Highest Ethical Behavior

The core value that we chose today is Highest ethical behavior. We believe this value is important as pertaining to three objectives.

Build Customer Loyalty

If a customer/client feels he’s been slighted by a company, he will not be a repeat client/customer. Having a loyal core customer base is one of the keys to long-term business success because there’s no marketing cost associated with existing clients/customers. Furthermore, A company’s reputation for ethical behavior in the marketplace can bring in new customers(word of mouth). On the other hand, a reputation for unethical behavior hurts a company’s chance to acquire new clientele especially in this age of social media(Facebook, Twitter and the likes) customer can voice their concerns and can reach millions of individuals within seconds

Retain/Acquire high quality Employees

In the event that a company does not display high ethical standards

-Current employees might look for opportunities somewhere else

and prospective employees will not want their brand to be associated with a company that does do things the right way

so in essence a lose-lose situation

Avoid Legal Problems

At times, a company’s management may be tempted to cut corners in pursuit of profit But this can have nefarious both short and long term ramifications. Short-terms penalties would include legal fees and fines or sanctions determined by governmental agencies. Longterm setback would be the negative publicity which would damage to the company’s reputation and might be more costly than the legal fees or fines.

So Ethical behavior is of the utmost importance in any organization and should indeed be an essential component of a company’s culture.