Question

What is the importance of ethical awareness and high standards in an entrepreneurial career?

Answer 1

The way of doing business has changed a lot from what it was few years back and today in order to sustain and succeed for long, organizations need to be effective in their approach because the level of competition both in terms of quality and quantity is very high and therefore in order to stand out in the crowd the organization needs to be different and unique in their approach. Competitive advantage needs to be the key and that can be achieved of the organization is ethical in their approach and maintain a certain level of standard in their deliverables along with their conduct as well.

The organizations needs to create a position in the market and that should not be compromised at any cost and that would provide the organization with a image and brand value which the organization will use effectively in order to create a business structure. We can observe various organizations who have been popular and successful because they maintained a certain standard in the industry and did not stoop down under pressure.