Category Archives: Business News

Laconia Pet Center to host celebration of 50 years in business

LACONIA — Laconia Pet Center will celebrate its 50th anniversary on Friday, Oct. 18, and Saturday, Oct. 19. Established in 1974, Laconia Pet Center has been a staple in the community, providing high-quality pet products, services, and education to pet owners for half a century.As a second generation, family-owned and operated business, Laconia Pet Center has always been committed to providing personalized attention to its customers and all of their pets. Over the years, the business has expanded its offerings to include a DIY Dog Wash, and a wide selection of fish tanks, pet food and accessories.#placement_606533_0_i{width:100%;margin:0 auto;}“Our 50th anniversary is a testament to our dedication to our customers and their pets,” said Bethany Stockman, who inherited Laconia Pet Center with her brother Brett. “We are grateful for the support of our community as well as all of the team members we have with us both past and present. Without them and the community we would not be where we are now. We look forward to being in the Lakes Region community for many more years”To celebrate this milestone there will be opportunities to enter giveaways that include a complete 65 gallon fish tank, a year’s worth of cat food courtesy of Grandma Maes Country Naturals, a year’s worth of dog food courtesy of Red Barn, a Blackstone Grill, Coleman Cooler and a multitude of gift baskets with assorted items. The celebration will also include goody bags and gift cards.

Keeping commercial properties clean to attract business in NELA

WEST MONROE, La. (KNOE) – Economic development agencies are often looking to expand and attract businesses in their regions. It takes clean commercial properties to get them interested in a location. Executive director Sheila Kay Downhour of Ouachita Green said sometimes it only takes one impression for a company to decide to do business in the area. Whenever there’s litter sitting on a commercial property along a main corridor, a region can lose out on an economic opportunity. “Many years ago, there was a company that was going to come here and then, litter was one of the main issues. They said, “We don’t want to come here,” said Downhour. Downhour said that’s when they saw an opportunity to get the community involved in keeping commercial properties clean along a main corridor.“When someone sees litter on the side of the road, they think, “Oh, well, people don’t care. They don’t pay attention to detail. They don’t care about others. They don’t care about their surroundings; and so, that gives people an idea that we don’t care and that’s so not true,” said Downhour.The organization is hosting an upcoming free event for residents to recycle their items and not feel they have to litter in their neighborhoods, on the side of the roads and commercial properties.“And you can bring in your e-waste, all those computer monitors that you don’t need anymore; cellphones, things like that. What we’re doing – is we’re stopping illegal dumping, but we’re also making it easier for people to do the right thing. These are things we don’t want in our landfill,” said Downhour.America Recycles Day is happening on Nov. 2, 2024, at the Monroe Civic Center. WATCH: KNOE Latest VideoCopyright 2024 KNOE. All rights reserved.

What is a “small business”? Debate rages on proposals to change its definition

There have been intense discussions over a proposal to change the definition of small business in the Fair Work Act.

The proposal, put forward by a number of business groups, including the Australian Chamber of Commerce and Industry (ACCI), seeks to have the definition of small business changed from the current provision of less than 15 employees in the Fair Work Act to the proposed less than 25 employees.

The Government has so far resisted calls to expand the definition. Minister for Employment and Workplace Relations Murray Watt expressed fears that it would lead to more employees being dismissed.

Uber Launches ‘Business Black’ Rides For Busy Professionals On The Go

Uber’s newest ride option targets professionals and C-suite execs. The premium bookable black-car experience, named “Business Black,” aims to offer an “elevated ride for top-tier business travel.”

The company announced the elite ride option on October 15. Vehicles such as the Mercedes G-Class or Rivian R1S will transport the tech company’s professional clientele. Perks of riding Business Black include highly-rated drivers, extended wait times for pick-ups, and an exclusive customer service support line. There will also be “simplified” billing, which will conveniently send receipts for expense reporting. Moreover, Uber will credit Uber Cash to the professional’s account if the driver can’t reach their rider promptly.

