Does adherence to a good business practices, adherence to ethical and moral principles in business activities be an important factor in the development of effectively developing social market economies?
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Is a very good question. And the answer is that NOT necessarily, because the world is upside down and corrupt activities are sometimes greater and more common than ethical practices, and as a consequence corruption, selfishness, the desire for money and other toxic practices manage markets more than ethical practices, that are not necessarily competitive at this time on the planet, unfortunately. I Hope that will change for the better soon.
Is a very good question. And the answer is that NOT necessarily, because the world is upside down and corrupt activities are sometimes greater and more common than ethical practices, and as a consequence corruption, selfishness, the desire for money and other toxic practices manage markets more than ethical practices, that are not necessarily competitive at this time on the planet, unfortunately. I Hope that will change for the better soon.
The possibility of having moral principles in the market offers better guarantees of personal, professional and economic success. The set of these three dimensions offers a more balanced product that if we only insist on the economic and leave aside the human and professional. Even, my recommendation is that the three dimensions go together.
Without an external "control" or a kind of "ISO" that puts the morality and ethics on a corporate level as mandatory, the answer is no.
Also no, if there are no punishment in some cases. For example, Brazil have a big company, which bad practices that twice killed lot of people and rivers have a big charge of nothing. Along this the country have some people in jail or charged for fishing for food.
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