We live in such a competitive business world that if a company suffers any damage to their reputation, there is a wealth of alternatives for disgruntled customers to turn to, thus causing the company to undergo financial loss. As stated in a recent article in the Daily Monitor1, maintaining good ethics can and should be used as a tool to aid businesses in connecting with the community. The most successful companies in today’s market put great value on upholding their reputation through making sure that their business is based on a solid foundation of smart and acceptable ethics, thus making matters of public relations very important. We have been shown in class an example of a company that has very poor ethics and public relations: RyanAir. Even though RyanAir is, at the moment, very popular, I believe that if they continue to ignore good ethics by having hidden fees and generally unfair policies, the public will eventually become sick of being mistreated and RyanAir will run into financial trouble. Ultimately, a business that is not built on an ethically sound base will suffer the consequences of poor public relations: financial failure.
1 http://www.monitor.co.ug/Business/Smart%20Money/-/688614/1011488/-/4fmeafz/-/