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Honesty is an essential virtue that business leaders should cultivate. Honesty profoundly determines the success or failure of the business organization. One of the main reasons that makes business leaders be dishonest is to make customers buy products on a false promise. In so doing, the business leaders increase sales and profitability of the company. However, one way or another, customers would still find out that the company cheated them. Thus, dishonesty only helps in meeting the objectives of the business in the short-term. Therefore, dishonesty leads to irreparable damage to a company.
In some instances, dishonest business leaders may appear to be successful through exploiting other people. However, a closer examination of these business leaders would show that they are not as successful as they seem to be to the general population. Dishonest leaders are not as contented with their success as people who have achieved their success by honest means. The true measure of success is not leaving a trail of casualties as one seeks to be successful.
Honesty would help improve the reputation of business leaders. This would help them in undertaking various transactions with various stakeholders of the business. Their word alone would satisfy the stakeholders. Thus, honesty would help in improving relationships with various stakeholders. Good relations would ensure the long-term success of the business organization. On the other hand, it is impossible to buy reputation. Business leaders can only build reputation gradually through being honest in their undertakings.
There are instances where being dishonest may offer business leaders an easy way out of a difficult situation. When faced with such as predicament, most business leaders would choose to be dishonest. However, business leaders who have a high level of integrity would swallow the bitter truth and be honest. This may be detrimental to the company in the short-term. However, being honest is ultimately beneficial to the business leader as it makes the leader avoid using a chain of lies to cover the initial lie. Dishonest leaders find themselves in a quagmire due to the continuous lies. Thus, it is critical for business leaders to be honest. Honesty is not naivety.