“Corporate leaders are navigating demanding schedules when they travel for work. They’re often attending high-stakes meetings or connecting at conferences, operating on tight timelines and in unfamiliar cities. They can’t afford to worry about their transportation,” explained Josh Butler, head of Uber for Business. “Uber Business Black is designed to improve the business travel experience and provide much-needed peace of mind. The new ride type combines the luxury and comfort executives need to unwind between meetings with the flexibility and convenience of Uber to ensure a smoother, more reliable experience.” 

What Else Is There To Know About Uber’s Business Black Rides?

According to Skift, Business Black is only available to employees of companies that subscribe to Uber for Business. Professionals can book the luxury rides on demand or in advance using Uber Reserve. The tech titan noted that bookings for a whole business trip itinerary can be done at one time.

The customer support will be a 24/7 resource available up to 72 hours post a Business Black ride.

Business Black joins several features and ride options Uber has that cater to executives at the top of the corporate ladder. In addition to the new service and Uber Reserve, the company offers Uber Business Comfort and a way for professionals to “delegate profiles.” The latter feature allows assistants to seamlessly book, adjust, and expense rides for their bosses via connected profiles.

MSG kingpin James Dolan and associates gave generously to Mayor Adams amid NYC business interests

Billionaire Madison Square Garden owner James Dolan, together with his relatives and business associates, pumped more than $60,000 into Mayor Adams’ legal and political coffers this summer — even as his company had key business interests before the city and lobbied top City Hall officials about them, according to a Daily News review of public records.Those business interests include the heavily-debated question of how long MSG’s critical special permit — which allows it to operate atop Penn Station — should be renewed for.But the donations were permissible. While the MSG business entity is not allowed to make such contributions, Dolan and the other individuals who gave are. Nearly all the Dolan-connected contributions to Adams’ legal defense trust and reelection campaign came on July 10, July 15 and July 26, records show.For the trust, the donations, all of which were in the legal maximum amount of $5,000, totaled $45,000 — just under half of the $92,500 Adams’ fund raised over the last disclosure period, from July 1 to Sept. 30. The flurry of contributions came from James Dolan, his three adult sons, his father, a director of his Madison Square Garden Co., the same’s company vice chairman, a longtime entertainment business partner to Dolan and an ex-president of his MSG Network, The News’ review found.James Dolan, his three sons, his dad and the same business associates also gave another $16,800 to Adams’ 2025 campaign in July, each contributing the legal max of $2,100, each on the same day they also made their trust donations. Additionally, two more MSG Co. directors, including James Dolan’s sister, each gave $2,100 to Adams’ 2025 campaign on the same dates in July.It’s unclear if the Dolan family business donations to Adams’ campaign and trust — which totaled $66,000 — were made as part of any fundraising events.Madison Square Garden in 2023. (Luiz C. Ribeiro for NY Daily News)MSG spokespeople didn’t return requests for comment Thursday, and neither did Dolan, who’s also a major Donald Trump donor.City Hall spokesman Fabien Levy referred all questions to Vito Pitta, a lawyer for Adams’ defense trust and reelection campaign, who didn’t respond to messages.MSG Entertainment, a company James Dolan serves as the CEO of, is in the city’s Doing Business database, which lists entities engaged in financial dealings with the municipal government. Individuals in that database are legally barred from giving any cash to city legal defense trusts and can’t contribute more than $400 to mayoral campaigns, a rule designed to prevent pay-to-play corruption in city government.However, Dolan and his executives aren’t restricted by those rules, as they aren’t personally listed in the database.Government watchdogs have long lamented the fact that top executives of companies in the database aren’t automatically included. In a letter to the Campaign Finance Board last year, the heads of five New York government watchdog groups, including Reinvent Albany, Citizens Union and Common Cause, called it “a giant loophole.”The Dolans’ financial support for Adams came on the heels of the MSG companies spending hundreds of thousands of dollars on lobbying his administration and the City Council on various business issues, public records show.Last year, MSG had its in-house government relations team and consultants from the Greenberg Traurig and Kramer Levin law firms lobby city officials on securing the special permit the Madison Square Garden arena needs to operate.Targets of that lobbying included Ingrid Lewis-Martin, Adams’ chief adviser, Deputy Mayor for Operations Meera Joshi and various Departments of Transportation and City Planning officials, records show. The lobbying also targeted Council members.The Council eventually granted MSG a five-year permit. Adams, who had the power to veto the permit decision, allowed it to lapse into law.Dolan, who also owns the sports teams that call MSG home, the New York Knicks and the New York Rangers, expressed disappointment in the five-year term, having long argued the arena deserves a permit without an expiration date. The permit is a matter of existential survival for the iconic arena.Council members have said they gave MSG a five-year renewal, in part, to pressure Dolan to do more to help in the long-term redesign of Penn Station.Council members have argued Dolan’s company needs to do more to help revitalize the train hub, with there at one point even being discussions about kicking the Garden entirely out of its home to make way for a new station. Those discussions have fizzled, and Paul Macchia, MSG’s government affairs executive, is on the 55-member working group discussing next steps about the future of Penn Station.Besides the special permit issue, MSG also lobbied Adams’ administration and the Council last year on a bill that’d prohibit venues like MSG from using facial recognition technology to identify patrons. That bill was introduced after Dolan drew intense criticism for using such tech to identify lawyers for companies suing him and then have them booted from the arena during sports games and concerts.After MSG’s lobbying, the bill stalled and never passed the Council in 2023.But Brooklyn Councilwoman Shahana Hanif, a Democrat who penned the bill, re-introduced it this year. She told The News on Thursday it has gotten 27 co-sponsors, surpassing the majority threshold required for passage.“New Yorkers shouldn’t have to endure dystopian biometric scans to cheer for the Knicks,” Hanif said.With Téa KvetenadzeOriginally Published: October 17, 2024 at 5:37 p.m.

