Even though retailing faces many tough times, it is important to maintain good business ethics. Retail ethics have become obvious in the marketing ethics. Retail ethics extend to stakeholders, employees and…
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One of the common unethical practices in retailing is lack of honesty. Lack of honesty is unethical because when a business man or woman fails to be honest to his/her employees and customers, it will highly affect their trust. Most clients like to trust the people who give them the products they need, and when a retailer fails to be honest, most of them tend to run away from the retailer (Robinson, 2009). Most customers question the ethics of their retailers and, therefore, it is vital for the retailers to be honest to their customers.
Dishonesty is an unethical practice in retailing and it comes with consequences. First of all, lack of honesty in a business can lead to the loss of customers. For instance, many customers will run away from a dishonest retailer because they cannot trust him/her anymore. In addition, it can affect the business’ economic stability especially when customers are gone because of lack of honesty. Unethical sales practices such as dishonesty can also cost the employees and the community at large. Most employees will always leave after they realize the management of the employers are not honest with their clients. Employees will be happy if the employer is honest with them because retail business plays a vital role in the lives of the people in the community.
Dishonesty in retailing can lead to legal consequences and possible lawsuits. Whysall (2009) highlights a case where a customer was sold a counterfeit electronic product. The retailer had stocked counterfeit Sony items intentionally. Upon realization, the customer filed a law suit that he was deceived prior to the transaction (Whysall, 2000). In the legal proceedings, the retailer was found for guilty for malpractice and counterfeiting. The retailer’s permit to operate was revoked. In addition, the customer was compensated in full for the money spent
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Personal codes of ethics exemplify a relatively new trend, when reflect the striving of individuals to fix their ethical commitments and beliefs on paper. Any personal code of ethics must include rationale, ethical statement, rules, and enforcement procedures.
This necessity is not only driven by precautionary measure to prevent the occurrence of less than ideal business practice that would diminish the stature of the business among its stakeholders, but also as a strategic option because businesses that are perceived to be ethical enjoys the confidence of the market and consequently the customer’s patronage and profitability.
It requires people to consider if their actions are right or wrong. It also asks people how the components that help them succeed, for example, compassion, integrity, faithfulness, and honesty are relevant in everyday life. Ethics looks at the fundamental principles and basic concepts of human behavior.
One of the major aspects that are adopted by firms is the code of ethics. This entails a set of principles that guides a firm in its policies and programs. Ethical philosophy is applied in every department within an organization. This paper aims at discussing the ethical
n than not comes with close contract with deontology that stresses on duty to rules and eventually consequentialism that determines the wrongness or rights from the happenings of a particular action. The approach of moral dilemmas rather than the moral conclusion proves to be a
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