Business Ethics

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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 guidelines and principles that every organisation should follow. Every company has a particular marketing policies to guide their pricing advertising ,research,and various other provisional and competitive strategies.




E.g- Various market brand knows that their reputation will be severely damaged by any kind of misinformation.

       various ethical issues in marketing are-:



     
  • Deceptive marketing policies.
  • Adequate market research.
  • Current market research.
  • Ethics marketing and promotion.
  • various delivery channels.
  • Current market condition.

UNETHICAL ISSUES IN MARKETING:


In  present scenario corporate trust has been on a lower side. Customers faith from organisations has no longer that strong.
Some of the major unethical practices are :
  • Misleading advertisement with false claims that supports their product.
  • Emotional exploitation.
  • contacting people without having their knowledge.
  • false promises for the products in sake of profits at large scale.
  • Exploitation.
  • Spamming.
  • Confuse potential buyers.


Ethical issues in HR

Human resource is used to describe both the people who worked for the company and the organisation and the department responsible for managing resources related to employees
 .HRM involves both strategic and comprehensive approaches to managing people as well as workplace culture and environment.
Various ethical issues related to human resource are- 
  • Employee Responsibility: 
  • Restructuring and lay offs: 
  • Performance Appraisal: 
  • Cash and incentives plans: 
  • Employees discrimination: 


Unethical issues in HR:

There are following unethical issues in human resource management which is listed below-:
  • Misusing company time
  • Abusive behavior
  • Employee theft
  • The FBI recently reported that employee theft is the fasting growing crime in the U.S today.
  • Lying to employee


FINANCE :

Finance refers to the management of large amounts of money. It is also known as ‘art of money management.’

Ethical Issues in Finance :  

Finance mangers are often confronted with ethical issues like:
  • Full disclosure and transparency.
  • Professional duty vs company demands.
  • Individual judgements vs demand from clients.
  • Accuracy.
  • Timeliness.


Unethical Issues in Finance : 

Following are some unethical issues of finance:
  • Delays in payments to vendors and dealers.
  • Delays in paying wages, interest to financiers, incentives and bonus to employees.
  • Opening of current accounts in different banks to avoid adjustments against loans by earlier banker.
  • Taking private finance from only those who are ready to do personal favours to finance department head.

REFERENCES:

Comments

  1. Unknown30 March 2022 at 13:19

    Thanks for bringing importance of business Ethics in business environment. Nice content.. keep Discovering

    ReplyDelete
  2. Gaurav30 March 2022 at 13:33

    Thanks for sharing such great information. It helps me. I always search to read the quality content and finally I found this in your post that explains everything in detail, the article is very interesting and effective. Keep it up!

    ReplyDelete
  3. Animesh Singh30 March 2022 at 13:58

    Great content well explanation about business & ethics.

    ReplyDelete
  4. Aditya Kumar Singh31 March 2022 at 00:11

    Thanks for sharing such a great information.. about ethics in business It's really helpful to me..I was searching to read the quality content
    which can clear my concept and finally i found this in your post. keep it up!

    ReplyDelete
  5. Unknown31 March 2022 at 02:59

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    ReplyDelete
  6. Anonymous31 March 2022 at 09:42

    Nice content

    ReplyDelete

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