Ethics and values set a business apart
Take a look at the platform on which the stool sits. This foundation of ethics and values ‘grounds’ the business, in my opinion, and should be the basis for all decisions within the business.
Ethics and values can set a business apart from the competition and can underpin the market perception of your brand with long-term corporate sustainability efforts.
This is evident in the choice of manufacturing partners and product fit-for-purpose performance, pricing policy, delivering on promises, and above all having the customer as the focus of the business.
Recent discussion regarding a large social media platform, as well as the Royal Financial Services Commission revelations are cases in point. In the latter case, it appears that the ‘customer’ became a revenue target rather than being respected. In the former case, the realisation by some subscribers that they were, in fact, the product of the platform, came as a surprise.
The examples are different. One, a case where checks and balances were not in place to support the marketed values, the other marketed social communication to the everyday user – yet was translucent on the underlying platform purpose (business model) – to sell profiled and targeted advertising. The use and misuse of the data for political purposes is another discussion entirely.