SIK and LocalShops1 Founders Want Everyone to Know Gulfport is Open for Business

Gulfport was hit hard in the past two hurricanes, but most of the shops, restaurants and other businesses along Beach Blvd, 22nd Ave S and 49th Street are open for business.  “The stories about Gulfport all focus on how much it got destroyed. Which is true, directly on the waterfront it’s a mess and those restaurants are probably months from reopening.  But the rest of the places on Gulfport’s three main business districts are open and need business. We wanted to bring attention to this and spotlight some of Gulfport’s local businesses including Pia’s Trattoria, Island Flavors and Tings, The Wine House and Gulfport Brewery + Eatery that are open for business” said LocalShops1 founder Ester Venouziou and SIK founder Suzane King.  Both are passionate about bringing awareness to the many local businesses that are open. 

Gulfport Businesses Spotlight

Pia’s Trattoria: Family owned and operated since 2005.It has grown from a small pasta panini cafe to a full inside and outside restaurant.  All family members work or have worked at the restaurant.  “Local businesses are the heart of our community because they care about you. They are your neighbor and friend. If the community hurts, we hurt. We know each other by name.  I believe helping your neighbor is helping yourself because it lifts you up when you are down. It’s the first step in healing yourself within a community,” said Pia Maria, owner of Pia’s Trattoria.  Address: 3054 Beach Blvd S.  Social media – Instagram: @piastrattoria

The Wine House:  Serve wine, beer including draft now, sodas, seltzers, CBD water. Smoked in house Texas style BBQ by Pitmaster Jeremiah Griffin as well as charcuterie, salads, small plates and sandwiches.  Address:  2913 Beach Blvd S. Social media – Instagram: @thewinehouse_gulfport and Facebook: The Wine House & BBQ Phone: 727-256-0228

Gulfport Brewery + Eatery: A selection of hand crafted beers brewed by Brewer Jason Toft pairs perfectly with our boutique bar food selection by Chef Sierra Espinosa. Enjoy live music and our tropical Biergarten.  Address: 3007 Beach Blvd S. Social media – Facebook: Gulfport Brewery + Eatery, Instagram @gulfportbrewery or call 727-954-4109.

