Ethics – There are no externalities in business!
Why are ethics important for a business? Not only are “good managers morally strong managers” and do “good ethics mean good business”, but ethics also makes businesses sustainable.
As a first year BCom student, an environmentalist and a socially conscious Gen-Zer, I am wary of the control of the corporation on our everyday lives. From the brand of cereal I eat for breakfast to the overhead ads on the bus I take to school and the commercials I hear on the radio, I spend my life inundated by the propaganda of the corporation. But primarily as humans, we are citizens of the world and the environment around us before we become businessmen. Putting our the advancement of society and the protection of the environment should be the front and foremost requirement before the earning of profit should be considered.
This means that THERE ARE NO EXTERNALITIES. Environmental concerns will come bite you back in the behind if you continuously use up natural resources are not aware of conservation. At the end of the day, your business will be forced to end if it is always focused on taking and not giving back.