Managing and controlling Ethics Programs
Business Ethics is a crucial area that organizations should focus on this viable economy. There is a need for organizations to adopt a triple bottom line framework where they not only make profit but also have an ethical obligation to give back to the community. However, some organizations overlook the value of business ethics and mistreat clients. For this reason, there is a need for ethical programs like the Better Business Bureau, a practical network that is concerned with fair business practices and provides a basis for organizations to examine itself from a multitude of stakeholders’ perspectives regardless of the size.
External forces shape the operations of small businesses. Since unethical activity reflects on honest members of the business community, the Better Business Bureau (BBB) is the best technique for carrying out formal ethics audits in smaller companies. Consumers are the most critical stakeholders of the Better Business Burea. From the stakeholders’ point of view, the Better Business Bureau assists administrators in appreciating the importance of stakeholders’ ethics. It avails information to consumers regarding businesses in their community. Their principles for trust center on honesty and abiding by values that please clients such as transparency affect the choice of customers to buy. Consumers, therefore, prefer buying goods and services from BBB certified companies because such certifications mean that a company meets high standards of trustworthiness.
The BBB also makes a strong effort to resolve customers’ disagreements and grievances through their rating method. This system was invented to push businesses to improve in ways like attending to and resolving customers’ claims in time. Those who fail to address these issues get lower grades. As a result, prospective clients can discover companies that respond promptly and adequately. They can also know the companies that ignore consumers’ complaints and mistreat them. This role is significant in assessing manipulative cartels and acts as a basis for understanding a company’s satisfactory level. Given that BBB is prevailing and trustworthy in appraising companies, clients are more prone to paying more for similar services or products on the off chance that they choose a BBB part business because accredited organizations must balance for what it paid to BBB by increasing the price.
In summary, the primary obligation of BBB is to take legal protection to clients. It provides a basis for organizations to examine itself from a multitude of stakeholders’ viewpoints. This facilitates the development of shared expectations. It is also essential in creating fair dealing, good faith, and trust.
Longnecker, J. G., Petty, W. J., Palich, L. E., & Moore, C. W. (2017). Small business management: Launching & growing entrepreneurial ventures. Mason, OH, South-Western Cengage Learning.