KARACHI: There is a dire need of inward investment of human resources and adaptation of ethical behaviour, business ethics and professional modules to promote business and trade, experts maintained.
To maximise benefits of new global commerce developments and other innovations, competitors should go for building market-leading positions in order to enhance revenues.
Agha Saiddain, an economist and senior executive of Pakistan Tanners Association, and Pakistan Yarn Merchants Association’s Ghulam Rabbani were of the view that we should link professionalism and fair business practices and enhance quality of our products for promotion of exports.
Pakistan Association of Certified Chartered Accountants (ACCA) head Sajjeed Aslam said, “We have entered into innovation in qualification, underpinned and informed by global research conducted into future ethical landscape. Ethics and trust in a digital age is our compelling look at perceived importance of ethical behaviour in a rapidly evolving digital era and challenges that technological advancement puts on professionals. International trade is essential to our economy. All those involved in professional education have a duty to make sure individuals are equipped to apply highest standards of ethical judgement in a fast-moving world”.
ACCA Chief Executive Helen Brand was of the view that ACCA was one of the world’s first to emphasise professional as well as technical skills and ethics in such a way.
We were the first professional body to introduce a compulsory ethics module a decade ago and reinforcing ACCA members’ standing as professionals who deliver public value, she said.
The experts said a timely and wise decision can analyse business operating expenses to determine which ones are too high based on industry benchmarks. Maximise price levels by reviewing pricing system across all products & services and determining prices in line with market expectations will greatly boost profits, the experts said.
Published in Daily Times, October 27th 2017.