ipl-logo

Ethics In A Business Environment

1074 Words5 Pages

Ethics are“Moral Standards” or a “System of morals”. Ethics that examine ethical principles and moral or ethical problems arise in a business environment are business ethics. Business ethics are applicable to all situations of business management and is relevant to the business conduct of individuals and the entire establishment. Ethics, not like the color of skin, an individual inherits from his parents. It is the moral philosophy involves basic principles of decent human conduct and the concepts of right and wrong behavior. Business ethical norms reflect the norms of each historical period. With the passage of time, norms evolve. Business Ethics is a term used very broadly throughout the world. “Religion” is the most important factor in …show more content…

The onus/obligations that business has towards society is termed as Corporate Social Responsibility (CSR) which are categorized as Economical, ethical, legal and philanthropic. CSR is a concept which states that companies not only consider their profitability but also the interest of the society and the environment in which it operates. One of the most contemporary definitions is from the world Bank Group, stating “Corporate Social Responsibility” is the commitment of business to contribute to sustainable economic development by working with employees, their families, local community and social at large to improve their lives in such ways that are good for business and for the development. Every business house has an obligation to society, the philosophy is to give back to the society what it has taken from it, in the course of its quest for profit maximization and wealth …show more content…

There are many different areas in which a company may choose to focus its Corporate Social Responsibility like environment, education, health, nutrition and employment etc. India represents a very interesting case for understanding modern business ethics. India has been a land of Buddha, Chanakya, Ramakrishna and many other great souls and spirituals. The ethical environment of business in India is influenced by a variety of aspects of Indian history, norms, ideals and values. We reach to the conclusion that Corporate Social Responsibility and maintenance of high ethical standards is not an option but an obligation for all businesses. We are extremely grateful to the Chief Editor Prof. Thomas G. Fraser for his efforts and sincere dedication in compilation of the significant writings of during International Conference on Business Ethics and Corporate Social Responsibility organized in Cordia Group of Institutes in Nov. 2013. We hope that researchers, academicians, policy makers, professionals and society will be benefitted with the findings in this

Show More
Related

  • The Big Short Movie Analysis

    1221 Words  | 5 Pages

    The Big Short Management and Leadership Theoretical Component Management – The process of dealing with or controlling things or people. Leadership - The action of leading a group of people or an organization, or the ability to do this. Management and Leadership are two very different things. “A manager is appointed in a position of authority which enables him to insist on people doing as he/she instructs.

    Read More

  • Tesla Social Responsibility Analysis

    715 Words  | 3 Pages

    Corporate Social Responsibility (CSR) relates to the actions of an organization and the effects on the environment and social wellbeing. It is about the way that the company assesses its actions and takes responsibility for this. (Investopedia, n.d.) CSR is a management concept whereby companies integrate social and environmental issues in their business operations and interactions with stakeholders . The company aims to achieve a balance of economic, environmental and social objectives, while also listening to the needs of stakeholders.

    Read More

  • Utilitarianism In Business Ethics

    1685 Words  | 7 Pages

    Utilitarianism is a teleological ethical theory based on the idea that an action is moral if it causes the greatest amount of happiness for the greatest number of people. The theory is concerned with predicted consequences or outcomes of a situation rather than focusing on what is done to get to the outcome. There are many forms of utilitarianism, having been introduced by Jeremy Bentham (act utilitarianism), and later being updated by scholars such as J.S. Mill (rule utilitarianism) and Peter Singer (preference utilitarianism). When referring to issues of business ethics, utilitarianism can allow companies to decide what to do in a given situation based on a simple calculation. Many people would agree that this idea of promoting goodness

    Read More

  • Ethics And Moral Issues In The Enron Scandal

    931 Words  | 4 Pages

    In this Enron Scandal ,several moral issues and values are being discussed .The moral issues is the misconduct of code of ethics by management level of a corporation , violation of code of professional ,ethical dilemma that faced by a management level when involved own interest . The first moral issues that discussed in Enron Scandal is misconduct code of ethics by management level of a corporation .In this case ,the mastermind of this scandal is the company CEO , Mr .

    Read More

  • Volkswagen Code Of Ethics Analysis

    1155 Words  | 5 Pages

    Davis (as cited by Khalidah, Zulkufly, & Lau, 2014) defined Corporate Social Responsibility (CSR) as “… the firm’s consideration of, and response to, issues beyond the narrow economic, technical, and legal requirements of the firm. It is the firm’s obligation to evaluate in its decision-making processes the effects of its decisions on the external social system in a manner that will accomplish social benefits along with the traditional economic gains, which the firm seeks. It means that social responsibility begins where the law ends. A firm is not being socially responsible if it merely complies with the minimum requirements of the law, because this is what any good citizen would do.” A firm will not survive without the support of both the stakeholders and shareholders, thus the CSR proposes the indication which stats that a firm can never exist In a vacuum (Khalidah et.

