Although there is no single formula that is guaranteed to make any individual a success in the world of business there are most definitely certain guidelines that can help to stand you in good stead along the way. Ultimately you have to find your own way of doing things but if you clearly identify what the differences are between right and wrong and act in accordance with this then it is not only ethically correct but it also holds a lot of advantages.
Staying out of trouble
There has been lots of breaking of rules and underhand tactics in business at times in the past, with the perpetrators punished as a result. It is very easy to try to cut corners in business in an attempt to give your company an advantage but this will always end badly. Cutting out the likes of tax and other compulsory payments and arrangements is a simply catastrophic way to act and will lead to the most severe of reprimands. It is difficult to build up a good name in business and it takes a great deal of time to do so but destroying that good name is extremely easy. If you act with ethics from the start then you will stay clear of any legal issues but if you set out to cheat and cut corners then you will get found out in the long term.
A committed workforce
Positivity breeds positivity and the same is true of acting with a sense of ethics and good values. Any company has a theme and code of practice running through it from the top all the way through the operation so if you want to have the kind of employees that will serve you well then make sure you establish this from the outset. It is also possible that you could have genuinely decent and good-hearted people working for your business but you could run the risk of losing them if it is clear that the company does not work in the right way. Ensure that there is the best possible chance of these good employees wanting to stick around by favouring an ethical approach.
Relationship with the customer
All kinds of business have to establish a lasting relationship with clients and customers and something that is central to this is acting in the right manner. If people know that you believe in ethics in your work and the service you provide then it will lead to your good name being spread around, and that is certainly a good thing.