Business Ethics & Customer Satisfaction Issues & Challenges
BY MEGHA CHADDA
Reg No - 71/23578
1. Changing trends of trade and customers, has forced business leaders to reiterate the scenario for identifying the need of evolvement much required to sustain in the market. However, business ethics have been integral part of the policy structure for the organizations but over the period of time it has been realised that rightful practices and their standardization is the most important for customer satisfaction and building acceptable perception about the company.
2. Business Ethics and Customer Satisfaction goes hand in hand but to maintain standardised environment for a particular quality in service or product, there are several challenges and issues which entail addressal. The objectives that organization wants to achieve in terms of revenue, sustained business model and high perceived value of the organization, also need to imply these business ethics, witnesses many hurdles before converting into realistic achievements.
AIM OF THE PAPER
3. The aim of the paper is to identify the challenges and issues in implementing ethical practices to gain customer satisfaction in order to attain higher objectives of the organization as lot of companies are struggling to find balance between ideologies and on-ground practices.
BUSINESS ETHICS AND ITS IMPACT ON CUSTOMER SATISFACTION
4. Business Ethics are moral principles that guide the way a business behaves since there is involvement of various individuals. The same principles that determine an individual’s actions also apply to business. Acting in an ethical way involves distinguishing between “right” and “wrong” and then making the “right” choice. It is relatively easy to identify unethical business practices. For example, companies should not use child labour. They should not unlawfully use copyrighted materials and processes. They should not engage in bribery....