5 Ways to Demonstrate Your Commitment to Ethical Entrepreneurship

4 Mins read

There is a growing trend these days towards businesses trying to be a little more ethical than they might have been in the past. This is certainly a trend that is very welcome for most people, and the more that businesses take this particular mantle on board, the better the world will be on the whole. The truth is that all businesses can and should do their part in being more ethical, and it is just as important for small and medium sized businesses to focus on this as it is for large multinational corporations. Of course, you might be raring to be more ethical with your business, but a little unsure as to how to go about it, and for that reason you might need to think about what you actually need to do in practical terms to make it a reality. In this post, we are going to look at exactly that, so that you can expect to run a much more ethical business in no time.

Ethical Entrepreneurship

Shutterstock Licensed Photo – By Gorodenkoff

Creating Products

One area that is worth looking into here is the creation of your products. You need to make sure that you are creating all products in a fair and ethical way, as this is one of the major kinds of output that your business has. As long as you get this right, you will find that your business is generally going to be considerably more ethical on the whole. But what does it mean to have an ethical product development process? There are a few key concerns here which you might need to look into first and foremost. Most of all, you need to ensure that you are not using too many materials which are not good for the environment. Avoid making your products out of plastic, if you can help it, or stuffing the packaging with polystyrene. There are much better solutions for these things, which are going to be much better for the planet, and you should make sure that you are using those instead. As long as you create products in an ethical way, you will find you are moving in the right direction generally.

Sourcing Supplies

It is impossible to truly consider your business to be ethical if you are not trading with ethical partners. You are as much determined by the ethics of those you do business with as you are by the actions of your own company, so you need to make sure that you are being careful about who you choose to supply you with the materials, tools and equipment that you might need. The question here, of course, is how to be sure that you are sourcing your supplies from a partner that you can really trust to be ethical. That is not something that you can answer all that easily, but as long as you spend some time finding a business to supply you who appears to be ethical – and you really vet them to make sure of that – then you will find that you are going to feel much better about who you are working with. When it comes to products which might not be as good for the planet, such as C/D/N Isotopes deuterium labelled products, you can be sure that the ethics of the business involved is going to be the most important thing, so make sure you look into that as best as you can.

The Right Core Values

From a top-down approach, you can make sure that your business is going to be more ethical in general by ensuring merely that you have a number of core values based around that approach. It is one thing to say that you want to operate in an ethical manner, but it’s a sign of real care that you actually put in writing what kinds of ethical values you are going to adopt in such a way that you can actually make sure it is a reality. Once you have written down your core values, whatever you might decide those are, you can then make a point of sharing them with everyone in your business, and making sure that they are well known. You might even want to provide training on these values, to make sure that they really do become part of the unconscious life of your business. Do that, make sure you act on them, and your business will be much more ethical indeed.

Focus On Community

No matter how big or internationally relevant your business might become, it is important to always remember that it is also still just a local business, based somewhere specific. That location is your home and always will be, and you need to make sure that you are paying enough respect to that community if you are to be ethical in your business and your way of going about things. You need to ensure that you are focusing on your local community first and foremost. That means that you offer jobs to those in the local area first, that you advertise locally and distribute products there first, and that you maybe even give a little back to the local community in whatever way you can as well. You will find that the people in that community really appreciate that, and that will bode well for the future of your business too.

Share Profits

If you are to make sure that you are going to be able to be ethical in a financial sense, then there is one clear way to do that: make sure you share some of your profits around to those who are in need to some degree or another. Sharing profits is not absolutely necessary, of course, but if you make a point of doing so then you will find that you are much more likely to feel that your business is acting ethically. This is one of the easiest ways to give back, and something you can do very easily.

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About author
Ryan Kh is a big data and analytic expert, marketing digital products on Amazon's Envato. He is not just passionate about latest buzz and tech stuff but in fact he's totally into it. Follow Ryan’s daily posts on Catalyst For Business.
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