0
Lots of free time? Okay, maybe customers will stay with you longer and even pay higher prices knowing you won't deliver shoddy products or whatever. Since they stay longer you have less advertising than you would have if you had to generate brand new customers each time. And with older, reliable customers you have an idea of the credit risk as opposed to new customers. And you have an idea of the amount of complaints that old customers present compared to new.
Wiki User
∙ 15y ago
Add your answer:
Earn +20 pts
What are the advantages of companies being ethical?
Ethical business can succeed under various advantages from value guided business practices. Ethical business can reduce environmental and marginal social costs from green policies to better employee treatment. Ethical business can preserve system integrity through committing to responsible accounting and trade and finance behaviors. Such steps could have prevented the Arthur Anderson scandals, and at worse the meltdowns of Bear Stearns and Lehman Brothers.
What are the ethical issues of a business?
The ethical issues of a business are the fundamental principles that apply in a business. The most basic ones are integrity and honesty among others.
What are the Advantages of business letter?
what are the advantages of a business letter?
Why are fairness and honesty in business important ethical concerns Give examples?
are fairness and honesty in business important ethical concerns? give examples
What are some advantages of being a business credit card holder?
Business credit cards have several advantages. One, a much higher credit limit is usually offered. Also, the interest rate is usually much lower due to the financial backing from the business itself.
Being ethical in business is no longer a luxury?
being ethical in business is no longer a luxury. it a necessity
What are the advantages of companies being ethical?
Ethical business can succeed under various advantages from value guided business practices. Ethical business can reduce environmental and marginal social costs from green policies to better employee treatment. Ethical business can preserve system integrity through committing to responsible accounting and trade and finance behaviors. Such steps could have prevented the Arthur Anderson scandals, and at worse the meltdowns of Bear Stearns and Lehman Brothers.
Advantage and disadvantage of business ethics?
Business ethics are great for businesses because customers don't like doing business with unethical managers. A disadvantage to being ethical is the fact that money can be affected by being ethical.
Being ethical in business is not possible in curreny environment?
yes
What standards does the legal environment in regard to ethical behavior in business?
In a business setting, being ethical means applying principles of honesty and fairness to relationships with coworkers and customers..
Disadvantages of being ethical in business?
A danger of building up false expectation.
Can a business be successful and ethical?
Yes, a business can be successful and ethical because in many cases a business will become more popular when it is ethical. Many people choose to frequent a business because of its ethical standards.
Why should managers be concerned with ethical business practices?
Without being ethical, companies cannot be competitive at either the national or international level.
What are the advantages and disadvantages of business ethics?
There are both advantages and disadvantages to business ethics, but mostly are advantages. The advanatages are the company will have an increase in reputation, more employees will enroll in the company, employees feel more motivated to work, customers have more trust in it. However, some companies will have difficulties to keep us with that standard - maybe it will be expensive to be an ethical business.
What are the advantages of MBE?
There are actually advantages to being a certified MBE (Minority Business Enterprise) and there are advantages to doing business with an MBE. Doing business with an MBE opens a business up to the opportunity to obtain government rebates that are offered as incentives. Also, the advantages to being a certified MBE are that for certain companies or organizations doing business with an MBE is incentivized and also MBEs can partner with larger firms to gain access to more resources.
Advantages and disadvantages of being a small business?
Another advantage of having a small business is greater profitability
The primary responsibility of ensuring that ethical standards are adhered to within a business rests with?
Managers monitor employs to ensure they are being ethical. When they find that they are not, they report them to the human resources department.
