The Necessity of Business Ethics


I recently had a discussion with my wife and her cousin about the state of ethics and values in the Black community relative to our business practices. As we spoke, it became clear that there is a glaring lack of ethical business practices which presents a significant hurdle for us that we must overcome in order to qualitatively propel our community forward. It was a stark reminder of the importance of group-centered leadership, ideology, and ethics in revolutionizing our community and ensuring our collective success.

One of the most pressing issues we face is the rapid turnover of the dollar within the Black community. Statistics show that a dollar circulates for just six hours in our community, compared to weeks or months in other communities. This rapid turnover is a symptom of deeper ethical challenges. We need to prioritize keeping our economic resources within our community, and this requires a fundamental shift in our business practices.

Ethics play a central role in this. By fostering a culture of trust, transparency, and mutual support, we can encourage more people to spend their money within the community. This involves not only fair pricing and honest dealings but also a commitment to quality and customer service that builds long-term loyalty.

Our discussion also highlighted the principles of cooperative economics, collective work and responsibility as essential elements to our success. The ethics embodied in Kwanzaa provide a valuable framework for this. Ujamaa (cooperative economics) and Ujima (collective work and responsibility) remind us that our prosperity is intertwined. By supporting each other’s businesses and working together towards common goals, we can create a robust and self-sustaining economic ecosystem.This week long celebration is intended to translate in year round practices which guarantee that we are united in mission and vision towards the common of self-determined existence and self-sustaining economics.

These African principles, a cultural witness to our legacy, stands in dynamic contrast to the capitalist, individualist model that dominates our current economic landscape. In this model, success is often measured by individual wealth and achievement, rather than the well-being of the community as a whole. This focus on individualism can lead to opportunism and exploitation, where the pursuit of profit comes at the expense of others. It is a mindset that values money and material possessions over people, leading to corruption and a breakdown of trust within the community. When we turn back to our cultural legacy, we are able to uproot the unethical mindset and practices that we have adopted in our oppression; something that is essential in establishing our community relative to awakening our identity and ultimately our purpose.

To counter the unethical spirit that we’ve come to embrace, we must come to champion an ethical framework that prioritizes the entire well-being of our community. This means ruling out opportunism and exploitation and rejecting the notion that the ends justify the means. Instead, we should adopt the principle that the means should always justify the ends which leads to mutually symbiotic outcomes and not just one-sided, disproportionate results. Ethical behavior and fair practices should be the foundation of our business dealings, ensuring that our relationships remain strong and our community fabric intact.

The Scriptural principle of equal weights and balances (Leviticus 19:36) is particularly relevant here. It calls for fairness and equity in all transactions, ensuring that everyone is treated justly and with respect. By adhering to this principle, we can build a business environment and economic ecosystem that values integrity and honesty, fostering a culture of trust and mutual respect.

Another critical aspect of business ethics is the commitment to quality work and customer service. Delivering high-quality products and services not only satisfies customers but also builds a reputation for reliability and excellence. This, in turn, encourages repeat business and positive word-of-mouth marketing, further strengthening the community’s economic base.

In our conversation, my wife and her cousin emphasized how ethical business nuances and practices, with an intentional focus on modeling effective stewardship and delivering quality service and products can drive community loyalty and support. When businesses are seen as knowledgeable, trustworthy and committed to the community’s well-being, people are more likely to support them, creating a virtuous cycle of economic growth and stability.

In consideration of it all, it is clear that the necessity of business ethics in our community cannot be overstated. By adopting ethical principles that prioritize the collective good, we can ensure that our economic activities contribute to the well-being of everyone. This means rejecting opportunism, exploitation, and gross materialism, and instead, embracing fairness, integrity, and a commitment to quality.

The principle of reciprocity—treating others as we wish to be treated—is central to this ethical framework. It ensures that our business practices are not only fair and just but also that they build strong and lasting relationships within the community. By focusing on ethical means, we can achieve ends that benefit everyone, preserving the fabric of our community and fostering a culture of mutual support and respect.

In a world where the ends often seem to justify the means, it is crucial to remember that the means we choose are just as important as the outcomes we seek. By upholding the highest ethical standards in our business practices, we can build a stronger, more resilient community, where everyone has the opportunity to thrive.

bmichaelcmg@outlook.com

nelson

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