where everything- paperwork wise, was all falsified. When I first became a manager, I was so scared to sign reports at night saying I had completed certain tasks because eventually, I knew things were going to fall apart but those reports stated otherwise. I left to attend college, corporate came in and ultimately found out what had been going on. Employees were let go and other plans were put into place. How hard is it to not sign a piece of paper if what you are claiming is untrue? Not very hard. It cost people their jobs. I look back at that often and wonder what would have came of me had I not been around. Ethics is always the way to go, whether it takes longer, costs more, it's work it in the end. 

Among other things discussed this week, was business risks. This is a hard one especially for those just getting on their feet. You finally have the financing for your business but you need just a little bit more. Do you go back and ask for another loan or do you invest your own money? You invest your own. If you aren't willing to put your personal money in, then maybe it isn't a good investment to begin with. People are stingy with their own money. Not so much with others but more than not, you don't want to throw away your own hard earned money. Look at the outcomes, look at the investments and decide if this is a good enough venture for not only the banks money but your own. 

Business is about tactics but I also think it's about heart. You have to use your brain but sometimes it is essential to use your heart also.