Fundamental Business Ethics FBE

The 7 Principals of Fundamental Business Ethics (FBE)

1. Be known as Trustful: Understand that your customers want to do business with a company they can trust; when trust is at the core of a company, it's easy to recognise.

a. What is Trust in Business? Trust defined, is assured reliance on the character, ability, strength, and truth of a business.

2. Have an Open Mind: For continuous improvement of a company, the leader of an organisation must be open to new ideas. Ask for opinions and feedback from both customers and team members and your company will continue to grow. Always accept that outside help can be an expedient, cost effective and reliable tool.

3. Deliver on your Promises: Regardless of the circumstances, do everything in your power to gain the trust of past, present and future customer's and clients, particularly if something has gone wrong. Reclaim any lost business and cement current business by fulfilling all commitments and obligations. Remember only promise what you can deliver and deliver more than you promised.

4. Have Good , Relevant Documents: Re-evaluate all print materials including business advertising, brochures, and other business documents( and web pages) making sure they are clear, precise and professional. Most important, make sure they do not misrepresent or misinterpret. If a document doesn’t have a relevant use , then don’t use it.

5. Become Involved: Remain involved in Industry-related issues and activities, thereby demonstrating that your business is a responsible Industry contributor. In other words, stay involved.

6. Maintain Accounting Control: Take a hands-on approach to accounting and record keeping, not only as a means of gaining a better feel for the progress of your company, but as a resource for any "questionable " activities. Gaining control of accounting and record keeping allows you to end any dubious activities promptly.

7. Be Respectful: Treat others with the utmost of respect. Regardless of differences, positions, titles, ages, or other types of distinctions, always treat both clients ,co-workers or colleagues with professional respect and courtesy.

Implementing Fundamental Business Ethics as a tool for achieving your desired outcome is only the beginning. A business that instils a deep-seated theme of business ethics within its strategies and policies will be evident among customers. It's overall influence will lead to a profitable, successful company. By recognizing the value of practicing Fundamental Business Ethics, and following each of the 7 principles, your success will not be far off.