Business Ethics

  What are advertising ethics? Advertising ethics are the moral principles that govern how a business communicates with members of its target audience. Advertising has a set of defined principles that outline the type of communication that can take place between a potential buyer and a seller of goods or services. An example of ethical advertising is an ad that presents true statements in a decent manner, although the definition of decency may vary between individuals. The purpose of advertising is to increase sales and generate more brand awareness. Good advertising can appeal to a wide audience and generate more demand for a product or service. Companies may claim that what they sell is better than what competitors sell, but ethics come into play when a business cannot back up their claims or use unacceptable methods to generate brand awareness. Ethics in advertising is important, because by acting ethically with their advertising, a company is being responsible towards the needs of

Marketing is important because it allows you to share your products and services with a niche audience  strategically . It helps you tell, show, and PROVE to people how terrific your business is and how you can help them. You can also educate people on topics related to your business, including how to solve common problems and which solutions are best. Here are five specific reasons  why marketing is essential for   your small business  in the 2020s. 1. It tells people what you have to offer. The primary purpose of marketing is to get the word out about your business: who you are and what products or services you offer.  Create brand awareness, help people understand your business in-depth, and keep loyal customers happy so they tell their friends and keep coming back for more. 2. It helps you get to know your target audience. Marketing isn’t JUST for your customers’ eyes and ears. You can also gain valuable insight into who your target audience is (those who love you already). Get to

  What is Ethics in Finance? The ethics in finance incorporate truthfulness, integrity, honesty, justice, and fairness in all sorts of financial activities. Financial ethics or business ethics are actually subsets of general ethics. It is crucial for maintaining harmony and stability in financial services where people interact with one another and do any sort of financial or monetary transactions. To understand it more properly, let us dive deep into both the terms separately- What is Financial Ethics or Ethics in Finance? Ethics governs the course of action taken by a human that can be right or wrong. Ethics is one of the most critical and intricate aspects of an organization, especially in domains like finances. There is either “right” or “wrong” associated with any human action based on the organization’s conventional morality and business ethics. Finance ethics is highly crucial because of the countless scandals and ethical issues of the financial industry. Ethics in the finance se

  Unethical Practices in Finance : The unethical practices in accounting are more in proprietary, partnership and private limited companies. It is at lower levels in public limited companies and MNCs. Some of the unethical practices in financing and accounting are as under: i. Deliberate abnormal delays in payments to (a) Vendors, (b) Dealers commissions and promotion costs. ii. Delays in paying wages, interest to financiers, incentive, bonus to employees. iii. Holding up bills of vendors on silly reasons and ultimately buying from others to avoid payment to earlier vendors. iv. Not prompt in statutory payments of ESI, PF, Sales Tax and Excise Duties. v. Cheating employees of their dues towards medical expenses, leave travel assistance, children education fees etc., vi. Opening of current accounts in different banks to avoid adjustments against loans by earlier banker. vii. Creating bogus bills of purchase to show higher costs and hence losses to avoid bonus payment to employees. viii.

  Un-Ethical Issues and Their Impact on Marketing :- Advertisements are a great way to spread knowledge about a product or service, but sometimes the messages in advertisements are questionable. Vintage advertisements from the 1950s and 1960s, for example, were created in an era with far less oversight. Today, many of these ads are more offensive and unethical than persuasive. If you look at an ad for Camels cigarettes from the 1950s, you’ll see a doctor smiling while holding a cigarette, and the caption, “More doctors smoke Camels than any other cigarette”. This ad demonstrates hypocrisy, since doctors spend their careers advocating for healthy lifestyles. It also sends a message to society that if doctors are smoking, then it must not be all that bad. In marketing, the strategy of promotion is used to gain the interest of consumers and to persuade them to try a product or service, but too often, the objectification of women is implemented in this strategy. Carl’s Jr. is well known fo

  Unethical Issues in Human Resource Management:- 1. Misusing company time:- Whether it is covering for someone who shows up late or altering a time sheet, misusing company time tops the list. This category includes knowing that one of your co-workers is conducting personal business on company time. By "personal business" the survey recognizes the difference between making cold calls to advance your freelance business and calling your spouse to find out how your sick child is doing. 2. Abusive behavior:- Too many workplaces are filled with managers and supervisors who use their position and power to mistreat or disrespect others. Unfortunately, unless the situation you're in involves race, gender or ethnic origin, there is often no legal protection against abusive behavior in the workplace. To learn more, check out the Workplace Bullying Institute. 4. Lying to employees:-   The fastest way to lose the trust of your employees is to lie to them, yet employers do it all the

  Ethical Issues in HR Of all the organisational issues or problems, ethical issues are the most difficult ones to handle or deal with. Issues arise in employment, remuneration and benefits, industrial relations and health and safety. Diagrammatic representation of HR Ethical Issues Cash and Compensation Plans There are ethical issues pertaining to the salaries, executive perquisites and the annual incentive plans etc. The HR manager is often under pressure to raise the band of base salaries. There is increased pressure upon the HR function to pay out more incentives to the top management and the justification for the same is put as the need to retain the latter. Further ethical issues crop in HR when long term compensation and incentive plans are designed in consultation with the CEO or an external consultant. While deciding upon the payout there is pressure on favouring the interests of the top management in comparison to that of other employees and stakeholders. Race, gender and Dis

In the current era of heightened consumer awareness, business owners must understand one empirical fact: buyers  prefer to invest  in ethical brands.   Ethical Issues in Marketing For this reason, you should consider the impact of your marketing strategies from an ethical point of view, especially given the heightened sense of social awareness among younger audiences. To illustrate what these potential issues are, we've looked more closely at the importance of ethics, what to avoid in your campaigns, and how you can  adopt moral principles  to your long-standing advantage. 1. False Advertising  You should be careful to avoid overstating the benefits that a product or service offers in your marketing and advertising communications, so as to steer clear of accusations of false advertising. Advertising is considered to be misleading if it misrepresents the value, uses, or outcomes of a product, utilising inaccurate information in its content to gain buyers' interest.   Although fa

  MAKING CONNECTIONS DELIVERING RESULTS BUILDING YOUR SOCIAL BRAND      What is Digital Marketing? Digital marketing is the act of selling products and services through channels such as social media, SEO, email, and mobile apps. Basically, digital marketing is any form of marketing that involves electronic devices. It can be done online and offline, and in fact, both kin ds are important for a well-rounded digital marketing strategy. Types of digital marketing There are as many specializations within digital marketing as there are ways of interacting using digital media. Here are a few key examples. Search engine optimization Search engine optimization, or SEO, is technically a marketing tool rather than a form of marketing in itself.  The Balance  defines it as “the art and science of making web pages attractive to search engines.” The "art and science" part of SEO is what’s most important. SEO is a science because it requires you to research and weigh different contributing

  ABOUT ETHICS, PRINCIPLES AND MORAL VALUES Simply put, Ethics involves learning what is right or wrong, and then doing the right thing . ETHICS; Ethics is a set of rules that define right and wrong conduct. Ethics is a code of morale or morale philosophy which is practiced by the humans or group of people in their life. It affects that how the people lead their life and decision making . It concerned about what is good or bad for individuals , society and also defined as moral philosophy.  BUSINESS ETHICS; It can be defined as written and unwritten codes of principles and values that govern decisions and actions within a company. In the business world ,the organisation's culture sets standards for determining the difference between good and bad decision making and behavio   Here we will be looking after various ethical and unethical issues in departments of management like-  Human resourse Marketing  Finance ETHICAL ISSUES IN MARKETING; Ethics in marketing refers to moral guidelin