“Local business owners are your friends, neighbors and community advocates. By supporting local you’re keeping dollars in our community at a time when our neighbors need it the most. It creates additional jobs at the local level and supports those who are rebuilding and recovering physically, mentally, and/or financially. We can do this together and at Gulfport Brewery and The Wine House, we look forward to seeing everyone soon,” saidPaige Acree, owner of The Wine House and Gulfport Brewery + Eatery.

Island Flavors and Tings:  A unique showplace of the cultural richness of the Caribbean Islands. They serve authentic homestyle meals for the family to the finest cuisine for events with catering and event planning services. The Gulfport location includes a grocery section with hard-to-find jerk seasonings, pepper sauces, chutneys, spices, freshly made juices and Island Crafts.  Address: 1411 49th St S. Social media – Facebook:  islandflavorsandtings , Instagram:  @islandflavorsandtings and LinkedIn island-flavors-and-tings.  

“We love being a part of Gulfport and the Tampa Bay community.  Giving back during these past few weeks was an easy decision for us.  It’s so important that we all show up for one another during times like these,” said Helena Josephs, owner Island Flavors and Tings 

For these businesses or any additional Gulfport businesses please make sure to check social media or try and call ahead as hours may be different than what’s listed online. 

“All three went above and beyond to help the community after the first hurricane a few weeks ago, giving out free meals and supplies to first responders, linesmen, seniors and anyone in need.  They always step up and go above and beyond to help our community and we wanted to bring awareness to their businesses and the many others in Gulfport,” said LocalShops1 founder Ester Venouziou and SIK founder Suzane King.

What is real-time business intelligence (RTBI)?

Real-time business intelligence (RTBI) combines data analytics and various data processing tools to enable access to the most relevant, up-to-the-minute data and visualizations. RTBI leverages smart data storage systems such as real-time data warehouses and business intelligence systems to help organizations make smarter decisions.
Data virtualization, data federation, enterprise information integration, enterprise application integration and service-oriented architectures are technologies that enable RTBI. Complex event processing tools analyze data streams in real time, and either trigger automated actions or alert users to patterns and trends. Other real-time BI tools include cloud-based key performance indicator (KPI) dashboards that serve up real-time data-driven decision support and business operations process monitoring analytics at a glance, as well as mobile apps that present them.
To maximize real-time BI tools, organizations need a strong infrastructure built to store and process data optimized for analytics. They must also have processes in place to help understand the value of their data, and a strategy to collect and analyze the most suitable data types. Strategies might involve building and using a data lake, data warehouse or data mart, or even a combination of these, depending on business needs.

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How does RTBI differ from traditional BI?
RTBI gives organizations a real-time view of their operations, enabling them to quickly make business decisions. Traditional BI relies on historical data and periodic reports, which limit an organization’s ability to respond quickly to changing situations.

What are the benefits of real-time business intelligence?
RTBI tools come with several benefits that are helpful, out of the box, for different industry verticals. These benefits include the following:

Instant decision-making. RTBI supports instant decision-making, which is necessary, for example, if a company sells clothing online. The company’s website and representatives at the company’s call center must have the same up-to-the-minute data regarding inventory levels. If a customer places an order and a particular size or color is sold out, the customer can be notified and redirected to another, similar item.
Competitive advantage. As consumer expectations grow higher each day, making intelligent decisions based on real-time data is increasingly critical to business relevance. RTBI provides the information organizations need, including forecast analysis and trend analysis, to make tactical decisions that help them take advantage of events as they occur. By using enterprise data to improve customer engagement, productivity and efficiency, businesses can gain competitive advantage and increase revenue.
Rapid detection of critical issues. RTBI isn’t just about improving the bottom line. Businesses can also use it as a service intelligence tool to optimize maintenance protocols and prevent potential downtime.

