At the best of times life is competitive, however, with the about-turn of the economy the signals are of uncertain times and competition can take on other dimensions. New business start-ups, freelancers and home-workers have resulted as reaction to the downturn. Indeed, Step-Up Finances’ A Series; subtitled Outside the Box demonstrates the creative attitude of people in business in general. Such creative approaches in business are usually admired. The qualities of independence and risk-taking can be engaged in either corporate environment or as an entrepreneur.
Adam Smith’s publication, which preceded Wealth of Nations, stated the two basic virtues of modern market society also relate to society in general; Justice and Benevolence. So what of business ethics?
The fundamental business ethic is trust and trust in business can be secured by legal safeguards. A new phrase, taken from Yiddish for `overcharge`, was coined during a time of rising house prices and destroys all element of trust. To be Gazumped is to be at the receiving end of this unsavoury and ugly practice and usually results in the gazumped being out of pocket. Role Models of business are those that show good practice; whether Regulated or not. When it comes to general traits and habits of our Bankers and Government the basic virtues of justice and benevolence seem to be greatly missing, therefore with such examples of how to behave in a chaotic market it shouldn’t have come as a surprise to us that the practice of gazumping has raised its mean head again.
Does this mean that business ethics are an oxymoron – Or is this just a sign of our times?