Honesty in business

Meaning of Honesty and Truthfulness

Honesty is the quality of being truthful and trustworthy. To be honest is to tell the truth at all times even at personal risk to oneself. Honesty in business is also known as ethical behaviour in business.

Truthfulness means making true statement about something or somebody. It is very important for developing trust and building lasting relationships among people both in and outside the business. It helps people to be objective and lead to confidence and trust between/among business associates. A person who is not truthful is said to be dishonest or untruthful.

Attributes and Characteristics of Truthfulness

The attributes and characteristics of truthfulness include the following:

1. Consistent behaviour: It is being able to maintain a particular standard that one has been known for. It means one is reliable and can therefore be trusted in all circumstances and by everyone concerned.
2. Steadfastness: This means, the quality of being firm in one’s dealing with people. Those who are steadfast are loyal, they can be depended upon in all situation.
3. Straightforwardness: It is the ability to be honest and frank.
4. Integrity: is the quality of being honest and having strong moral and ethical principles.
5. Other attributes of truthfulness include responsibility, courage and accountability, credibility, objectivity, trustworthiness and sincerity.

Factors that Cause People to Lie

A lie is a false statement deliberately told to be true in order to give a wrong impression about something. People lie:

1. to escape punishment
2. to make gain
3. to get other people’s attention or sympathy or boost one’s ego
4. to make one look more interesting to others by exaggerating, bragging or boasting.
5. to cover up their past
6. to cover up lies
7. to cover up the truth
8. to avoid hurting other people’s feeling
9. out of ignorance
10. to avoid embarrassment
11. to avoid work or taking part in an assignment
12. to keep secrets
13. to keep themselves safe
14. to keep a friend from trouble

Rewards for Being Truthful

1. Widespread respect from people.
2. A feeling of liberation and self-worth.
3. Peace of mind.
4. Additional responsibility.
5. Courage and integrity.

Consequences of Not Being Truthful

1. Misery: A life of lie lead to misery. It leads to discomfort guilt and worthiness in the mind of the person.
2. Damaged reputation: People become unkind to you even when you tell the truth; they find it difficult to believe you.
3. Loss of credibility and respect: Nobody respects a liar no matter your position in the society.
4. Loss of peace
5. Withdrawal of responsibility
6. Lack of trust.
7. Breakdown of relationships.

Meaning of Fair Play

Fair play in business means fair treatment of people without cheating or being dishonest to them. It is keeping to established rules without cheating. In business, there should be fair play. Everyone should be given a chance irrespective of his/her ethnic, social or religious background.

Attributes/Qualities of Fair Play

1. Equity: this is the ability to be fair to all, that is, equal treatment of everyone at all times.
2. Openness: being straightforward and truthful, so that people will easily understand what you do or say.
3. Responsibility: ability to carry out the job given to you properly and not passing it to other when they have theirs to do.
4. Play by the rules: always keep to the rules and regulation of the organization.
5. Admitting when you are wrong: it is always good to admit when you are wrong and apologize. Do not claim to be right when you know that you are wrong.
6. Not being nepotistic (biased).
7. Not being patrimonial.
8. Impartiality: not taking sides with one person or group against another.

The Six Pillars of Character

1. Trustworthiness
2. Respect
3. Responsibility
4. Fairness
5. Caring
6. Citizenship