Essay Trust In Business Is A Means For Greater Business...

All businesses strive to be effective and efficient. Whilst the hallmark of a capitalist economy is self-interest and competition, cooperation is also necessary in order to further efficiency and productivity. For a business to be successful, the people within need to develop relationships amongst each other as well as outside the organization in order to be able to work with one another. These relationships are a function of trust. Trust is the reliance on the integrity, ability, or character of a person or thing. Therefore building trust is a vital step towards maintaining and promoting business efficiency. However, in terms of business ethics, the sole purpose of the use of trust is to promote business efficiency. Customers and the†¦show more content†¦There is no code that states that employers must disclose the working conditions of the workplace, but failure to inform an employee about hazardous working environments is to deny him information that may affect his decision to stay on the job. This is unethical, and even in a capitalist economy where self interest and profitability is important, this is not the most efficient way for a business to be run. This creates a lack of trust in the workplace between employees and employers and such an environment is bound to lower productivity in the long run which in turn lowers business efficiency. Conversely, it can be assumed that establishing an environment for trust within the workplace, so that the relationship between employers and employees is strong and that employees are more aware of their environment means that workers will be more comfortable in their workplace. This will have a positive effect and result in greater productivit y and efficiency. Joanne Ciulla furthers this argument by referring to work as a â€Å"token of grace and the means of salvation†. Workers identify themselves through their work. During the Renaissance, workers worked diligently because it provided them with a way to get a better life, respect and satisfaction . These qualities can be seen in workers today as well. Because workers see work as anShow MoreRelatedTrust in Business Is a Means for Greater Business Efficiency1883 Words   |  8 Pagesorder to further efficiency and productivity. For a business to be successful, the people within need to develop relationships amongst each other as well as outside the organization in order to be able to work with one another. These relationships are a function of trust. Trust is the reliance on the integrity, ability, or character of a person or thing. Therefore building trust is a vital step towards maintaining and promoting business efficiency. However, in terms of business ethics, the sole purposeR ead MoreRelationship Between Layoffs And Voluntary Turnover1417 Words   |  6 Pagessociety is now capable of reaching greater heights in efficiency more than ever. The benefit of efficiency is not wasting any limited resources and time; however, it is not much so when business owners attempt to become more efficient by laying off their employees. 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