    Read More

  • Stakeholder Theory

    997 Words  | 4 Pages

    The History of Business Ethics and Stakeholder Theory in America Ethics play a huge role in the global business field, since considerations have to be made on moral practices, values, and judgments that govern the direction and overall success of the company. Consequently, over the progression of history, managers, entrepreneurs, and stakeholders at the helm of organizations have always had the mandate of making moral resolves on matters of ethics. According to Hunter (2003), such an approach to ethical behavior prompts a substantial growth in the organizational corporation, as well as maximizing business profits, and creating a reputable company image (Cutler, 2004). Notably, the overall performances of organizations that take part in unethical

    Read More

  • Business Ethics Case Study: The Johnson And Johnson Case

    1262 Words  | 6 Pages

    Introduction The key ethical issues that were presented in this case study were quality control, lack of customer care, responsiveness, and harming the customer. The Johnson and Johnson case may have been seen as a turning point due to many things the company did right. However, there were many ethical issues in this case which will be explored more throughout this paper.

    Read More

  • Essay On Ethical Leadership

    1451 Words  | 6 Pages

    “Ethics”, in an organizational context, comprises a set of behavioral standards, expressed as norms, principles, procedural guides, or rules of behavior, defining what is appropriate (right) and inappropriate(wrong). Grounded in a system of values and moral principles, these behavioral

    Read More

  • The Importance Of Business Ethics In The Business Environment

    1813 Words  | 8 Pages

    This statement is supported by Bennett (2014) wherein ethics clearly defines what is the right and wrong things and shapes what kind of behavior the business should act on. For the sense of business according to Joseph (2013), ethics are constructed and decided by each business and underpins decision that an employee makes. When it comes to the business’ environment, a well-constructed ethics is a key for a considerate and responsible decision making in a business (Bennett, 2014). Business Ethics is very important inside the company, it will show the moral standards that a company or business have whether it is right or wrong and good or bad.

    Read More

  • Examples Of Business Ethics Of Nestle

    2901 Words  | 12 Pages

    Business ethics also referred to as corporate ethics can be considered as either a form of applied ethics or professional ethics. Its purpose is to analyse ethical principles and also moral as well as the ethical problems that might arise in a business environment. Business ethic is applicable to all parts of business conduct and also takes into consideration the conduct of individuals and the business organizations as a whole. Business ethics can be divided into normative and descriptive discipline. For the purpose of this assignment, the Nestle Company has been chosen.

    Read More

  • Tesla Corporate Social Responsibility Analysis

    713 Words  | 3 Pages

    Corporate Social Responsibility (CSR) relates to the actions of an organization and the effects on the environment and social wellbeing. It is about the way that the company assesses its actions and takes responsibility for this. (Investopedia, n.d.) CSR is a management concept whereby companies integrate social and environmental issues in their business operations and interactions with stakeholders. The company aims to achieve a balance of economic, environmental and social objectives, while also listening to the needs of stakeholders.

    Read More

  • Examples Of Persuasive Speech

    700 Words  | 3 Pages

    17. Is business ethics still practiced in real world? 18. Organizations can look to imitate the best practices of their competitors. 19.

    Read More

  • Unit 2 Business Ethics Task 2 P1

    1263 Words  | 6 Pages

    Ethics Program for 2015 Task 2 Erica Young Western Governors University – Missouri Table of Contents Code of Ethics…………………………………………………………………… .03 Acceptable Use of Electronic Mail………………………………………….. 03 Acceptable Use of the Internet ……………………………………………... 03 Acceptable Employee Conduct …………………………………………….. 04 Acceptable Dress Code ……………………………………………………..

    Read More

  • The Importance Of Business Ethics In International Business

    1039 Words  | 5 Pages

    The earlier opinion stated that a business cannot be ethical, but this opinion is not used anymore in the modern business. Today business has belief that they must be responsible for social since they live and operate within a social structure. The key factors that make business ethics is important at the quarter of the 20th century are corporate social responsibility, corporate governance, and globalized economy. The culture of an organization, or else we can call it as the philosophy of an organization which is related with ethics have a great relationship with the performance of a business in long and short term. As a business is manage by human being, the people who manage a business

    Read More

  • Kfc Case Study

    1359 Words  | 6 Pages

    1.1 Task 1, P1. Under this task I will explain the ethical issues of KFC Company needs to be consider in its operational. Ethics Ethics can be defined as moral guidelines which govern good behavior, so to behaving ethically is what deemed to be morally acceptable. Business ethics: It is a form of applied ethics or professional ethics observes ethical principles and moral or ethical problems that arise in the business environment. It applies to all aspects of professional behavior which applicable for the behavior of individuals and entire organizations.

    Read More

More about Ethics In A Business Environment

Open Document