A billionaire is someone who has assets worth at least one billion dollars/unit of currency such as dollars, euros or pounds. In general, those who are in a billionaire condition are those who have a growing business or at least they have assets that can add value to their wealth.
However, a billionaire in carrying out his business activities, should not only pay attention to the profit aspect. He must pay attention to other aspects such as ethics. So, why is ethics in business so necessary and an important spotlight for someone who is running a business?
Business is defined as an activity that provides goods or services that are needed or desired by consumers. This business activity can be carried out by corporate organizations that have legal entities, companies that have business entities, or individuals who do not have legal entities or business entities such as street vendors, stalls that do not have a place of business permit and a place of business permit and other informal businesses.
The word business comes from the English language, namely “business.
” The word business comes from the root word “busy” which means “engaged in action: occupied.” Busy can be interpreted as doing activities and jobs that bring profit. Therefore, etymologically, business is defined as a situation where a person or group of people are busy doing work activities that can generate profits.
The main business goal is to get returns economically by producing and selling goods and services needed by the community. But in a broad sense, the purpose of a business is not just a return but can also provide other benefits, such as
1. To get a return,
2. To provide goods and services needed by the community,
3. To improve the welfare of business owners and the community, especially those around it,
4. Creating new job opportunities for the community,
5. As an effort to show the existence of the company in the long term,
6. Increasing the economic growth and progress of the community, especially those around the business, and
7. To demonstrate the achievements and pride in the general public. In addition to these goals, business owners also have goals to achieve.
The following are some of business owners’ business goals, including
1. To meet their needs,
2. Efforts to provide welfare to the family,
3. To make their name known to the public,
4. Want to try new things and experiences,
5. Want to take advantage of free time in a profitable way, 6. To gain sympathy from the community, and
7. Continuing the family-owned hereditary business. To be able to achieve what the business goals are, of course, is not an easy thing because of the high level of competition, uncertain community economic factors, limited capital and so on. But business is a world that requires tenacity to be successful.
When business people do their business, there are rules that they must follow. This standard is one of the determinants of the direction of their business going forward. That rule is ethics. The word ethics comes from the Greek, namely “ethos,” which means the usual place to live, stables, pastures, habits, morals, character, feelings, attitudes and ways of thinking. The plural form of ethos is “ta etha” which means custom. This plural meaning is used by Aristotle to refer to ethics as moral philosophy. The word “moral” itself comes from the Latin, “mos” which also means habit or custom.
The word “morality” itself comes from the Latin word “moral” and is an abstraction of the word “moral” which refers to the good or bad of an action. From the origin of the word, ethics can be interpreted as the study of things that are usually done. Ethics is also a science that specifically focuses on human behaviour from a moral point of view, not from a physical, ethnicity and so on.
Business ethics, in particular, are ethical standards related to the goals and ways of making business decisions. Business ethics is a way of conducting business activities, which covers all aspects related to individuals, companies and society. Business Ethics in a company can shape the values, norms and behaviour of employees and leaders in building fair and healthy relationships with customers or business partners, shareholders, and the community.
A billionaire who owns a company must believe that a good business principle is an ethical business, namely a business with superior and sustainable performance that is carried out by adhering to ethical rules/rules by applicable laws and regulations. Business Ethics can be a standard and guideline for all employees including management and make it a guideline for carrying out daily work with daily work based on morals based on noble, honest, transparent and professional attitudes.
Profit is something that is sought in conducting business activity. However, ethics in doing business should also get the spotlight of the business. The following are why ethics in business are necessary, among others:
1. Can reduce costs due to preventing the possibility of friction, both internal to the company and externally,
2. Can increase employee motivation,
3. Can protect the principle of freedom of commerce,
4. Can increase competitive advantage,
5. To form a strong company with high competitiveness and can create high value (value-creation). To be able to achieve this, companies need a solid foundation.
This foundation usually starts from strategic planning, good organization, a transparent procedure system supported by reliable corporate culture and corporate ethics that are carried out consistently and consistently, and
6. Maintaining stakeholder loyalty in making company decisions in solving company problems. This is because all company decisions greatly affect and are influenced by stakeholders. Stakeholders are all individuals or groups who have an interest and influence on company decisions.
Therefore, to become a billionaire, when running his company should not only pursue personal gain. He must pay attention to other aspects of doing business. This aspect is ethics in business. This business ethics is very important because by applying it, the businessman can get various benefits, such as:
Reducing costs due to preventing the possibility of friction, both internal to the company and externally,
Increase worker motivation,
Protecting the principle of freedom of commerce,
Increase competitive advantage,
Forming a strong company with high competitiveness can create high value (value-creation). To be able to achieve this, companies need a solid foundation.
This foundation usually starts from strategic planning, good organization, a transparent system of procedures supported by reliable corporate culture and corporate ethics that are carried out consistently and consistently, and Maintaining stakeholder loyalty in making company decisions in solving company problems.
This is because all company decisions greatly affect and are influenced by stakeholders. Stakeholders are all individuals or groups who have an interest and influence on company decisions.
