Scholars chart path to business ethics, growth

Academicians have reiterated the importance of business ethics and development in Nigeria.The scholars who gathered at a panel discussion and unveiling of a book, ‘Fundamentals of Business Ethics: A Developing Country Perspective (Second Edition)’ by Prof. Juan Manuel Elegido in Lagos Business School, emphasized the importance of ethics in business relations and growth.

Professor Fabian Ajogwu described the book as a tool for businesses to adopt scaling principles within the workspace. Ajogwu said the new book talks about ESG, corporate social responsibility and governance, and the importance of balance in fair pricing while highlighting the intricacies of questionable payment. He charged firms to sustain principles for the sustenance of business. He encouraged that the book should go around so people could gain knowledge.

For Professor Uchenna Uzo, the book is useful for marketing communication, stating that the book emphasizes influencer marketing. According to him, there is a growing lack of trust in influencers marketing a product.He said the author spoke about pricing and consumption behaviour, and how marketing should be about consumer preference.

Director of the Institute of Humanities, LBS, Dr Adaora Onaga, said the book emphasizes the richest resources that businesses can work with which is human. She said the book talks about the exploitative paradigm, stating that what is in your control is what you do. Onaga said the book describes how to engage with everyone and the need for businesses to gain people’s trust while delivering value.