Business ethics refers to the consideration of moral decisions and responsibilities in the process of operating a business. Business ethics, practiced throughout the deepest layers of a company, become the heart and soul of the company 's culture and can mean the difference between success and failure Mar 16, · Business ethics or corporate ethics is a form of moral ethics that examines the conduct of people and individuals in a business set up (Weiss, ). These norms are the key guidelines to the way things are done in individual and communal businesses, and it helps in improving the relationship of the business with its stakeholders Business ethics is a form of ethics that examines ethical principles and problems that arise in the business environment (Sheena, , p). It is an important aspect in businesses because it affects the daily life of the individuals and the organization where these individuals belong. It is concerned with the conduct of the individuals and organizations as a whole
What Is Business Ethics – Free Essay Examples
After reading this essay you will learn about:- 1. Definition of Business Ethics 2. Factors Influencing 3. Business Ethics is the application of ethical principles and methods of analysis to business. Business ethics deals with the topic of study that has been given its due importance in business, commerce and industry since last three decades. The overt ones are generally deplored. The business avoids overt unethical practices. In business most activities are covert. The covert activities are bad and harm business. Ethics means different meaning to different people. It is abstract and does not have universal standards or acceptance due to the fact that ethics depend on morals and morals on value system of people.
Experiences in turn alter ethical practices. Many business men do not agree that ethics is necessary in his business dealings. They also say that business and ethics are opposite terms and hence, combining them is not proper. In the keep competition in the market place earning money is most important and how it is done is of secondary or no importance. The golden rule is that a person should have gold to rule. There is lot of misconceptions or myths about business ethics and business should be done with ethics in mind. Myths are popular unexplained beliefs but not truths. Ethics is in the thinking and eyes of the man who sees business. One customer see business ethically excellent other customer see it is poor.
The experiences are contradictory and cannot be measured as so many kilos. Ethical means may be or may not be always in the interest of business or better profits. Whatever the profit or business of a company, CEO of the company has to act ethically. The company should be prepared to pay costs for instituting and maintaining ethical values in the company, what is business ethics essay. Management information systems MIS is neither immoral nor moral. While MIS is good management productive tool what is business ethics essay positive dimensions, there are dark usage areas, what is business ethics essay. MIS may be misused. Information and computing can be put to bad use. There are violations of privacy and questionable use of data or putting the MIS in wrong perspective.
The right or wrong thinking is based on religious belief of individuals. Business ethics is not for individuals. Individuals make ethical choices for their individual or own family life as well as for business. The choices in organisational decision making are based on data, discussions, purpose and directions in the organisation. Organisations that do not act in a socially responsible ways often pay penalties. In all the 5 myths it may be seen that business ethics is seen in simplistic and unrealistic light, what is business ethics essay.
Box 8. The 5 myths can be discussed for the case-let. Business Ethics is quality of being useful or desirable. It is commonly used to what is business ethics essay things which people regard as good, desirable and just. We generally make value judgments on many matters what is business ethics essay good, skilled, unskilled, bad etc. The statements are comparative. We have few terms generally used with different meaning at times not correctly. Norms of expectations of a proper behaviour in a society. These are not requirements or must. Example: We in India treat elder with respect. Ethical codes of thought, what is business ethics essay.
Belief is an abstract thinking process. Here there is no action as in norms. Beliefs support norms. Example: Thinking saving money, or energy. Characteristics of a community or of a culture. Code of values by which a group or a society lives. Example: Generosity of a group. It is the standard that an individual or what is business ethics essay group that knows that is good, what is right and which is proper. Example: Since last decade political morality is decreasing in India. Are desired level of morals. Usually these are statements, regarding describing moral features. Example: Honesty is best policy. Business is driven by values.
Values guide what a business manager should do and how the stakeholder reaction to these action. Following a set of good values a value system can be built in the organisation business thus can create good, services, employment of larger value. The manager should be pragmatic in his approach. This comes by his experience and skill in knowing as to how a decision works in a given situation. Manager should have a feel of what is good for highest number. Manager should also evaluate the value built up in his control. The manager has to choose values in his day to day business decisions. Basic values cut across culture time and type of industry. Some values appear overlapping, what is business ethics essay. Selection of values by a manager is given in Fig. The Objectives of Ethics are to evaluate the human behaviours and calling up on the moral standards.
The ethical standards also prescribe how to act morally in specified situations. At personal level the policy should be set that not to misuse the properties of the others or of the organisation keeping the promises and extending the mutual help, not to seek quick gains and not to indulge in politics to gain power. The business organisation should follow fair practices in dealing with employees and other stakeholders, what is business ethics essay. The organisation should have open and better communication at all levels. The organisation leadership should motivate employees for better productivity and for common good. The social concerns like no discrimination concerned for the down trodden be the prime concerns of the business organisations.
Optimal use of scarce resources, clean environment and ensuring better quality of life to all the stakeholders should be stressed in the internal policies. The organisation should take care of the maximum number of stakeholders and follow ethical means with shareholders, customers, suppliers, employees, banks and financial institutions, government and all others that are connected with the organisation. Business ManagementEthicsBusiness Ethics. Your Article Library Home Static Main Menu Home Share Your Files Disclaimer Privacy Policy Contact Us Prohibited Content Prohibited Content Image Guidelines Plagiarism Prevention Content Filtrations Terms of Service Account Disabled.
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What is Business Ethics?
, time: 3:55Essay on Business Ethics: Definition, Factors and Objectives
Business ethics refers to the consideration of moral decisions and responsibilities in the process of operating a business. Business ethics, practiced throughout the deepest layers of a company, become the heart and soul of the company 's culture and can mean the difference between success and failure Mar 16, · Business ethics or corporate ethics is a form of moral ethics that examines the conduct of people and individuals in a business set up (Weiss, ). These norms are the key guidelines to the way things are done in individual and communal businesses, and it helps in improving the relationship of the business with its stakeholders Business ethics is a form of ethics that examines ethical principles and problems that arise in the business environment (Sheena, , p). It is an important aspect in businesses because it affects the daily life of the individuals and the organization where these individuals belong. It is concerned with the conduct of the individuals and organizations as a whole
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