The definitions of morality and ethics are not interchangeable, but they are interrelated. Morality can be defined as principles that distinguish right and wrong, whereas ethics can be defined as the code of conduct based on the principles of morality. In other words, you can think of morality acting as knowledge, and ethics as the actions based on that knowledge.
In a similar vein, what is ethical is not necessarily moral. To illustrate this principle, I am going to use an example. The word, omertà can be defined as a code used in the Italian Mafia that enforces silence for criminal actions performed and refusal to give evidence to authorities. This is to ensure that all people within society are protected from criminal justice. This regulation, though highly immoral to all adherents of the law, would be an extreme breach of ethics in the mafia community.
It is not only necessary to be ethical, but even more necessary that our ethical conduct is aligned with a good sense of morality.
At Sumsion Business Law, we believe in aligning moral beliefs with ethical conduct. In every facet of business life, due diligence, clients, co-workers, peers, etc., we strive to perform work with integrity, honesty, respect, and professionalism. If there are any issues with ethical behavior within the firm, the matter is turned over to our compliance officer, who ensures that errors are corrected, and proper precautions are taken, so that no mistake is parroted.
Mindy and Steve Sumsion, the founders of SBL, have done an excellent job cultivating an environment where all strive for ethical behavior towards clients, as well as each other. The deep personal care that Mindy and Steve have for all people within the firm is why employees are extremely devoted to following their example. What they abundantly give in love, all employees return in loyalty to their noble cause.
There are far more reasons to be ethical than there are to not be ethical, with one reason being client gain and retention. The word-of-mouth method is responsible for 90% of sales. That is five times more efficacious than paid ads. Furthermore, 90% of people are more likely to trust a company that is recommended, even if that person is a stranger. These statistics mean that if one were to build a reputable company, it would attract clients and partners that would help replenish and retain customer growth. Not only would one have more abundant business, but the clients would be loyal to the company because of the trust that had been established. Ethical behavior within a business also benefits a company internally, as well as externally. Employees are more content knowing that the work performed is ethical and that the people around them are striving toward the same goals.
Prentice Mulford invented the philosophy of The Law of Attraction, which essentially expresses that one attracts in life what they are themselves. This is true in all aspects of life and can especially be connected to ethics in the corporate world.
As we endeavor to be ethical and orient our moral beliefs with our ethical behavior, we can be sure that it will foster successful, optimistic and ethical businesses, that will not only shape the community, but the world.