Given the many uses and benefits of RTBI, it’s wise to apply a multipronged approach. Some other RTBI application areas include the following:

A timeline of notable BI developments.

RTBI in supply chain analytics
RTBI can help supply chain managers and staff generate reports as well as personalized dashboards and alerts to monitor performance against objective goals and KPIs for supply chain management. With RTBI tools, users can quickly find solutions to problems, test hypotheses by analyzing patterns and trends in the data, and prepare for future demands while averting disruptions.
However, real-time data analytics with BI isn’t required for every part of a company’s operations. Most BI users can meet their business goals by looking at weekly or monthly performance numbers and long-term trends such as year-over-year comparisons. Similarly, finance groups might not need real-time data to analyze financial metrics or compare actual budgets to forecasts.
Because RTBI implementations can increase the overall cost of a BI system, the best practice for organizations is to deploy real-time BI technology only when it’s absolutely required.

Examples of real-time business intelligence
RTBI has proliferated swiftly in recent years, owing to rapid advances in both analytical methodology and IT architectures and apps that support it, as well as the competitive edge it can bestow. RTBI has become a mission-critical asset of the enterprise.
Examples of this proliferation abound. They can be found in almost every industry and vertical — from logistics to marketing to sales, from healthcare to manufacturing to finance. The following are some additional specific uses of RTBI:

Equipment failure detection or prediction.
Supply chain optimization.
Call center optimization.
Dynamic workflow adaptation.

The following are some real-world applications:

Netflix and its peers use RTBI for targeted content promotions.
Uber offers dynamic pricing, driven by real-time assessment of driving conditions, driver availability and demand surge.
Lowe’s uses manifest shipment planning by store, based on dynamic sales data.
Starbucks’ purchase prediction system and marketing is based on individual customer preferences.
Walmart uses RTBI for online behavioral analysis to interpret customer purchasing patterns.
Delta Air Lines uses RTBI to monitor its baggage handling to gather data for root cause analysis of baggage mishaps.

Learn how data warehouses and data marts compare and how each plays a key role in the BI and analytics process.

Sonoma State University’s Wine Business Institute in Partnership with Extended Education Launches All-New Workshops and Boot Camps

October 17 / ROHNERT PARK, Calif. – The Wine Business Institute (WBI) in partnership with Extended Education (ExEd) at Sonoma State University is proud to announce the launch of a new series of professional development wine business workshops and boot camps designed to support the evolving needs of wine industry professionals. The new offerings provide timely and relevant education to meet the current economic and market demands the industry is facing, ensuring participants gain the tools and knowledge needed to navigate today’s complex business landscape.

“These new workshops and boot camps reflect our continued commitment to advancing the wine industry through education and applied learning,” said Linda Nowak, Executive Director of the Wine Business Institute. “We’re excited to bring fresh, dynamic content that responds to the needs of today’s wine professionals.”

“The on-campus, one- or two-day programs are designed to deliver real-world, impactful learning experiences that address the unique challenges faced by today’s wine professionals,” said Natalie Williams-Munger, Executive Director for Extended Education.

“The Wine Business Institute and Extended Education have thoughtfully developed these offerings to be practical, immediately applicable, and responsive to the current economic and market demands of the industry.”

ExEd and WBI will introduce an intensive Digital Marketing and eCommerce Boot Camp on two Fridays, November 8 and 15, and a comprehensive Wine Compliance Workshop focused on alcohol production reporting to the TTB and CA ABC, starting December 6. Led by industry experts, both sessions include interactive elements, case studies, and practical insights. The boot camp is hands-on, requiring participants to bring laptops for real-world projects, while the compliance workshop covers key legal requirements. Both will be held at the Wine Spectator Learning Center at Sonoma State University.

