Download: MP3 (64.5 MB)
There is an interesting divide in businesses around the world when it comes to their various practices. Many companies seem to want to do anything it takes to make money, while others take pride in having some level of virtue and wanting to do the “right thing”.
The “right thing” can be incredibly subjective, not to mention controversial. If one business says they are doing something ethical, does that necessarily mean that any similar company doing the opposite is not?
The values of a company determine its direction. They define what you will and will not do as a business or a brand.
It’s one thing to set these values internally, but it’s another completely to make them a focused part of your external brand.
In today’s episode we’ll be talking about what it means to define your brand’s ethics, where ethics should sit in regard to the public, and how you can help consumers become more mindful when it comes to the things they buy.
Highlights, Takeaways, Quick Wins
- For a brand, its ethics (closely tied to values) shape the choices it makes and ultimately the type of brand it is.
- Values and ethics are closely linked. Ethics are how you determine the morality of something, and values are decisions of what you will or will not do based on your ethics.
- What one brand may have as a principle or value may not be a value for you.
- Determine if your values and business practices make for a compatible business model that will actually help the people you want to help.
- Ethics stem out of a certain worldview and belief system. As the owner or person in charge of the brand, you necessarily infuse your own belief system into the brand.
- Demonstrating what you place importance in communicates certain truths about your brand, which builds trust.
- There is a significant difference between fads and doing something because you are ethically inclined to do so.
- People may not agree with the emphasis you place on certain ethics, so you may have to decide what’s more important: sticking with your ethics or pleasing others.
- As brands, we can participate in helping consumers think about the ethical side of business.