It’s not easy to start a business. It takes a great deal of energy, dedication, and desire to succeed. And sometimes even hard work doesn’t get us the payday we were looking for. When that happens business owners find themselves in a bind.
And when people are in a bind, they can often find themselves doing things they wouldn’t ordinarily do. And sometimes that frustration with a lack of success can force people to walk the line of ethics. And sometimes even cross the line.
Sure, you might be able to earn a few bucks when you are going against established norms and laws, but you will not be a winner at the end. Up next we’re going to tell you about three unethical business practices to avoid at all costs.
False Advertising
Perhaps one of the oldest tricks in the book is false advertising. That’s when you claim your product is going to work all sorts of miracles when you know for a fact that it is not.
It was easier to control and hold brands responsible for misleading claims before the reign of digital advertising. The advertisements in magazines, television, and radio stations are usually more thoroughly reviewed by several layers of approval boards before they go live.
However, with online media, any assertion or statement made on the internet is difficult to pin down. For several cases, this has allowed advertisers to make provocative claims. You will read assurances to the left and right, which will reassure the most doubtful pessimist.
Big websites such as Amazon and Facebook aim to regulate these activities by enforcing marketers ‘or business owners’ guidelines.
It is best to adhere to the facts when selling your product. Underline only what can be verified by research or past achievements. To boost your marketing campaign, check online for new marketing technologies, or read top books for inspiration.
If your product or service is garbage, it will be only a matter of time before the public knows. And that too is thanks to customers sharing their thoughts and opinions on the internet. A popular product can get cancelled over night and you could face legal action.
Mistreating or Exploiting Employees
More and more employees are comfortable in sharing stories of negative experiences in their workplace online. This could be anything from sexual harassment to work without pay to racism. And that means employers can’t get away with the things they used to.
Some companies use employees in third-world countries in order to avoid workplace regulations in their own countries. The conditions are worse than one would imagine in these workplaces. and yet companies use them to increase their shareholders’ earnings to the detriment of their workers.
You may pay low salaries to the employees and allow them to subsidize their profits at the expense of the government with food stamps and welfare. And in countries that don’t have labor laws protecting their employees, there is even forced labor of children.
The Western public has no appetite for companies exploiting workers overseas. It doesn’t matter how big or small of a company you are, you could see your mess spread across the papers and your revenues plummet.
Bribery
It’s not uncommon in the world of business to affect a business decision. For example, Diageo, the UK-based liquor corporation, was given a $16 million fine for bribing officials in India, Thailand, and South Korea to get their products into the market.
Bribery charges have been seen in business the world over. The difference now is that it is far easier to catch instances of bribery thanks to our ability to easily trace transactions and communications via tech.
If you cannot follow the rules to get your products into the market, you shouldn’t have your products there in the first place – let that be a sign. There is nothing good that can come from bribery for both you and the person you’re bribing.
Conclusion
There are many things you can do in business to get ahead, but if they come at a loss for one of the parties, the chances you’re going to get away with it are slim. Stay on the up and up by focusing and planning and a win-win situation for all – that’s the key to success.