For more information and to view the full list of new workshops and boot camps, please visit https://extended.sonoma.edu/programs/wine-business-workshops-and-bootcamps.

SSU Wine Spectator Learning Center 1801 E Cotati Ave, Rohnert Park, CA 94928

About the Wine Business Institute: The Wine Business Institute (WBI) serves as an intellectual and industry center for faculty, students, and the business community. Founded in 1996 as a partnership between wine industry leaders and the School of Business at Sonoma State University, the WBI provides cutting-edge research that informs industry best practices and program curriculum. More information about degree and certificate programs or wine business research:  https://sbe.sonoma.edu/winebiz.

About Extended Education at Sonoma State University: Extended Education supports Sonoma State University by encouraging lifelong learning for traditional and non-traditional student populations and by building and promoting a diverse array of programs serving current and prospective students, North Bay residents, regional employers, global audiences, and academic partners. More information about current programs and offerings:https://extended.sonoma.edu.

Tailor Brands offers game-changing tools for solopreneurs navigating business formation and compliance

Photo courtesy of Tailor Brands
Opinions expressed by Digital Journal contributors are their own.

The rise of solopreneurs is fundamentally transforming the entrepreneurial landscape, as more individuals choose to forgo traditional employment in favor of building independent businesses. This shift isn’t just a fleeting trend—it’s a movement. According to a study by Upwork, 64 million Americans engaged in freelance work in 2022, many of whom are solopreneurs operating one-person enterprises that contribute significantly to the economy. Yet, as the number of solopreneurs grows, so does the complexity of the challenges they face.

Unlike larger companies with dedicated teams for legal, financial, and operational support, solopreneurs often find themselves juggling every aspect of their business alone. The burden of navigating business formation, ensuring compliance, and managing financial obligations falls squarely on their shoulders. While solopreneurship offers unparalleled freedom and flexibility, the absence of robust resources tailored to their unique needs can turn this journey into an uphill battle. For many, the lack of a streamlined, all-in-one solution means more time spent on paperwork and administrative tasks, detracting from their core mission: building and growing their business.

Tailor Brands, a leading business platform, is stepping up to simplify this process by offering a comprehensive suite of tools designed specifically to help solopreneurs overcome these challenges and build successful, compliant businesses. Tailor Brands enables entrepreneurs to concentrate on growth without being impeded by administrative complexities by providing a unified platform that addresses the legal, financial, and branding requirements of small business owners.

Addressing the legal and financial gap for solopreneurs

Starting a business involves more than just a brilliant idea and a logo; it requires meticulous attention to legal structures, regulatory compliance, and financial management. Many solopreneurs feel overwhelmed by the intricate steps necessary to establish a business entity, such as forming an LLC or meeting ongoing compliance obligations. These complexities can distract from growth, leaving entrepreneurs caught up in administrative tasks instead of focusing on scaling their ventures.

Tailor Brands addresses this issue with a comprehensive platform that supports branding while meeting the essential and financial needs of solopreneurs. In addition to enabling business owners to focus on their primary objectives—growth—Tailor Brands eliminates the need for multiple providers by consolidating critical services, which also provides peace of mind.

A standout feature of Tailor Brands is its business formation service, which simplifies the establishment of a recognized entity. Whether entrepreneurs choose to form an LLC, a corporation, or operate as sole proprietors, Tailor Brands guides users through the registration process, including filing the necessary paperwork with state and federal agencies. This support enables solopreneurs to launch their businesses on a solid foundation without navigating complex legal jargon alone.

Ongoing compliance is another critical focus. Tailor Brands offers tools that track regulatory requirements, send timely reminders, and ensure that entrepreneurs fulfill their obligations. This support is invaluable for solopreneurs who might not have the resources to hire legal advisors or accountants, providing assurance that their business remains in excellent standing year-round.

