Question

Bussines Ethics

Instructions: Go to Youtube and type "Ted Talk Business Ethics" watch some of the videos and then write a 3 page paper on business ethics.

Answer 1

‘Business Ethics’ is the system in which moral principles are framed and rules of the conduct as laid down In a Business environment. Thus such a framework can be denoted as a written or unwritten codes. Businesss ethics covers in its ambit the entire organisation , from the strategic level to bottom level for the determination of the right and wrong behavior and decision-making .

Business ethics has universally applicablity at the same time it is a subjective term, however the identifation of the unethical business practices is easily recognizable for example an Organisation without a proper segregation of duties and responsibilities is considered  unethical, another example is when employees leave early than the scheduled time and lie on there time card, Stealing the Office supplies etc this way such employees are benefiting from it and get away with easily. Such an unethical practices without a proper system is affecting the entire working system of the organisation and encourages others to follow the same.In Some other case, determination of practices whether they are ethical or not is quite harder due to the existence blurred lines between ethical and unethical practices. Hence its of utmost importance to have a Commitment and system of   moral principles are framed and rules of the conduct as laid down In a Business environment.

Many US comapnies were using child labor in there Business, moreover before introducing Bussiness ehics there were extremely poor working conditions in a Business concern leading to various other Scandals. Besides it, Goodwill / Reputation is the most important asset of an organisation for its growth & survival. Once it is lost , it takes a lot harder effort to rebuild the same. Hence with consistent ethical behavior in an organisation there will be growth and retention of the reputation.

As per the Statistics, its given that the organisation which abide by the business ethics improve there Customers Confidence and Loyalty which ultimately helps in the increasing of its market share.Like Customers ,the labour ofthe business organisation is of equal importance, they are the key enablers of the business , hence for a due care must be taken for ensuring business ethical practices towards all dealings with the empoloyees. Moreover Business ethics are of Prominent importantance in developing good and friendly relations between business and society it deals with. Business organisation needs to follow the Business Ethics while dealing with its Competitors as well. Moreover A business concern should Avoid getting into Monopoply, as its dangerous for the consumers of the Business