Business ethics is a system of codes of principles and rules that govern decisions and actions in a company or workplaces. It is the values and standards to conduct the distinguish between moral and immoral business activities, or determine acceptable conduct in business. Salbu (2001) mentioned that Business ethics is central to our endeavor whether we acknowledge it or not, because we all deal with it. And the ethics could also be used to evaluate laws. The general business ethics including ethics of human resource management, ethics of sales and marketing, ethics of production, and ethics of intellectual property, knowledge and
Organization ethics play a substantial role in establishing and continuing any business. Ethic elements, such as honesty or integrity, trust, and loyalty have a big part in evolving the business images in the society. The corporate culture is built on the basis of the said accepted collective principles, outlooks, philosophies, and individualities of employees as well as management team members. It has also been found that, sound corporate culture and financial success is proportional to each other (Einar, 2010). However, it might also happen that strategic ethics may not meet the criteria of personal or real ethics in the real time.
1. In business ethics it’s all about the study on how we got to take in place a business and conduct it. It can be also said that business ethics is a study to regulate certain actions within the organization as to ‘which are right, rather than the wrong thing to do”. Having or practicing ethical behavior in the business organization promotes good moral values in the organization as a group an on an individual basis as well leading to better relations with the customers and with other business organization and clients. In the business organizations ethics are a very important subject, they are as follows: “Business depends on society, so it must respond to the needs of society” As the society and the business organization are connected to
The Ethical Necessity/Imperative Companies yield to social pressures for change and ethical duties by giving token concessions to its stakeholders under the name of “social responsibility” or by the owners doing philanthropic activities. These concessions are but partial, if not artificial, commitment to ethical responsibility, and only a fraction of companies do these. There remains a lack of genuine initiative to “ethicize” business institutions. But why is there a need for a greater, real ethical responsibility? Position: Companies and business people should be ethical Point 1: Being ethical in business strengthens the systems and relationships that support and sustain it Individuals, through corporations, have the right to amass wealth, but morality dictates that they do so ethically.
The corporate citizenship theory This theory argues that corporations are responsible and liable to help solving the social problems in their society. Furthermore, it argues that business owe a duty to promote and develop their society same as individuals, this duty arises from the social power granted by the society to business, so that corporations should use this power in doing good for their society (Matten & Crane, 2003). The corporate citizenship theory rest on three key dimensions, those are the legal, ethical and philanthropic responsibility. The legal responsibility is that to corporations should be abided by the laws and regulations. The second responsibility is the ethical, where corporation is responsible to do what the right, just, and fair action, even though it is not liable to do so.
It is all about the management of a companies impact on its stakeholders, the environment, and the community in which it operates. Its more than just a philanthropic activity for some charitable causes. It is about the integrity with which a company governs itself, how it fulfills its mission, the values it has, what it wants to stand for, and how it engages with transparency. Here, the corporations have to move beyond the financial bottom-line to the social and environmental
ETHICS IN FASHION INTRODUCTION MEANING OF ETHICS Ethics reflect beliefs about what is right, what is wrong, what is just, what is unjust, what is good, what is bad in terms of human behaviour. Ethical principles serve as a guide to behaviour on a personal level, within professions, and at the organisational level. It is based on written or unwritten codes of principles and values held in society. BUSINESS ETHICS also called as corporate ethics is a form of ethics or professional ethics that examines the ethical principles and moral or ethical problems that arise in a business environment. It applies to all the aspects of business conduct and it is relevant to the conduct of individuals and the entire organisations.
It will explain what is good or bad for others and for us. Ethics is a moral character and moral choices made in relation to others. Consisting of a standard business ethics that guide behavior in doing business. Businesses must balance the desire to maximize profits and maintain the balance of restricted businesses in the economic sector. The company 's business will take into account academic descriptive approach.
The corporate social responsibility require the enterprises must beyond the traditional concept “ make the profit as the only goal” emphasized the contribution to the environment, consumers and the society and the value of the human in production process. (Corporate social responsibility) Actually, the CSR theory is good for the businesses. But someone point out a question “must the enterprise bear the social responsibility?” There are also two
So businesses do not understand the role of business ethics, no sense of building ethical business in the enterprise, the enterprise will be very difficult to go to the highest success. Understand concepts, roles, and how to build business ethics is extremely important for businesses. First, business ethics is a factor contributing to the belief, customer satisfaction, increase trust, employee loyalty, regulate the behavior of entrepreneurs, improving corporate image and the profitability of the business. Therefore, to achieve sustainable success, businesses must build foundation of business ethics for their business. Second, business ethics contribute to regulate the behavior of business entities Business Ethics and combined with additional legislation governing the conduct of business in accordance with the legal framework and the trajectory of the ethical norms social ethics.