Recent changes in the Corporate Business Ethics


If you look at the Big Business as a consumer you will find some important changes in the sense of business ethics. Banks have to defend themselves from a class action lawsuit because of unethical practices in charging ridiculous fees for everything from withdrawing money to close all your accounts. Banks are considered to be very ethical because fudiciary nature of the business, yet here are being sued for exactly the opposite. Cell phone service providers, cable providers and a host of other big national brand companies have slowly changed the face of the company by hiding behind large complex contracts the consumer signals in order to get basic services. The agreements are the fees that are never discussed and are simply hidden in the legalese of the contract. If the price is quoted as $ 40 / month end user is usually surprised to find in the bill an additional $ 20 to $ 40 per additional charges.

Over the past 20 years this creep of hidden fees has been adopted by most of the end users as the price of doing business. Only the lack of competition due to mergers and acquisitions, these companies have been able to keep their customers. It has been a remarkable lack of backlash against these companies and neferious ways of doing business until recently. Companies have increased their return on investment (ROI) for trickery rather than actual business growth. But applying the fee is an acceptable way to increase revenue for the company, the way in which they do it prudent to say the least. A charge that is never discussed or clearly written is hardly good business.

If you have or are planning to do business, do the right thing and get customer loyalty and trust by making additional charges clear and open in all discussions and agreements. If you are hiding behind the large contracts that include charges and way of doing business that you can be legally right, but you will also make your customers wrong. In fact, since banks can now attest, you can not even be legally right and end up in litigation for years that could possibly end business.


Leave a Reply

Your email address will not be published. Required fields are marked *