In today’s business world, the word ethics is often treated as something extra, a decorative concept. Many believe running a business based on ethics means walking a harder path or expecting less profit. But in reality, ethics is not just an ideal—it is essential for survival, growth, and creating lasting impact in society.
What Does Ethics Mean in Business?
Ethical business means being honest and transparent, avoiding deception, prioritizing customer welfare, taking responsibility for society and the environment, and balancing profit with humanity. In short, every decision is guided by humanity and responsibility.
Why Is Ethical Business Important in Bangladesh?
The business landscape in Bangladesh is shifting. Young entrepreneurs today want not only profit but also positive social impact. However, we still see ignoring workers’ rights, lack of financial transparency, misleading customers, and promoting unnecessary consumerism. This proves that ethics is no longer just an “ideal”—it is a social necessity.
Without ethics, trust in society weakens, youth lose direction, “business = corruption” becomes the norm, and most importantly, unethical practices are not sustainable long-term.
How Lack of Ethics Damages Business
Many think “smart” or “tricky” strategies are the key to success. But history shows otherwise. Companies that grew fast often collapsed just as fast due to lack of ethics. Consequences include losing customer trust, lack of employee motivation and loyalty, legal complications, negative public image, and losing investor confidence. Together, these factors can destroy a business from within.
Benefits of Ethical Business
- Long-Term Trust: Customers and investors return when they believe your promises.
- Future Leadership: Ethical businesses become role models for young entrepreneurs.
- Positive Social Impact: When your goal is more than profit, your initiative becomes truly meaningful.
- Spiritual Fulfillment: From a faith perspective, halal earnings bring peace of mind and divine blessings.
Ethics and Sustainability Go Hand in Hand
Today, brand value, customer retention, and investor interest are all tied to ethics. Think about Apple, Patagonia, Basecamp, or halal/ethical startups. Their strong ethical stance is what creates trust. Bangladesh is also moving in this direction. Now is the time to step forward.
Final Thoughts
Running a business with ethics does not mean falling behind. It means building a sustainable, respected, and influential brand. The challenges are real—but the results are deep and lasting.
Ask yourself: Is business only about profit, or is it also a tool to shape society? Your answer will define whether you are just a businessman—or an “Onnorokom Entrepreneur.”