Management Tip of the Day: Put ethics before profits says HBR

Friday, 30 December 2011 00:01 - - {{hitsCtrl.values.hits}}

BOSTON (Reuters) - Business know that they need needs profits, customers, and ethics to be successful, but not all get the sequence right, says Harvard Business Review.

“Everyone knows a business needs ethics, customers, and profits, but a lot of companies fail because they get the sequence wrong.

The most common mistake is to put profits first. When you do, numbers become all-important, and you can justify almost any behavior if it makes money.

Instead, start by doing what’s right and make sure everyone in the company does too. Then, focus on customers. The best way to attract and keep them is to treat them well and be incredibly good at what you do.

Once you’ve mastered the first two elements, you can focus on making money.”

This management tip was adapted from “Four Things I Want You to Remember Me By” by Clif Reichard.