Apart from these services, Tailor Brands provide robust financial tools to help solopreneurs manage their operations effectively. Features such as income and expense tracking, automated tax preparation, and financial reporting tackle common pain points for small business owners. For those new to managing finances, Tailor Brands also offers educational resources and step-by-step guidance, equipping entrepreneurs with the tools and knowledge needed for long-term success and sustainable growth.

Paving the way for solopreneurial growth

Tailor Brands is rethinking what it means to assist solopreneurs in a fast-changing corporate environment and not just stand as another business platform. The company’s unique approach to integrating legal and financial services alongside traditional branding solutions sets it apart from competitors. With a focus on accessibility and ease of use, Tailor Brands empowers solopreneurs to launch, manage, and scale their businesses without being bogged down by administrative complexities.

As the number of solopreneurs continues to rise, the demand for streamlined, comprehensive business solutions will only grow. Tailor Brands is poised to play a pivotal role in shaping the future of solopreneurship, providing the tools needed to navigate the complexities of business formation, stay compliant, and maintain financial health—all on a single, user-friendly platform.

When Ethical Business Practices Emerge as a Powerful Competitive Advantage

Customers today are more informed than ever, making ethical business practices essential. 
According to PWC, 83% of consumers believe businesses should actively work to improve social and environmental issues. This reflects a significant shift in consumer expectations, where people increasingly hold companies accountable for their impact on the world. 
Ethical practices are now a decisive competitive advantage, driving consumer loyalty, attracting top talent, and ultimately boosting a company’s bottom line. 
This post explores how prioritizing ethics can translate into tangible business benefits and long-term success.
Consumers Want More Than Just the Products They Buy
Today’s consumers are savvy. They’re not just buying products but investing in brands that align with their values. Shoppers want to know where their products come from, who made them, and what impact their purchase has on the world. 
This is why, according to a McKinsey and NielsenIQ study, products with environmental and social-related claims experienced 56% of sales growth over five years. This goes beyond just wanting a quality product at a fair price. 
Customers increasingly choose businesses that do the right thing, even if it means paying a little extra. Another NielsenIQ study found that 48% of consumers like sustainable living and want to make ethical choices when they can. This highlights a growing trend of conscious consumerism, where people consider their purchases’ ethical and environmental impact. 
Companies that ignore this shift do so at their peril. In recent years, numerous instances of consumer boycotts have been seen targeting businesses with unethical practices that have damaged their reputation and bottom line. One example of how unethical practices can lead to severe consequences is 3M, a manufacturer of PFAS chemicals.
PFAS chemicals have been used in various products, like aqueous film-forming foam (AFFF), commonly used in firefighting, for their resistant properties. However, these chemicals do not break down quickly, which leads to numerous health issues, including cancer, liver damage, and immune system effects. 
The chemicals in AFFF can seep into groundwater, contaminating drinking water supplies and causing long-lasting environmental damage.
Many people, including firefighters and residents near military bases or airports where AFFF is frequently used, have been exposed to PFAS chemicals. This has led to a surge in the firefighting foam lawsuit, with plaintiffs seeking redress for health issues and environmental contamination caused by AFFF.
As per TorHoerman Law, 9,896 lawsuits had been filed (as of October 2024) against different manufacturers, the majority of which included 3M. Beyond legal costs, 3M had incurred expenses related to cleanup, remediation, and compliance with new regulations. Moreover, negative media coverage and consumer boycotts also led to a decline in sales and long-term brand damage.
Companies must be transparent about their supply chains, labor practices, and environmental impact. Consumers can spot empty promises and greenwashing tactics from a mile away. Brands that commit to ethical practices will reap the rewards of increased customer loyalty and a strong brand reputation.
Defining Ethical Practices
Ethical practices go beyond simply following the law. They represent a commitment to doing what’s right, even when not required. For businesses, this translates to various actions and policies prioritizing fairness, sustainability, and social responsibility.
