Ep 4 Preview: How ethical is your business?

14 October 2014
When was your last ethical compliance audit?
Ep 4 Preview: How ethical is your business? Image : 91

Episode 4 of Dragons’ Den SA will be hitting your screens tonight and it's going to be an interesting one. Expect to see academics, bizarre inventions and a hopeful pitcher toying with Lebo’s moral conduct.

Now this is an interesting point to touch on, a moral compass in business. Don’t underestimate the importance of holistic compliance in the day to day running of your company. Do you conduct frequent audits to ensure all elements of your business are adhering to the recommended legal guidelines? We’ve listed some top line indicators to consider when exploring the ethical conduct of your business.

Transparency: This describes the extent to which a company’s actions are open and apparent to employees and outsiders, in terms of privacy of information, policies and corporate decision-making.

Misleading information: Any statement or advert representing your product or service should be true, accurate and substantiated. Misleading customers will result in serious legal repercussions, fines or worse, business closure.

Negligence in safety: Negligence in the workplace can lead to property damage, loss, theft, injury, illness or death, all of which can result in fines or lawsuits. Offences can range anywhere from not having fire safety measures set in place to ensuring company vehicles are roadworthy.

Fraud: Financial fraud can be broadly defined as an intentional act of deception involving financial transactions for purpose of personal gain. Fraud is a crime, and is also a civil law violation.

Running a successful business means managing multifaceted components all of which must run congruently; the buck doesn’t stop at profit and loss as is evident in this week’s Dragons’ Den SA.

With the count down to tonight’s episode, we revisit your comments on social media to see what you had to say about last week’s antics on Dragons’ Den SA.

Tune in to this week’s Dragons’ Den SA tonight at 19:00 on Mzansi Magic for a mixed bag of pitchers and power women doing it for themselves.

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