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Today’s organizations are facing stiff competition due to rapidly changing trends, unending advancements in technology and above all the knowledgeable customers. On the other hand profitability is the basic and utmost requirement of an organization to survive in such a highly competitive and turbulent environment. 

In some situations, it becomes very difficult for organizations to create a balance between the ethical practices and profitability. In your opinion how is it possible for an organization to continue business maintaining a good balance between the profitability and ethics?

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I'm not sure how to answer this question, but here are some "ways" through which a company can maintain a good repute (keeping intact basic ethics) alongside a steady flow of profits.

(A) MANAGEMENT. The ethical stance of a company originates from the consistent integrity of its senior officers. From the first day in business, they inform all employees that the primary focus of the organization will be equitable and unbiased service. Customer satisfaction will always be given top priority. 

These objectives should be proclaimed proudly in all media advertising. Members of the public, frustrated with the half-truths and price-gouging so prevalent in business today, will be more than willing to give this refreshingly honest enterprise a try. 

(B) STAFF. The employees must also be committed to the maintenance of high ethical standards. In turn, they, themselves, must be treated as valued members of the organization and be well compensated for their work. Overtime hours and contributions to the efficiency and improvement of the operation must be recognized and rewarded. 

The staff will become ambassadors of goodwill for the organization. Word will soon be spread around the community that the company is a great place to work,vustudents.ning and there will be no shortage of skilled and qualified workers anxious to come on board as the company grows. 

(C) CUSTOMERS. With competent workers, high ethical standards and an overall commitment to excellence, any organization will very quickly secure a nucleus of satisfied customers and all their repeat business. 

Of course, there will be the occasional slip-up, whether through accident or human error, but when it happens, every employee will go out of their way to make amends and ensure that the customer suffers as little cost and inconvenience as possible. Steps will also be taken to assure that particular mishap will not be repeated. 

( D) THE COMMUNITY. The community will become your advertising agents. You will be recommended to the friends and neighbours, relatives and co-workers of your regular customers. Your reputation for high ethical standards, honesty, and good service will draw an ever-increasing number of new clients . Your greatest problem will be finding time and room to expand. 

(E) YOUR COMPETITORS. They will notice their customer base dwindling, and realize they either have to adopt improved professional practices or look around for another location outside the sphere of influence of your company and its satisfied and loyal customers. 

The link between business ethics and profitability is undeniable. Smart business owners know this. They repay their staff and customers by vustudents.ning being honest, trustworthy, conscientious, and by sharing some of the benefits and profits they accumulate through others' effort and loyalty .

Source: http://wrytestuff.com/swa524186.htm

Nadia hmmmm

Could add, that since the question itself talks about technology, organizations could avoid exaggerating about themselves over the internet. 
Instead indulge in some honest yet clever marketing techniques, through which they dont violate business ethics however attract customers at the same time.


Nadia thanks 

Discussions about business ethics are all too often a dispiriting dialogue of the deaf.

In the favour of profit

On one side are those who argue that anything which interferes with management's job of profit-seeking will reduce overall welfare by raising costs and prices and therefore by definition is wrong.

In the favour of Etics on the other side, who declare that polluters and others that externalise their costs on to society should not be allowed to get away with it: make 'em pay. 

The irony here is that both extremes share the same assumption: namely, that 'ethics' and 'welfare' are opposites. So it's war, or at least a trade-off in which you can only have more of one at the expense of the other. 

But what if that assumption were false and the reverse true? After all, the necessity for trade-off has been shown to be a fallacy in other areas where superior management consists precisely in reconciling the two ends of the spectrum. Thus the Japanese showed firms could produce goods that were both high quality and low cost. 

Professor Michael Porter - no liberal softie he - was arguing nearly 10 years ago that the same applies to the economy versus the environment. There is no fixed trade-off - firms can not only be both lean and green, but the one necessarily implies the other. 

