Some people in business are under the impression that people need to behave in an ethical way is as a natural consequence of trying to succeed. Other people might say that people who act like sharks will have the advantage in business. They will try to uphold set moral and legal standards themselves. However, ethics do not cause people to lose at business, even if it might seem that way at first.
For one thing, unethical companies are prosecuted in the end. It might take a long time, but they can’t get away with what they are doing forever. Their owners may end up declaring bankruptcy in the process. Crime will only pay in the short term. Business success requires ethical business practices.
There is also the matter defining success. It is true that some people become successful criminals, although the majority of them are not wealthy or respected in any way. But, if a business manages to get profitable through the use of unethical practices, that organization will not last. People who are at the top of crime enterprises have miserable lives.
Even senior executives working in a legitimate company have to work long hours. The people who are outside of the system will have to struggle even harder at covering up everything that they do. They are making enemies and having to rely on many different contacts all the while. The more people go outside the system by committing crimes, the more they have to cover themselves. This is because they have to try to maintain what they have.
The consequences of failure are so much worse for an unethical business. Taking out a loan for some money can be difficult for any business owner. But, going through that process can lead to some measure of personal growth as well. At any rate, the worst thing that is going to happen is that the business is going to fail. Failure is also sometimes a necessary prerequisite for personal growth.
If something goes wrong with illegal or unethical businesses, the business owners can lose much more than their money. They can lose their freedom if they end up serving jail time. Many of them are also going to lose a lot of money in fees and fines. They are going to lose all their self-esteem that they managed to garner, and this is going to make it harder for them to bounce back.
Business success is not only about money. Most unethical businesses fail in the end. The majority of people are going to regret taking these sorts of risks with ethics and the law in the long run. Only the wealthiest business people can bounce back once their unethical activities are exposed. In the meantime, they experienced more stress and struggled more. They faced the possibility of taking on larger consequences than almost all other failed business people. It isn’t worth it.