In the 21st century, businesses are faced with a lot of ethical issues – more now than ever before. All companies have the responsibility to come up with ethics that all employees should abide by and put into action. Before you start a business, you will face ethical dilemmas during the process. In this article, you will learn about the ethical dilemmas most people face when they are running their startup.
When you are considering job applicants for your business, you need to ensure that nepotism does not drive your decision making. It is not only unethical to hire someone who is unqualified, but you are also harming your business if you do not hire the best person for the job. Before you start your business, ensure that your primary goal is success. As a result, nepotism will not stand a chance.
- Overworking your employees.
In some cases, small businesses ask for so much from their employees without knowing. To be able to meet your standards, your employees end up using nootropics to enhance their performance and match up to your pace. As the business owner, you need to know when and where to stop. If you come up with a marketing department and assign someone, do not push that person to another department because you need more help there. Let all employees perform the tasks you signed them up for.
- Having control over how your employees behave.
In today’s world, as a business owner, you should set up your policies on discrimination, bullying, and harassment so that all members of your team will be safe and feel welcome. If any of these policies are violated, there will be consequences. Since you are the boss, it is your responsibility to make sure all your employees know what is expected from them. Cultivate a culture of respect, and everyone in your business will be happier and more effective.
- Claiming income
Since you are planning a start up, most jobs or projects you work on successfully will be paid in cash. Therefore, it becomes tempting to hide the income instead of reporting it. In business, you have to be disciplined at all times. For your business to achieve growth, everyone in the system has to be transparent and make sure that all expenses and taxes are paid on time. Save money wherever possible, but make sure its ethical.
- Not being honest when looking for funding.
While looking for an investor, you might get tempted to exaggerate some things. The downside of doing that is the fact that you either end up losing the investor’s trust or commit yourself to a timeline that is unrealistic. Before you start a business, you only need to be optimistic and realistic. Since you are new to the business, you do not know all the challenges. Therefore, you have to be prepared for anything. Openness and honesty will get your business a good fit.
- The temptation of merging your personal and business account.
As mentioned earlier, it can be tempting not to report income or to tap into your business account when you need extra cash. Such behavior is dangerous to your business. When you start your business, ensure that your personal and business finances are separate. Be reasonable with your expenses and never neglect to pay your taxes.
Running a business is difficult enough. Don’t make things harder by being dishonest or unethical in your dealings. It is said that “nice guys finish last,” but it is a lot easier to sleep easy at night when you know you have been fair and honest in all you do. Decide today where you will stand when these situations arise, and life will be easier down the road. Your future self will thank you.