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Importance of Business Ethics | 8 Rules to an Ethical Business

Importance of Business Ethics

Importance of Business Ethics

8 Rules to an Ethical Business


The Importance of Business Ethics…Hmmm…Can we use the terms Business and Ethics in the same sentence?

Of Course….


Importance of Business Ethics

Ethical Business Practices? Some of my friends laugh at me when I put the words Ethical and Business together in the same sentence…


Can not a business be both ethical and thriving at the same time?

We do not have to be all like scumbag “Enron’s” or similar types of rip off organizations.

By adhering to basic ethical practices and not be swayed by devilish schemes, I do believe that the two can exist together.

This Mindset of ethical practices is thousands of years old and the beauty of it is that it can cover all aspects of one’s life.

Today I am going to show its use in a Business Application. 

Importance of Business Ethics

Read what Mark Carney (Head of the Bank of England) has to say about the future of Capitalism :

“Capitalism is at risk of destroying itself unless bankers realize they have an obligation to create a fairer society, the Bank of England governor has warned.”






Importance of Business Ethics

8 Rules to an Ethical Business


  • Right Perspective

You must understand that everyone has a problem, and in that realization you can start down the thinking of

          Right perspective>Right Thinking>Right Actions.

  • Right Intention

You must be doing this for the right reasons- not selfish greedy ones, remember you are solving someone’s problem!

          The by-product of good solutions is sales!

  • Right Words

Words are very powerful so you must insure that you don’t lie, don’t deceive, do not slander your competition, no offensive words, no gossip “

           In other words, Tell the truth, speak friendly, warm and gently and talk only when necessary

  •  Right Actions

           Don’t practice in Fraud, Deceitfulness, or Dishonesty

  •  Right Livelihood

          Your business should be legal and do not violate # 3 and #4.

  •   Right Effort

Without effort nothing can be achieved. Mental energy is the driving force behind the right effort. You can either use it to be positive or negative. After all it takes the same amount of energy for both, except that positive energy keeps you on task

  •    Right Mind

Creative thought usually starts with an impression (aware of a problem) and from there we conceptualize the impression, however in order to do this our mind must be absent of any distractions. (I usually go for a long walk to clear the mind). With a clear mind, concepts become vivid.

  •     Right Concentration

      By clearing your mind you are then free to develop your “One Pointedness” of your thoughts.

Developing your “Mental Work space” takes time and self discipline  to get it right. but when you do…all new doors open.


Keeping in mind that the importance of business ethics also has a Trust Factor… The more you are seen as ethical ..the more trust and confidence your prospects will have in you…

Here are some interesting Stats:

A survey conducted by YouGov (which tracks public opinion) for the Institute For Family Business (IFB) has just found that family companies are more than twice as likely to be trusted than listed businesses. The IFB found:

“Values are key: 88% say an important factor for a company to be trusted by them is that it has strong values. Some 53% say family businesses have stronger values than other companies  – only 9% disagree.”

This says something about how we equate Family Business with Ethics.



In this world that seems, at times, not very ethical, a business can practice solid ethics and still survive the long haul.

By setting your business on the moral path, as mentioned above, you will not only be seen as a trustworthy source…your long term survival may well depend on it.

The Importance of Business Ethics has never been more important than it is today !

These are Companies that I promote and feel they have a strong Ethical Standard…




About Author: Bruce Frazer
Bruce has been in the Sales & Marketing Arena for over 40 Years. His ability to reverse engineer sales funnels has made him a leading expert on funnel creation and campaign building. Bruce's Motto - "Lead Generation (List Building) is the Only Biz You Are In" Bruce's other interests include Music, as a listener and Performing Artist, Muskie Fishing , Culinary Arts and of course his large extended Family.

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