Business Ethics
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Business ethics is made of two word 1)Business
2) Ethics
Business is an economic activity which is conducted on regular basis to earn profit through production and sale of goods and services
Ethics is the discipline which deals with the moral values related to human conduct
Introduction to Ethics
Ethics is derived from Greek word ethos which means character
ethics is commonly defined as a set of principal prescribing a behaviour explain what is good and right or bad and wrong
It refers to the contempt for the standards set of values that governs the action and behaviour of individual
According to garrett ethics is the science of judging specifically human hands and the relationships of means to those end.
Features of ethics. 1) Contains Principles of professional conduct.
2 Involved all Human activities
3) Criticises Law.
4 ) Normative Science.
5) Interchangeably
Business Ethics
Business Ethics may be defined as the model of principles for rules of behaviour which should go on the conducting business enterprise
Business ethics is an art and science of maintaining a proper harmonious relationship with society in various groups and institutions as well as recognising the moral responsibility for rightness or wrongness of business.
Elements/ Features of Business Ethics
1 Self Imposed Discipline
2) Honesty
3)Equality
4) Guiding Force
5) Helping Attitude
Need and Importance of business ethics
1) Social pressure
2Legal Requirement
3) Moral Consciousness
4) Self Interest
5 Long term Sucess
Factor affecting Business Ethics
1Cultural factor
2 Economic factor
3 political factor
4 Social factor
5 Organisational factor
6 Code of conduct
Benifits of Ethical code
A member of Management association affiliated to the all Indian Management association AIMA shall
Guide to good management practices
Investor. Employee
Supplier. Customer
Government. community
Employee
Company
Customer
Industry
Society
Shareholder
Factor affecting Business Ethics
1) Individual characteristics
2) Leadership
3) Strategy and performance
4) Environment
5) Corporate culture
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