Issues with business procedures and cost to consumers

Businesses engage in a variety of activities that aim to strengthen and advance the economy. The approaches focus on the connections between consumers and producers in the market and the ethical boundaries of those relationships. Therefore, in order to comprehend the frameworks of its functions within the identical systems, the topic necessitates a varied perspective. The laws’ rules of conduct and ethics protect the interests of both customers and company owners. Ideally, we should use the contexts of business processes to grasp this concept. On numerous circumstances, the needs and expectations of each side may fall short of the actuality. This subject is therefore controversial on a number of levels. Ideally, business practices include a diversity of activities that focus on helping the firms to grow. These activities involve production, packaging, marketing as well as management of the systems in practice. Every business unit aims to make profits and expand their territories in the economy (Crane & Matten, 2016). Thus, the standard of operation, in this case, focuses on ethical contexts of the market to expand the market base for the goods. Ethics is a code of conduct that tends to regulate the morals and other standards of operations in the industry. On the other hand, cost-to-consumer concerns arise from the chain of processes that emanate from all activities in the practices of the firms.

Elements of business practices and consumer concerns in business

First, cost-to-consumer issues are so broad and may involve numerous aspects of business practices and the application of the law (Smith, 2014). One of the main concerns in the business practices includes the consumers’ expectations against the realities in the market. Most consumers expect higher levels of integrity and honesty in their negotiations as well as the pricing policies. The belief in morals and social norms plays a central theme in the prospects of deciding about various aspects of the products. These practices are standard in many market setups as well as organizations leaving us with fundamental questions on the privacies, rights and the reliability scope of the products sold in these marketplaces.

It is ideal to consider the marketing and the advertising techniques in the market. Such business practices require mega input in the quest for fairness to the consumers and other stakeholders in the system. At the same time, one should be able to understand the components of ethical concepts to help in negotiating the cost of the products. Ethics is the epitome of every transaction within the business platform paving the way to unbeatable costs and consideration for every play in the settings. The practices should involve considerations for stocks, consumer safety as well as the profit margin gained at the end.

Pricing is a vital aspect of business practice that trickles down to the performance of the whole industry. Besides, it determines the level of development and success of the entities entailed in the system. Nonetheless, it is also crucial to consider the other factors of sales, marketing, and product placements. Marketing and advertisement portray a more profound concern for the role of ethics and communication than the other aspects as described. Consequently, it is fundamental to understand the diversity of the topic about the frameworks of operation in the industry.

Consumers always want protection from exploiters and other fake advertisement messages that may seem to manipulate them into buying products that are not genuine while the business owners deserve to be protected from unhealthy competitions as well as harmful consumers that may take advantage of the systems. All of us would want to pay a fair price for every product we purchase. At the same time, every seller would wish to make a profit to help them sustain their businesses in the industry. In return, both parties desire rights of protection and fairness in the transaction arena. Thus, ethical practices tend to bind the critical aspects of the market together and provide a significant pathway and a baseline in which the parties can undertake their activities smoothly. Several other elements also play a part in the concerns about costs and the consumer satisfaction in the industry.

Advantages of such practices

Consumers play a crucial role in linking and bridging the gap between business and the society. This way, it is essential to understand the importance of their niche in the business arena. Ethical practices in the industry and cost-to-consumers considerations have numerous benefits in the world today. The concepts allow the investors to understand the policies of operation in the market and may then make appropriate decisions regarding the products as presented in the market to the consumers.

Pricing and consumer cost are the pillars of ethical concerns in many industries in the world today. The aspects of diversity and cultural differences are only uniform under cover of the moral contexts. Ethics play an essential role in the development and success of the business organization as well as the world economic growth. It is advantageous in explaining the unity between the society and the business cult. Pricing and the cost of production should aim at enhancing correlations between the organizations and the business units in the world today.

