Business ethics refers to the system of ethical principles and rules applicable to business. As a social subject, business activities will not be carried out in a way that harms the interests of society and the business sector itself. Each profession or group has formulated the rules for its members.

Business ethics is important to all businesses, they ensure worker’s safety, help companies maintain honesty and fairness in trade and interactions, and generally provide better goods and services. Distinguishing what a company will represent and what it does not represent is not always the same for all organizations, but understanding basic ethical principles is a key part of business management.

Importance of BUSINESS ETHICS

1: Business ethics help ensure the good reputation of your company. Not only does it feel good to be a member of a prestigious company, it is also good for business. When you have a reputation for consistently complying with ethics in the way you purchase and manufacture products and treat employees, customers, and communities, more people will be willing to do business with you.

2: Companies that practice good business ethics face less risk of fines and other legal issues. Of course, laws and regulations are complicated, but as long as you do some morally correct things, you can avoid many problems. By making business decisions with this in mind, you can avoid the pressure of having to defend your business due to litigation and fines.

3: Business ethics guarantees the development of the company. As long as an entrepreneur strictly abides by the code of ethics, a specific business sector will definitely develop. The company cannot be managed in a way that isn’t conducive to the interests of the society or the company itself. Therefore, the development of a company should have certain business ethics.

4: It’ll make employees to be more motivated to work because they feel that doing so will make the world a better place. Therefore, if you want normal profits to continue to rise until you make a lot of money, you must make your business fully ethical.

5: A reputation based on good ethics helps to establish a positive image in the market. This in turn makes customers trust your products and services. They also pass on information to your friends and family, thus creating more customers for you.

If you want your business to thrive for a long time, running an ethical business is essential. Business ethics and profits are mutually reinforcing. A company that is ethically oriented and wants to dominate its market segments can reap many benefits. However, unethical businesses are doomed to fail even if they start out with a record of high profits. Morality is making relationships better and stronger.

Time management (TM) is the process of planning and controlling the time taken for a particular activity. Through good time management, individuals can complete more in less time, reduce stress and lead to a successful career. There seems to be a shortage of time in the day. But we all have the same 24 hours, why do some people achieve more than others within the space of 24 hours? It is simply good time management.

It is one of the most important skills, but it is usually a concept that many companies and people strive for. However, the benefits of good time management practices are immeasurable. Companies that use good time management are in a better position to offer their products or services consistently and on time.

Here are few importance of Time management in business:

1: it’ll make you work smarter not harder:

Multitasking seems to be a good use of your time, because it usually requires a lot of things to do, but you may be at risk of low productivity. On the contrary, setting aside time for each task will help you do better because you will not be distracted.

2: It helps reduce stress and anxiety:

It’s easy to become anxious when you have an exhaustive to-do list. It can help you prioritize your to-do list and spend time on the things that matter most. Prioritizing your tasks and giving yourself enough time to complete them can help reduce your stress levels.

3: it boosts confidence:

When your time is well managed and you successfully meet your deadlines, you will feel accomplished and confident in your abilities. Regularly completing your daily to-do list is a huge motivation that can help people to further improve their productivity and to seize new work opportunities.

4: it will help you procrastinate less:

The purpose of time management is not only to get more done in less time, but also to reduce the urge to procrastinate important tasks. Adopting good time management tips allows you to instantly eliminates procrastination by making sure you are familiar with what tasks are added to your to-do list and when they need to be completed.

5: You have time for rest and leisure;

With good TM you get more free time in your day to do the leisure and recreational activities that make you happy. This can help create the perfect balance by working smart all day and having a reward of your choice in return.

Good TM won’t only make you productive, it’ll make your business thrive, excel and make you fulfilled

Sales is a process that leads to a transaction between two or more parties, where the buyer receives an offer and the seller receives some valuable reward, usually need to know how to sell otherwise everything is useless.

Selling indicate whether your business is meeting the demand to achieve your goals. No sales means there is a problem. Your product or service does not meet demand, or your marketing does not promote the product service properly, or the sales process needs to be adjusted, or … the list can go on.

The main and most important role of sales is to bridge the gap between the needs of potential customers and the products or services provided by your organization. Sales is a personal interaction between one person and another, and it is a very powerful thing. Never underestimate the personal connection between two people and the potential impact this may have on your brand reputation.

Sales is the most important aspect of any organization. This is the source of income. You can use high-end technology to produce any number of products, but if they are not sold to consumers, all investment will be wasted and eventually these companies will liquidate, you start selling your products, revenue will come, and you can invest in your business and then expansion. This is how you grow. Therefore, no matter what you sell, be it products or services, sales are the most important thing to the company.

The sales function of any business is vital and is truly the only revenue generating department in any organization. If there are no sales, you have no employees to manage, there are no projects to develop, there are no funds to deal with, there is no compliance, etc. Whenever a sales transaction takes place, the organization moves; accountant can record funds, fulfillment can start production, delivery can schedule delivery and installation, etc. All of these must be sold, otherwise you will lose money.

In summary, the power of selling in the continued success of an organization cannot be underestimated. Take advantage of the potential impact of selling not only on revenue, but also on brand reputation, long-term customer retention, and business growth.