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Send  Share  RSS  Twitter  05 Jul 2012

BUSINESS ETHICS: Ethical Business Practice = Best Business Practice

 





Recent Gauteng Business News

As ethical consumerism continues to gain momentum in South Africa, many companies are facing a challenging turning point in the way they conduct and manage their day-to-day business. While ethical and sustainable business practice remains complicated, gone are the days when businesses could simply claim to promote good business ethics and expect consumer ‘buy in’. Consumers, as supporters of these companies, are now demanding that they ‘walk the talk’ and provide proof thereof.

“Ethical decisions are becoming important to South African consumers and their purchasing decisions are increasingly influenced by issues such as global warming, carbon footprints, Fairtrade, animal welfare and good governance, with corporations becoming aware of the importance of being perceived as ethical traders,” says Peter Townshend, managing director of Ethical Living, which provides ethical and sustainable consultancy services to businesses looking to both understand their current business practice situation and implement measurable targets towards a more sustainable and accountable business.

With a thorough knowledge of ethical issues, in-depth research into the environmental and social performances of companies, and a comprehensive database of companies and their behaviour, Ethical Living is able to provide a wealth of information and expertise to these organisations.

Questions companies should ask to determine how ethical they are include:
• With whom are we doing business‘
• Is any harm or suffering caused by our organisation‘
• How can we reduce our impact‘
• How and with whom are we investing our money‘
• Who are we helping‘
• Do we positively contribute to society‘
• What is the difference in salary between our lowest paid and highest paid employee‘ How can we narrow this gap‘
• Are we transparent‘
• Do we market ourselves in a manner that it is truthful and is the messaging a clear and fair reflection of our products, services and behaviour‘
• Are we constantly trying to improve our sustainability‘

Ethical Living’s consultancy aims to provide organisations with detailed information on how to manage their businesses in the most ethical manner, including the provision of thorough research in the form of company screenings of suppliers or service providers in the company’s supply chain. By using a consultancy service, companies can be assured that they not only operate as ethically as possible, but that every company in their supply chain does so too. This is of great benefit when being scrutinised by the public, who are increasingly demanding that the companies they support operate within well-defined ethical ideals.


 
 
 
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