Consumerism is a good practice that protects the consumers from various fraudsters and unethical business practices in the market. The consumer will feel protected from the unethical behaviors in the presence of such bodies stipulated within these policies. The events of the policy formulation may help in inventing an international font within the global arena. It protects the consumers from activities such as misbranding, adulterated products, misleading information as well as reduced qualities of products from producers. Further, it enhances competent performances in the systems and enables mature operations in the globe.

Public protection is another advantage in this case. The business practices promote apparent concerns about the product safety and social welfare to enhance sustainability on a long-term basis. The traditions of protecting the interest of the public have a massive influence on the progress of every business concerns. Therefore, the business practices must link with the attention of the majority in the society to avoid adverse impacts within the settings.

Disadvantages of these contexts

There are several issues around the concepts of business practices such as the context of advertisement and the consumer costs. Some argue that the prospects provide deceptively. Some people also perceive the contents to be immoral and misleading in several ways. These issues raise myriad questions on the aspects of consumer needs, the freedom of speech as well as the economic factors in the markets. Business practices provide unclear incidences of performance in an absolute way that may involve a mega challenge in the subjects’ interests in the society (Ferguson & Souza, 2016).

About the consumer needs, some of the communication strategies utilize manipulating contexts to lure buyers into their goods in the market. One disadvantage of such practices is that the consumers cannot distinguish the genuine messages from the deceptive ones. Therefore, it becomes hypothetically technical for the market operation while focusing on the safety of every member. Cost-to-consumers is a broad perspective of the market performances that not only require general analysis of the systems but also demand the collaborative approach to the various stakeholders.

Secondly, advertisement and other promotional practices are costly to the operators and may subject them to the business loss in the long run. Ideally, it is always the aim of every business person to make a profit in the market. However, one has to go an extra mile in sourcing for buyers and establishing a business relationship the victim bears the risk of losing the value of his or her properties in the stock market and may end up with losses instead of profits. Moreover, the inclusion of government agencies results in higher costs of production based on the levies and taxes imposed on the producers. The result of this is that the cost will trickle down to the final consumers hiking the prices of the same goods (Cline, Phillips, & Neubig, 2013).

At the same time, the concepts of ethics and business practices are too broad for a single operation in the system. While others consider advertisement as a legal approach to sales promotion, others portray negative contexts of the same in the industry. I think business practices and the cost-to-consumers should help us in identifying the gaps in the market and human society. Therefore, the debate cannot help us to understand the components of the market in the clear. Moreover, advertisement and other practices within the business firms may involve complex cases within the industry.

Conclusion

In conclusion, every business entity has responsibility for the satisfaction of their consumers in the market. Business practices entail the comprehensive understanding of the market as well as the players implied in the business practices. Practices such advertisement and marketing require keen consideration of ethical boundaries and the rule of law in developing an active relationship with the consumers in the industry. The advantage of such practices includes reliance and access to relevant information that leads to maximum profit and consumer safety. The obligations of the premises provide the framework under which all the business people operate. Consumer cost concerns thus focus on the magnitude of the impacts laid by the business practices in the entire market. The legal provision of the people should enhance sustaining of the industry for future generations. However, the methods limit the operations of the business owners and may result in sub-standardized goods in the display. Inadequate information and misleading contents may prompt an emergence of disloyalty among the consumers and result in complexity in the market situations. Thus, this topic forms part of a complicated debate that should invoke the input of every concerned economist in the world today.

References

Cline, R., Phillips, A., & Neubig, T. (2013). What’s Wrong with Taxing Business Services. Adverse Effects from Existing and Proposed Sales Taxation of Business Investment and Services.

Smith, N. C. (2014). Morality and the Market (Routledge Revivals): Consumer Pressure for Corporate Accountability. Routledge.

Ferguson, M. E., & Souza, G. C. (Eds.). (2016). Closed-loop supply chains: new developments to improve the sustainability of business practices. CRC Press.

Crane, A., & Matten, D. (2016). Business ethics: Managing corporate citizenship and sustainability in the age of globalization. Oxford University Press.