Question

please list the benefits of ethical descission making and the strategies of ethical ethical making?

Answer 1

The moral way of doing business which identifies what is right and what is wrong is ethic.

Benefits are as below:

Point 1) Goodwill: It earns goodwill in the market, since this is fair conduct. People maintaining ethics are always demanded in the market, because they are safe persons dealing with any sort of contracts.

Point 2) Third part interest: It protects third party interest by supplying true and fair reports or information. Suppose a firm is disclosing material facts in accounting statements.

Point 3) Minimum legal disturbance: Ethic gives fair business, which reduces the chance of legal complication. Suppose a business has adequate cash to make the payment of suppliers.

Strategies are as below:

Point 1) Making a list of work: It gives idea about what to be done.

Point 2) Ways of doing work: This is the procedures of doing work. There may be various ways of doing such thing – may be labor intensive program or capital intensive program. The best way without any complication must be chosen.

Point 3) Supervision: This is very important part of searching fraud. Such supervision may be universal.

Point 4) Motivational dose: It should be applied time to time on all employees, so that they must have ethical conducts.