Until now, research on the financial performance of 'ethical' versus 'non-ethical' companies has been patchy - which is one reason for the sterility of the debate. Now, however, the UK's Institute of Business Ethics (IBE) is claiming to have added substantially to the evidence that   virtue pays. In its report 'Does Business Ethics Pay?', the IBE finds that in a sample of FTSE 350 firms 'ethical' companies outperformed those which made no such claims on three out of four financial measures (market value added [MVA], economic value added [EVA] and price/earnings ratio). Between 1997 and 2001, it concludes, 'there is strong indicative evidence that large UK companies with codes of business ethics/conduct produced an above-average performance when measured against a similar group without codes'. 

If they hold up, these are important, even momentous, findings. But ethics are hard to measure. So before claiming too much, it's important to be aware of the provisos. The authors based their methodology on a previous US study by Dr Curtis Verschoor of DePaul University, Chicago, which also showed a positive link between ethical behaviour and superior financial performance. 

Verschoor used the mention of an ethics policy in the annual report as a proxy for being good. The IBE sought to improve on this by selecting companies that had actually had a published code of ethics in place for five years. Of course, even that doesn't prove anything in itself. Enron had a code of ethics, and in many respects a good one, according to Philippa Foster Back, IBE director. The problem was that no one followed it. 

To make sure that the companies were actually living by their code, the IBE researchers investigated how they stacked up in  Management Today's annual 'most admired company' league table, a survey of corporate peers and industry experts on non-financial performance aspects. This was cross-checked against a rating of the firms' 'socio-ethical risk management' (aspects such as poor corporate governance, lack of community involvement, human rights abuses) by specialist ratings agency SERM. 

The first finding was that there is a strong correlation between having a code of ethics, addressing non-financial risks effectively and being an admired company. In other words, having a code suggests that a company takes ethics    seriously. Thus, 19 out of 24 companies which have figured consistently in  Management Today' s  league table  over the past five years have codes of ethics and are rated more highly by SERM than those without codes. 

On the financial front, the IBE attempted to reinforce the US findings by extending its MVA measure (the difference between investors' 'cash in' and 'cash out') with a comparison of EVA (estimating true 'economic profit'), return on capital employed (ROCE) and price/earnings ratio. Here, again, the results were positive. Thus, over the five years, code-equipped companies did significantly better on MVA and EVA than their rivals - and the gap seems to be widening. There is also 'compelling evidence' that companies with codes have a more stable p/e ratio than those that don't. On the fourth measure, ROCE, the findings are less clear-cut, with the 'ethical' sample underperforming until 1999 but then overtaking their competitors. 

What might explain these results? While the link between ethics and performance is certainly strong, that does not prove the one causes the other. It might be, for example, that high-performing companies adopt codes of ethics rather than the other way round. 

Foster Back acknowledges that since Enron and others have proved it's not the code in itself which is important, the research has thrown up new questions about how the linkages work. The 'how' of the matter rather than the 'what' will be the subject of a forthcoming IBE research project. 

In the meantime, the supposition is that it is the way the values represented by the code are embedded in the organisation which makes the difference. The more the values are lived, the better and more consistent the decision-making at every level, the greater the amount of trust, the more confident and motivated the employees and the less the chance of costly damage to the company's reputation. The virtuous circle can be expected to embrace customers, suppliers and other stakeholders. Verschoor also takes this view.  

A different way of putting it, à la Porter, might be that anti-social behaviour is a kind of waste. On the green analogy, planning it out of corporate processes from the start is likely to be much less expensive than repairing the damage after the event. Being ethical, like being green, can promote innovation which steals a lead over less fastidious companies that persist along the 'ethics have no place in business' route. 

Either way, by strongly suggesting that there is no inherent contradiction between being good and doing well, the IBE findings signal a welcome shift of the ethics debate to more fertile terrain. How it works may still be a 'black box' which needs to be explored, but we can at least start from the IBE's cautious assertion that 'having a code of business ethics might... be said to be one hallmark of a well-managed company', rather than a waste of shareholders' money.

 shabbir ghuman gud keep it up & thanks 

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