Environmental stewardship is a critical aspect of ethical business. This involves reducing carbon emissions, conserving resources, and minimizing pollution. Many companies are now setting ambitious sustainability goals and investing in renewables. 
For example, Apple is committed to carbon neutrality by 2030. They strive to be net zero across their entire value chain. This includes reducing emissions by 75%, innovation in materials, clean energy, and low-carbon logistics. 
Not just Apple, brands like Patagonia and Everlane have built their brands on a foundation of ethical practices. These companies demonstrate that ethical practices can be a powerful driver of brand loyalty and business success.
How Businesses Can Achieve Competitive Advantage Through Ethical Practices
Ethical practices drive actual business results. A strong ethical reputation can be a major differentiator in a competitive marketplace. Many consumers are willing to pay more for products from a company known for ethical conduct. This demonstrates the tangible value of a positive brand image built on ethical practices.
Loyal customers are the backbone of any successful business. Ethical companies cultivate strong customer relationships built on trust and shared values. This translates into higher customer retention rates and increased lifetime value. 
Furthermore, ethical companies are magnets for top talent. Research by the Chamber of Business finds that money isn’t the primary motive for employees to work. 46% of adults say working for an ethical business is more important than getting a higher paycheck. This shows employees want to work for organizations that align with their values and contribute to the greater good.
Ethical companies are often more profitable in the long run. They avoid costly scandals and legal battles associated with unethical behavior. They also attract investors who prioritize environmental, social, and governance (ESG) factors. Ethisphere’s World’s Most Ethical Companies list consistently shows that these companies outperform their competitors financially. Ethics and profits go hand in hand.
Putting Ethics into Action
Turning ethical principles into action requires a thoughtful and systematic approach. Start by looking honestly at your current business practices. Assess your supply chain, labor practices, environmental impact, and community engagement. Identify areas for improvement and set clear goals for change.
Develop a comprehensive code of ethics outlining your company’s values and expectations for ethical conduct. This code should be a living guide that informs decision-making at all levels of the organization. Communicate your values clearly to your employees, customers, and stakeholders.
Furthermore, provide your team with the necessary resources to make ethical choices. Foster a culture of open communication and accountability and regularly measure your progress toward your ethical goals. Track key metrics, gather feedback, and make adjustments as needed. This demonstrates your commitment to continuous improvement and helps you stay on track.
FAQs
How can you identify if a company is following ethical practices?
To identify if a company is following ethical practices, examine its transparency in operations, treatment of employees, environmental impact, and adherence to regulations. Check for certifications like Fair Trade or B Corp, review its sustainability reports, and consider its reputation through customer and employee reviews. Ethical companies typically prioritize social responsibility and community engagement.
How can business ethics be a competitive advantage?
Business ethics can be a competitive advantage by building trust with customers and stakeholders. Ethical practices enhance brand reputation, leading to customer loyalty. They attract and retain top talent, reducing turnover costs. Additionally, ethical businesses often avoid legal issues, saving time and resources. This promotes a positive, sustainable growth environment.
How do business ethics work in real life?
In real life, business ethics guide decision-making, ensuring honesty and fairness. Companies implement codes of conduct and provide ethics training. Ethical practices involve treating employees well, being transparent with customers, and minimizing environmental impact. Businesses that follow ethical standards build trust, avoid legal issues, and create a positive workplace culture.
we hope you now understand that ethical business practices are vital for success.  Ethical companies build stronger brands, attract loyal customers, and retain top talent. They also enjoy greater profitability and resilience in a challenging market.  
By prioritizing ethics, your business will also positively impact society while gaining a crucial competitive edge. It’s time to move beyond simply talking about ethics and implement the motion. The future of business belongs to those who lead with integrity and a commitment to doing what’s right.