Economy

Factors Responsible for Unethical Business Behavior in Nigeria

Factors Responsible for Unethical Business Behavior in Nigeria

Discussing the unethical business behaviour in Nigeria, there is a need to first and foremost understand what is ethical business behaviour.

Ethical business behaviour is one of those business values that seems to hold duality. This is what every business desires yet, the different business holds varied ethical business behaviour.

Read Also: 10 Steps to Start Logistics Business in Nigeria

Factors Responsible for Unethical Business Behavior in Nigeria
Business Behavior in Nigeria – Photo Source: https://www.businesszoom.in

In other words, what business A considered to be ethical business behaviour, business B may have a different view regards to what it considered ethical business behaviour.

When we talk about ethical business behaviour, we are simply taking into consideration concepts such as values and beliefs as well as morals. Hence, these concepts change from one business to the next.

The line between ethical business behaviour and unethical business behaviour is very blurred. While some reasoned that, there is no ethical business behaviour in any enterprise, others have argued that, what makes a business to thrive, grow and develop is when there is unethical business behaviour. That is, one has to lie to confuse his clients or customers to buy.

Nevertheless, to discuss the factors that are responsible for unethical business behaviour in Nigeria, there is the need, however, briefly to look at some of the unethical business behaviour in Nigeria, and this includes, practices such as, bribery and theft indulgence and sabotaging and market espionage as well as wrong capital investment. This unethical business behaviour negatively impacts business organizations in Nigeria.

Read Also: 10 Easiest Small Scale Business in Nigeria to Do

What Then Are These Factors Responsible For Unethical Business Behavior?

In this article, we will be discussing some of these factors responsible for unethical business behaviour in Nigeria.

1. Divergence In What Is Considered Business Ethics Or Standard

The truth remains that, different businesses have generated different concepts, such as values and morals and beliefs, which they considered to be business ethics that bonded on their businesses.

Surprisingly, there is no business ethics considered as universal, which could be adopted by all the businesses in Nigeria.

As a result, businesses are putting on different business behaviour, which to one, is unethical and to the other, is ethical. So divergence in standard is one of the factors responsible for the unethical business behavior in Nigeria.

2. Organizations’ Complex Belief System

Another factor responsible for unethical business behavior in Nigeria is that of the complex belief system upheld by different business organizations in Nigeria.

These different organizations, or what I may call, self-governing organizations have a different value system. What they do is that they will be defined what they considered ethical standard, and will create their ethical business behavior, and want their companies to uphold to these complex belief systems, and these are expected to bind on their individual business behaviors.

That is why, sometimes, it is difficult to enforce these standards, in fact, enforcement of this business behaviuor actually come right within an individual business organization, that is why they do delve into the complex belief system, and picked a particular standard, they considered practicable by their organizations.

Read Also: Steps To Start Online Business in Nigeria

3. Religious Inclination Of The Owners Of Business Organizations

In most cases, one of the factors responsible for the unethical business behavior in Nigeria is the religious inclinations of the owners of business organizations.

And as a result, there is confusion between the organization’s business behavior and the religious inclinations of the owners. Sometimes, it is religious inclinations of business partners.

This goes to say that, for any organization to define and create ethical business behavior, it has to first and foremost defined and developed moral standard, since its code of ethics is directly proportional to its morals.

In a sense, these morals are taken from an organization’s value system, which is derived from many years of experience by the management of the organization.

In turn, it can be said that moral standards and ethics and value systems of one organization can and do diver from the other.

Read Also: 10 New Business Ideas in Nigeria to Start in 2019

4. Many Sides Of The So-Called ‘Golden Rule’

While talking about semantics of ethics in business, one is likely to look at it in a theoretical standpoint, while the other may see it from a philosophical standpoint. Besides, this could be considered from the real world applications.

For instance, the ‘golden rule’. Different definitions have been attached to the term, golden rule. In the real sense, this is what it says, anyone, who controls money and revenues and profits is the one, who detects the rule.

In other words, the overriding factor is profit-seeking. Even though this is not the globally accepted rule, but the truth remains that, a company must generate funds in order to remain solvent.

One may ask, of what cost is the sole pursuit of profits to a business, its organization value, and even the business industry and as well, the world? Standards or ethics, most of the time, seems to stand in the way of transactions that lead to the blind pursuit of funds.

Therefore, it goes to say that, a company, or an organization, or even industry can decide to create its values and hold steadfastly to such a set of ethical standards, which they may be willing to pay for these values or morals or ethics.

Read Also: Steps to Start Training Venues Leasing Business

Conclusion

The line between ethical business behaviour and unethical business behaviour is very blurred. While some reasoned that, there is no ethical business behaviour in any enterprise, others have argued that, what makes a business to thrive, grow and develop is when there is unethical business behaviour. That is, one has to lie to confuse his clients or customers to buy.

This, however, boils down to the application of one’s ethics to business decisions, particularly in the corporate business world.

But what could these decisions be? What are the factors that could cause a change in decisions’ outcome? In other words, to undertake business choices that are ethical, it means that, such choices could be subjected through a series of filters.

The first filter is, one has to determine as to whether the decision is equitable, the second filter would be, is the decision a moral one?

Such a decision must be just and fair. The most acceptable of all the filters is trying to determine as to whether the decision is correct and right, and whether it is such that will have the greatest positive impact on everyone involved.

IMPORTANT!: Follow us on Instagram @InfoGuideNigeria
Click here to Read Latest School News in Nigeria

Copyright Warning!

We work really hard and put a lot of effort and resources into our content, providing our readers with plagiarism-free articles, original and high-quality texts. Contents on this website may not be copied, republished, reproduced, redistributed either in whole or in part without due permission or acknowledgement. Proper acknowledgement include, but not limited to (a) Proper referencing in the case of usage in research, magazine, brochure, or academic purposes, (b)"FAIR USE" in the case of re-publication on online media. About possible consequences you can read here: What are the consequences of copyright infringement? In an effort to protect our intellectual properties, we may report your website to Google without prior notice and your website be removed from search engines and you may receive a strike. All contents are protected by the Digital Millennium Copyright Act 1996 (DMCA).
Tags

Joseph Athanasius

Joseph Athanasius is a Content Developer at InfoGuideNIgeria.com. InfoGuide Nigeria is a team of Resource Persons and Consultants led by Ifiokobong Ibanga. Page maintained by Ifiokobong Ibanga. If you need a personal assistance on this topic, kindly contact us.

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button
Close