Rules are expedient in life and business. In a business environment, there can be no place for any unethical business practice. There exist a business code of conduct that anyone operating in that niche must adhere to, meaning you must follow some basic guidelines which are;
- to be fair at all times
- always give honest opinions etc.
These guidelines are there to guide you against any unethical business practices that can ruin your business and future. If you have doubt about your way of doing business or engaged in any unethical business practices that have become a burden and a risk, then it is time to correct the situation because ignoring them does not mean they are not there.
But what does unethical business practices really mean? Who creates the business rules or code of conducts, that every so called businessman must follow? In any case, what an individual or organization does determine what is ethical or unethical. Business or professional ethics stems from the moral and socially acceptable behavior. Whether we like it or not, society can somehow dictate what is right and wrong. In business it is the same, the rules and regulations of the land can determine what is ethically wrong or right.
Moreover, these norms of socially acceptable behavior are not just based on the laws but sometimes on the morality of the person as well. So for example, if you are scheming or somehow manipulating the market prices or not paying the right taxes to your government by doctoring the records, then you are not just breaking the law but also engaging in unethical business practices, which may affect you in future, if you are eventually caught.
Bear in mind, the code of conduct is created for a reason and that is to protect you and other people. It is also a way to help you grow and monitor your progress, and the most vital thing is to maintain a balance in everything you do in business. In fact, if there are no laws or regulations that will keep us in check, then how in the world can anyone accomplish anything ethically?