A Discussion of the Merits of Business Integrity: Integrity and Business Integrity

The merits of business integrity incorporated into the basic principles and practices of a business plan and evidenced during the process of growth and development of the business, are major factors in its ultimate success.

Understanding the significance of business integrity is important with respect to the functioning and survival of any business. Compromises in integrity may appear to benefit businesses at times, but in the end, they can have disastrous consequences.  

Understanding the difference between integrity and business integrity can prove helpful for business owners and others.

What is integrity?

According to dictionary.com, the word integrity means “the adherence to moral and ethical principles; soundness of moral character”, in other words, “honesty”. Integrity leads to “the state of being whole, entire, or undiminished” and “a sound, unimpaired, or perfect condition”.

What is business integrity?

Businessdictionary.com expands upon the definition of integrity, suggesting business integrity entails “strict adherence to a moral code, reflected in transparent honesty and complete harmony in what one thinks, says, and does”. This also suggests the “state of a system where it is performing its intended functions without being degraded or impaired by changes or disruptions in its internal or external environments”, as well as “stored or transmitted data that is free from any unauthorized change”.

One of the merits of business integrity is that of safety with respect to employers, employees or others associated with various kinds of business. For example, shortcuts may appear to save money in the manufacturing process or in other operations related to a business. The safety of workers and others may become a concern if there are unlawful compromises or breaches in business integrity. The failure to comply with building codes and standards or the improper maintenance of equipment can result in injuries and the loss of lives. 

Globally, security is of major concern for most businesses, as transmission of data via electronic communication may be impaired or disrupted by intentional changes or disruptions by those who lack personal integrity or business integrity.     

Competition in business is fierce, particularly during a time of severe economic decline. 

While legitimate business owners compete to survive with personal honesty, integrity and transparency, business integrity can diminish in non-legitimate businesses that demonstrate inferior product production, as well as inappropriate marketing techniques. Ultimately, this can result in the decline of the quality goods and services evident in the local or global economy.

Business integrity is a powerful, motivational factor for employers and employees alike. Those aware of business integrity prefer to deal with these kinds of businesses, knowing that there are mutual benefits in their strong, positive orientation. No one has to question business plans, principles and practices when there is business integrity.