Practicing strong honest business ethics is one of the most important attributes for any business. These ethics become the heart and soul of a company’s culture. The quality of a business’ ethics can mean the difference between success and failure. Companies that display a commitment to ethical conduct usually out perform those that do not. A business that instills a deep-seated theme of business ethics will be evident among customers. The Institute of Business Ethics (IBE) put together some findings that can be considered an important insight for any company; these are known as the 7 principles of business ethics (Moment, 2007).
1. Be Trustful. Recognize that customers want to do business with a company that they can trust.
2. Keep An Open Mind. The leader of an organization must be open to new ideas.
3. Meet Obligations. Do everything in your power to gain the trust of past customers and clients.
4. Have Clear Documents. Re-evaluate all print business documents and make sure they are clear and do not misrepresent the company.
5. Become Community Involved. Remain involved in community-related activities and issues.
6. Maintain Accounting Control. Take a hands-on approach to accounting and record-keeping.
7. Be Respectful. Treat others with the utmost respect.
There are a variety of ways to do business in a foreign market. The way we are proposing to move our shoes is through exporting. This is the most traditional form of operating in foreign markets. Exporting is the marketing of goods produced in one country into another country. Even though no direct manufacturing is required in the foreign market and marketing str ...